Key Points
- CFO James Cox sold 7,425 shares on Dec. 17 at an average price of $22 for proceeds of $163,350, cutting his stake by 2.21% to 328,983 shares (about $7.24M).
- Clearwater reported quarterly revenue of $205.11M (up 77.1% YoY) but missed EPS by $0.02, its board approved a $100M buyback (~1.7% of outstanding stock), and analysts hold a "Moderate Buy" consensus with a $29.56 target.
Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) CFO James Cox sold 7,425 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $22.00, for a total transaction of $163,350.00. Following the completion of the transaction, the chief financial officer directly owned 328,983 shares of the company's stock, valued at approximately $7,237,626. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Clearwater Analytics Stock Up 1.3%
Shares of NYSE:CWAN opened at $21.98 on Friday. The stock's fifty day simple moving average is $19.78 and its 200-day simple moving average is $20.34. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $6.43 billion, a P/E ratio of 14.37, a P/E/G ratio of 5.71 and a beta of 0.67. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.73 and a 52-week high of $32.00.
Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $205.11 million for the quarter, compared to analysts' expectations of $203.66 million. Clearwater Analytics had a return on equity of 2.77% and a net margin of 61.28%.The company's revenue was up 77.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 earnings per share. As a group, equities research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.
Clearwater Analytics announced that its Board of Directors has approved a stock repurchase plan on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Zacks Research upgraded Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 4th. Weiss Ratings restated a "hold (c)" rating on shares of Clearwater Analytics in a report on Monday. DA Davidson reiterated a "buy" rating and set a $30.00 target price on shares of Clearwater Analytics in a research note on Wednesday, December 10th. Wall Street Zen lowered shares of Clearwater Analytics from a "hold" rating to a "sell" rating in a research note on Saturday, November 22nd. Finally, Wells Fargo & Company reduced their price objective on shares of Clearwater Analytics from $32.00 to $27.00 and set an "overweight" rating on the stock in a research note on Thursday, November 6th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $29.56.
View Our Latest Research Report on Clearwater Analytics
Institutional Investors Weigh In On Clearwater Analytics
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC grew its stake in Clearwater Analytics by 46.4% during the second quarter. Intech Investment Management LLC now owns 157,281 shares of the company's stock worth $3,449,000 after buying an additional 49,845 shares during the last quarter. Future Fund LLC bought a new position in Clearwater Analytics in the 2nd quarter valued at $732,000. Hillsdale Investment Management Inc. boosted its stake in Clearwater Analytics by 28.0% in the second quarter. Hillsdale Investment Management Inc. now owns 190,950 shares of the company's stock worth $4,188,000 after purchasing an additional 41,800 shares in the last quarter. Segall Bryant & Hamill LLC grew its holdings in shares of Clearwater Analytics by 20.4% during the second quarter. Segall Bryant & Hamill LLC now owns 384,634 shares of the company's stock worth $8,435,000 after purchasing an additional 65,141 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Clearwater Analytics by 8.2% during the second quarter. Swiss National Bank now owns 447,996 shares of the company's stock worth $9,825,000 after purchasing an additional 33,896 shares during the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.
About Clearwater Analytics
(
Get Free Report)
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.
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