Clearwater Analytics Sees Unusually High Options Volume (NYSE:CWAN)

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the recipient of unusually large options trading activity on Thursday. Traders purchased 6,898 call options on the company. This is an increase of 67% compared to the average volume of 4,133 call options.

Insider Buying and Selling

In related news, CRO Scott Stanley Erickson sold 4,505 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total transaction of $79,648.40. Following the transaction, the executive directly owned 19,552 shares of the company’s stock, valued at $345,679.36. This trade represents a 18.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sandeep Sahai sold 16,592 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $293,346.56. Following the transaction, the chief executive officer directly owned 913,600 shares in the company, valued at approximately $16,152,448. This represents a 1.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 113,302 shares of company stock valued at $2,207,626 over the last 90 days. 3.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

Several hedge funds and other institutional investors have recently bought and sold shares of CWAN. First Horizon Advisors Inc. boosted its holdings in shares of Clearwater Analytics by 278.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,523 shares of the company’s stock valued at $33,000 after acquiring an additional 1,121 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Clearwater Analytics by 84.6% in the second quarter. Bessemer Group Inc. now owns 1,545 shares of the company’s stock valued at $35,000 after purchasing an additional 708 shares during the last quarter. Versant Capital Management Inc grew its position in Clearwater Analytics by 189.3% during the 3rd quarter. Versant Capital Management Inc now owns 1,565 shares of the company’s stock worth $28,000 after purchasing an additional 1,024 shares during the period. Essex Investment Management Co. LLC raised its stake in shares of Clearwater Analytics by 54.9% during the 3rd quarter. Essex Investment Management Co. LLC now owns 1,806 shares of the company’s stock valued at $33,000 after buying an additional 640 shares during the last quarter. Finally, Danske Bank A S acquired a new position in shares of Clearwater Analytics in the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen lowered Clearwater Analytics from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Monday, August 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Clearwater Analytics in a report on Wednesday, September 17th. JPMorgan Chase & Co. dropped their price target on Clearwater Analytics from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, Wells Fargo & Company decreased their price target on shares of Clearwater Analytics from $32.00 to $27.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.56.

Clearwater Analytics Stock Down 2.0%

CWAN stock traded down $0.43 during trading on Thursday, reaching $20.88. 554,738 shares of the company traded hands, compared to its average volume of 3,970,836. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 5.54 and a beta of 0.67. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.97 and a current ratio of 1.97. The business has a 50 day simple moving average of $18.95 and a 200 day simple moving average of $20.40. Clearwater Analytics has a 12 month low of $15.73 and a 12 month high of $32.00.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $205.11 million for the quarter, compared to analyst estimates of $203.66 million. Clearwater Analytics had a net margin of 61.28% and a return on equity of 2.77%. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. On average, equities research analysts anticipate that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Clearwater Analytics Company Profile

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service (SaaS) solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities in the United States and internationally.