Investors Buy High Volume of Clearwater Analytics Call Options (NYSE:CWAN)

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the target of unusually large options trading activity on Thursday. Stock investors acquired 6,898 call options on the stock. This represents an increase of approximately 67% compared to the average daily volume of 4,133 call options.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CWAN shares. Wall Street Zen cut shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Clearwater Analytics in a research note on Monday. The Goldman Sachs Group raised Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Monday, August 11th. JPMorgan Chase & Co. lowered their price target on Clearwater Analytics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Finally, DA Davidson restated a “buy” rating and set a $30.00 price objective on shares of Clearwater Analytics in a research report on Tuesday, November 18th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Clearwater Analytics has an average rating of “Moderate Buy” and an average price target of $29.56.

Insider Buying and Selling at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 16,592 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $293,346.56. Following the sale, the chief executive officer directly owned 913,600 shares of the company’s stock, valued at approximately $16,152,448. This represents a 1.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 29,700 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $22.00, for a total value of $653,400.00. Following the completion of the transaction, the chief financial officer owned 333,983 shares in the company, valued at $7,347,626. The trade was a 8.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 113,302 shares of company stock valued at $2,207,626 over the last ninety days. 3.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Clearwater Analytics

Institutional investors and hedge funds have recently modified their holdings of the business. Swiss Life Asset Management Ltd bought a new position in Clearwater Analytics during the third quarter worth $211,000. CIBC Bancorp USA Inc. acquired a new stake in Clearwater Analytics in the third quarter valued at approximately $474,000. Danske Bank A S acquired a new position in shares of Clearwater Analytics during the third quarter worth approximately $36,000. Morningstar Investment Management LLC bought a new position in shares of Clearwater Analytics in the 3rd quarter worth $965,000. Finally, Woodline Partners LP grew its position in Clearwater Analytics by 35.4% in the 3rd quarter. Woodline Partners LP now owns 26,940 shares of the company’s stock valued at $485,000 after purchasing an additional 7,048 shares during the period. 50.10% of the stock is currently owned by institutional investors.

Clearwater Analytics Trading Down 2.0%

Clearwater Analytics stock traded down $0.43 during mid-day trading on Thursday, hitting $20.88. 554,738 shares of the stock were exchanged, compared to its average volume of 3,970,836. Clearwater Analytics has a 12 month low of $15.73 and a 12 month high of $32.00. 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 firm’s fifty day simple moving average is $18.95 and its two-hundred day simple moving average is $20.40. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 5.54 and a beta of 0.67.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, November 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). Clearwater Analytics had a net margin of 61.28% and a return on equity of 2.77%. The firm had revenue of $205.11 million during the quarter, compared to analyst estimates of $203.66 million. During the same quarter in the previous year, the firm earned $0.14 EPS. Clearwater Analytics’s quarterly revenue was up 77.1% on a year-over-year basis. Analysts forecast that Clearwater Analytics will post 0.18 EPS for the current year.

Clearwater Analytics announced that its Board of Directors has authorized a share buyback program on Wednesday, September 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 1.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.