James Cox Sells 11,275 Shares of Clearwater Analytics (NYSE:CWAN) Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CFO James Cox sold 11,275 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $21.41, for a total transaction of $241,397.75. Following the completion of the sale, the chief financial officer directly owned 328,983 shares of the company’s stock, valued at approximately $7,043,526.03. This trade represents a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Clearwater Analytics Stock Performance

Shares of NYSE:CWAN opened at $21.98 on Friday. The firm’s 50 day simple moving average is $19.78 and its 200-day simple moving average is $20.34. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.97 and a current ratio of 1.97. Clearwater Analytics Holdings, Inc. has a one year low of $15.73 and a one year high of $32.00. The firm has a market cap of $6.43 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 5.71 and a beta of 0.67.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data 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). The firm had revenue of $205.11 million during the quarter, compared to the consensus estimate of $203.66 million. Clearwater Analytics had a return on equity of 2.77% and a net margin of 61.28%.The firm’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. As a group, equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics declared that its board has initiated a share repurchase program on Wednesday, September 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CWAN. Versant Capital Management Inc boosted its stake in Clearwater Analytics by 189.3% in the third quarter. Versant Capital Management Inc now owns 1,565 shares of the company’s stock valued at $28,000 after acquiring an additional 1,024 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Clearwater Analytics by 278.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,523 shares of the company’s stock worth $33,000 after purchasing an additional 1,121 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in shares of Clearwater Analytics by 54.9% in the 3rd quarter. Essex Investment Management Co. LLC now owns 1,806 shares of the company’s stock worth $33,000 after purchasing an additional 640 shares in the last quarter. Bessemer Group Inc. grew its stake in Clearwater Analytics by 84.6% during the 2nd quarter. Bessemer Group Inc. now owns 1,545 shares of the company’s stock worth $35,000 after buying an additional 708 shares during the last quarter. Finally, Danske Bank A S acquired a new position in Clearwater Analytics during the 3rd quarter valued at about $36,000. Institutional investors own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CWAN shares. DA Davidson restated a “buy” rating and issued a $30.00 price objective on shares of Clearwater Analytics in a report on Wednesday, December 10th. JPMorgan Chase & Co. reduced their price target on shares of Clearwater Analytics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. UBS Group dropped their price objective on shares of Clearwater Analytics from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Clearwater Analytics in a research note on Wednesday, September 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Clearwater Analytics in a report on Monday. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.56.

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.