Clearwater Analytics (NYSE:CWAN) Announces Earnings Results

Clearwater Analytics (NYSE:CWANGet Rating) issued its quarterly earnings results on Wednesday. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01), Fidelity Earnings reports. Clearwater Analytics had a positive return on equity of 2.01% and a negative net margin of 3.68%. Clearwater Analytics updated its FY 2022 guidance to EPS and its Q3 2022 guidance to EPS.

Clearwater Analytics Stock Up 5.0 %

Shares of CWAN traded up $0.65 during trading hours on Friday, hitting $13.77. The company had a trading volume of 288,685 shares, compared to its average volume of 332,662. The company’s fifty day moving average price is $13.05 and its two-hundred day moving average price is $16.48. Clearwater Analytics has a one year low of $11.23 and a one year high of $27.68. The company has a market capitalization of $3.27 billion and a PE ratio of -229.46. The company has a current ratio of 12.03, a quick ratio of 12.03 and a debt-to-equity ratio of 0.18.

Insider Activity at Clearwater Analytics

In related news, CEO Sandeep Sahai bought 2,355 shares of the stock in a transaction dated Tuesday, May 31st. The shares were purchased at an average price of $11.99 per share, for a total transaction of $28,236.45. Following the completion of the purchase, the chief executive officer now directly owns 33,131 shares of the company’s stock, valued at $397,240.69. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Clearwater Analytics news, CEO Sandeep Sahai purchased 2,355 shares of the stock in a transaction on Tuesday, May 31st. The shares were bought at an average price of $11.99 per share, for a total transaction of $28,236.45. Following the completion of the transaction, the chief executive officer now owns 33,131 shares of the company’s stock, valued at approximately $397,240.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Morris Kochansky purchased 2,201 shares of the stock in a transaction on Tuesday, May 31st. The shares were acquired at an average price of $11.99 per share, for a total transaction of $26,389.99. Following the transaction, the insider now directly owns 3,976 shares of the company’s stock, valued at approximately $47,672.24. The disclosure for this purchase can be found here. Insiders have acquired 547,123 shares of company stock valued at $7,373,738 in the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CWAN. Captrust Financial Advisors boosted its holdings in Clearwater Analytics by 35.3% in the 1st quarter. Captrust Financial Advisors now owns 2,663 shares of the company’s stock valued at $56,000 after purchasing an additional 695 shares in the last quarter. Advisor Group Holdings Inc. lifted its stake in Clearwater Analytics by 17.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 6,823 shares of the company’s stock valued at $143,000 after buying an additional 1,029 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Clearwater Analytics by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 165,076 shares of the company’s stock valued at $3,467,000 after acquiring an additional 4,036 shares during the last quarter. Citigroup Inc. acquired a new position in Clearwater Analytics in the 1st quarter valued at $143,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Clearwater Analytics during the 1st quarter worth $204,000. 21.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CWAN shares. Oppenheimer decreased their price target on Clearwater Analytics from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, June 22nd. Wells Fargo & Company cut their target price on Clearwater Analytics from $22.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday. Morgan Stanley cut their target price on Clearwater Analytics from $21.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 27th. Piper Sandler dropped their price objective on Clearwater Analytics from $21.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, July 18th. Finally, DA Davidson decreased their target price on Clearwater Analytics to $22.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

About Clearwater Analytics

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Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities. The company offers investment accounting and reporting, performance measurement, compliance monitoring, and risk analytics solutions.

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