Clearwater Analytics (NYSE:CWAN) Hits New 52-Week High – Time to Buy?

Clearwater Analytics Holdings, Inc. (NYSE:CWAN)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $28.13 and last traded at $27.75, with a volume of 118191 shares traded. The stock had previously closed at $26.96.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CWAN. Oppenheimer boosted their price target on Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Morgan Stanley boosted their price objective on Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price objective on Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Wells Fargo & Company boosted their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Piper Sandler restated a “neutral” rating and set a $23.00 price objective on shares of Clearwater Analytics in a research report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.67.

Clearwater Analytics Trading Up 6.0 %

The company has a market cap of $7.04 billion, a price-to-earnings ratio of -1,348.00, a PEG ratio of 9.53 and a beta of 0.61. The firm has a 50 day moving average price of $25.39 and a two-hundred day moving average price of $21.73. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11.

Insider Activity

In related news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total value of $92,387.50. Following the transaction, the executive now owns 4,844 shares in the company, valued at approximately $115,045. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Galibier Purchaser, Llc sold 1,784,316 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $24.18, for a total value of $43,144,760.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,864,693 shares of company stock valued at $246,818,342. Company insiders own 3.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC boosted its holdings in Clearwater Analytics by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company’s stock worth $1,233,000 after acquiring an additional 395 shares in the last quarter. Blair William & Co. IL boosted its holdings in Clearwater Analytics by 1.6% in the second quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock worth $786,000 after acquiring an additional 680 shares in the last quarter. Arizona State Retirement System boosted its holdings in Clearwater Analytics by 2.1% in the second quarter. Arizona State Retirement System now owns 40,894 shares of the company’s stock worth $757,000 after acquiring an additional 828 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Clearwater Analytics by 268.8% in the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after purchasing an additional 1,234 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Clearwater Analytics in the third quarter valued at approximately $45,000. Institutional investors own 50.10% of the company’s stock.

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.