Clearwater Analytics (NYSE:CWAN) Reaches New 52-Week High – Still a Buy?

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) hit a new 52-week high during trading on Monday . The company traded as high as $26.18 and last traded at $25.98, with a volume of 397401 shares trading hands. The stock had previously closed at $25.78.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Wells Fargo & Company upped their target price on shares of Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Oppenheimer upped their target price on shares of Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Citigroup assumed coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 target price on the stock. Finally, Piper Sandler reissued a “neutral” rating and issued a $23.00 price target on shares of Clearwater Analytics in a report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Clearwater Analytics currently has an average rating of “Moderate Buy” and an average price target of $24.44.

Clearwater Analytics Stock Performance

The company has a market cap of $6.46 billion, a PE ratio of -328.75, a PEG ratio of 9.16 and a beta of 0.62. The business’s 50-day moving average is $24.50 and its 200 day moving average is $20.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $106.79 million for the quarter, compared to analysts’ expectations of $105.51 million. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The firm’s revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) EPS. On average, equities research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Clearwater Analytics news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $24.18, for a total value of $43,144,760.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total transaction of $489,192.00. Following the sale, the chief financial officer now owns 224,044 shares of the company’s stock, valued at $5,860,991.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Galibier Purchaser, Llc sold 1,784,316 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The disclosure for this sale can be found here. Insiders have sold a total of 10,879,543 shares of company stock valued at $247,145,339 in the last quarter. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. raised its holdings in Clearwater Analytics by 268.8% in the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after buying an additional 1,234 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Clearwater Analytics by 389.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock valued at $34,000 after purchasing an additional 1,549 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Clearwater Analytics during the third quarter valued at approximately $117,000. Amalgamated Bank purchased a new stake in Clearwater Analytics during the second quarter valued at approximately $90,000. Finally, Point72 Asset Management L.P. purchased a new stake in Clearwater Analytics during the second quarter valued at approximately $91,000. 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.