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

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) have been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $32.6667.

Several equities research analysts have commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Clearwater Analytics in a research note on Saturday, September 27th. Oppenheimer cut their price objective on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, June 11th. DA Davidson lowered their target price on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. The Goldman Sachs Group upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Monday, August 11th. Finally, Zacks Research upgraded Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th.

Clearwater Analytics Price Performance

NYSE:CWAN opened at $17.70 on Wednesday. Clearwater Analytics has a 12 month low of $17.15 and a 12 month high of $35.71. The stock has a 50 day moving average of $19.42 and a two-hundred day moving average of $21.75. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44. The firm has a market cap of $5.17 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 4.44 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The firm had revenue of $181.94 million for the quarter, compared to analysts’ expectations of $174.16 million. During the same quarter last year, the firm posted $0.10 earnings per share. Clearwater Analytics’s quarterly revenue was up 70.4% on a year-over-year basis. On average, analysts expect that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics announced that its board has initiated a share repurchase plan on Wednesday, September 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Subi Sethi sold 7,434 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total value of $131,433.12. Following the completion of the sale, the insider directly owned 226,980 shares in the company, valued at $4,013,006.40. This represents a 3.17% 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, CRO Scott Stanley Erickson sold 4,505 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $79,648.40. Following the completion of the sale, the executive 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,727 shares of company stock valued at $4,502,559. Insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Clearwater Analytics by 11.3% in the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock valued at $623,001,000 after acquiring an additional 2,366,715 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Clearwater Analytics by 3.0% in the second quarter. Wasatch Advisors LP now owns 9,567,391 shares of the company’s stock valued at $209,813,000 after acquiring an additional 274,664 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Clearwater Analytics by 7.7% in the first quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company’s stock valued at $171,866,000 after acquiring an additional 458,444 shares during the last quarter. Bamco Inc. NY raised its position in Clearwater Analytics by 12.3% in the second quarter. Bamco Inc. NY now owns 6,094,715 shares of the company’s stock valued at $133,657,000 after purchasing an additional 665,823 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Clearwater Analytics by 6.7% in the second quarter. JPMorgan Chase & Co. now owns 5,774,285 shares of the company’s stock valued at $126,630,000 after purchasing an additional 363,720 shares during the period. 50.10% of the stock is currently owned by institutional investors and hedge funds.

About Clearwater Analytics

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.