Clearwater Analytics (NYSE:CWAN) CFO James Cox Sells 7,425 Shares of Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CFO James Cox sold 7,425 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $22.00, for a total transaction of $163,350.00. Following the completion of the sale, the chief financial officer owned 328,983 shares in the company, valued at approximately $7,237,626. The trade was a 2.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Clearwater Analytics Trading Up 1.3%

Shares of NYSE CWAN opened at $21.98 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market capitalization of $6.43 billion, a P/E ratio of 14.37, a PEG ratio of 5.71 and a beta of 0.67. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.73 and a 1-year high of $32.00. The business’s 50 day moving average is $19.78 and its two-hundred day moving average is $20.34.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, November 5th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Clearwater Analytics had a net margin of 61.28% and a return on equity of 2.77%. The business had revenue of $205.11 million for the quarter, compared to the consensus estimate of $203.66 million. During the same period in the prior year, the company posted $0.14 EPS. The company’s quarterly revenue was up 77.1% compared to the same quarter last year. As a group, research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics announced that its board has authorized a stock repurchase program on Wednesday, September 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 1.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Clearwater Analytics from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. DA Davidson restated a “buy” rating and set a $30.00 price objective on shares of Clearwater Analytics in a report on Wednesday, December 10th. Wall Street Zen lowered shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Wells Fargo & Company cut their price target on Clearwater Analytics from $32.00 to $27.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $27.00 price target on shares of Clearwater Analytics in a research report on Monday, November 24th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.56.

Hedge Funds Weigh In On Clearwater Analytics

Several hedge funds and other institutional investors have recently made changes to their positions in CWAN. FNY Investment Advisers LLC increased its holdings in Clearwater Analytics by 409.9% in the third quarter. FNY Investment Advisers LLC now owns 3,411 shares of the company’s stock valued at $61,000 after buying an additional 2,742 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new stake in shares of Clearwater Analytics during the 3rd quarter worth approximately $211,000. CIBC Bancorp USA Inc. purchased a new position in shares of Clearwater Analytics in the 3rd quarter valued at $474,000. Danske Bank A S acquired a new stake in Clearwater Analytics during the 3rd quarter worth $36,000. Finally, Morningstar Investment Management LLC acquired a new stake in shares of Clearwater Analytics during the third quarter worth about $965,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

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.