Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives Average Rating of “Moderate Buy” from Analysts

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $32.6667.

A number of analysts have recently weighed in on CWAN shares. Zacks Research upgraded Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. DA Davidson dropped their price objective on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Oppenheimer dropped their price objective on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, June 11th. The Goldman Sachs Group upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Monday, August 11th. Finally, Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the stock an “overweight” rating in a research report on Tuesday, June 24th.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $19.61 on Friday. The stock has a fifty day moving average price of $20.60 and a 200-day moving average price of $22.97. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 5.04 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. Clearwater Analytics has a fifty-two week low of $17.98 and a fifty-two week high of $35.71.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $181.94 million for the quarter, compared to the consensus estimate of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The business’s revenue was up 70.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. As a group, equities analysts anticipate that Clearwater Analytics will post 0.18 EPS for the current fiscal year.

Clearwater Analytics declared that its board has approved a stock repurchase plan 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 plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $22.15, for a total value of $1,107,500.00. Following the completion of the transaction, the chief executive officer directly owned 895,663 shares in the company, valued at approximately $19,838,935.45. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $22.50, for a total value of $420,750.00. Following the completion of the transaction, the chief financial officer owned 348,964 shares of the company’s stock, valued at $7,851,690. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 226,748 shares of company stock valued at $4,848,614 over the last three months. Company insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

Several large investors have recently bought and sold shares of the company. Apollon Wealth Management LLC increased its stake in shares of Clearwater Analytics by 3.9% in the first quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company’s stock valued at $331,000 after buying an additional 459 shares during the period. Huntleigh Advisors Inc. increased its stake in shares of Clearwater Analytics by 1.9% in the first quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company’s stock valued at $863,000 after buying an additional 595 shares during the period. Redwood Investments LLC increased its stake in shares of Clearwater Analytics by 0.8% in the first quarter. Redwood Investments LLC now owns 74,651 shares of the company’s stock valued at $2,001,000 after buying an additional 608 shares during the period. Abacus FCF Advisors LLC increased its stake in shares of Clearwater Analytics by 2.8% in the first quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company’s stock valued at $674,000 after buying an additional 682 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of 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 buying an additional 708 shares during the period. 50.10% of the stock is currently owned by institutional investors.

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.