Clearwater Analytics (NYSE:CWAN) Hits New 1-Year High – Here’s Why

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $24.51 and last traded at $24.5150, with a volume of 9376388 shares traded. The stock had previously closed at $24.29.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. DA Davidson restated a “neutral” rating and set a $24.55 target price on shares of Clearwater Analytics in a research report on Wednesday, May 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Clearwater Analytics in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $24.55 price objective (down from $36.00) on shares of Clearwater Analytics in a report on Wednesday, February 25th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.19.

Clearwater Analytics Price Performance

The business’s fifty day moving average price is $24.26 and its 200-day moving average price is $23.71. The company has a market capitalization of $7.32 billion, a P/E ratio of -136.19, a P/E/G ratio of 3.34 and a beta of 0.60. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.39.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Thursday, May 7th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Clearwater Analytics had a positive return on equity of 3.17% and a negative net margin of 5.88%.The business had revenue of $221.23 million for the quarter, compared to analysts’ expectations of $214.09 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The firm’s revenue was up 74.4% on a year-over-year basis. As a group, sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sandeep Sahai sold 51,967 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $23.80, for a total transaction of $1,236,814.60. Following the transaction, the chief executive officer directly owned 1,415,619 shares of the company’s stock, valued at approximately $33,691,732.20. This trade represents a 3.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Scott Stanley Erickson sold 18,790 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $23.80, for a total value of $447,202.00. Following the completion of the sale, the executive owned 155,119 shares of the company’s stock, valued at $3,691,832.20. The trade was a 10.80% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 809,511 shares of company stock worth $19,601,350. 3.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clearwater Analytics

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Clearwater Analytics by 21.9% during the 3rd quarter. Vanguard Group Inc. now owns 33,261,349 shares of the company’s stock valued at $599,370,000 after purchasing an additional 5,967,798 shares during the last quarter. Wellington Management Group LLP boosted its position in Clearwater Analytics by 108.7% during the third quarter. Wellington Management Group LLP now owns 17,793,701 shares of the company’s stock valued at $320,642,000 after buying an additional 9,268,950 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Clearwater Analytics by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,715,837 shares of the company’s stock valued at $330,827,000 after buying an additional 1,459,150 shares during the last quarter. Starboard Value LP purchased a new position in shares of Clearwater Analytics in the fourth quarter worth about $240,212,000. Finally, Wasatch Advisors LP increased its holdings in shares of Clearwater Analytics by 3.0% in the second quarter. Wasatch Advisors LP now owns 9,567,391 shares of the company’s stock worth $209,813,000 after buying an additional 274,664 shares during the period. Hedge funds and other institutional investors own 50.10% of the company’s stock.

About Clearwater Analytics

Clearwater Analytics LLC is a global provider of web-based investment portfolio accounting, reporting, and analytics solutions. The company’s software-as-a-service platform automates complex processes involved in investment data aggregation, reconciliation, valuation, and regulatory reporting. Serving institutional investors—including insurers, asset managers, corporations, government entities, and asset owners—Clearwater Analytics enables clients to optimize performance visibility, risk management, and operational efficiency.

Founded in 2004 and headquartered in Boise, Idaho, Clearwater Analytics has grown its global footprint with offices across North America, Europe, and the Asia-Pacific region.