Clearwater Analytics (NYSE:CWAN) Shares Gap Up to $19.02

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWANGet Free Report) gapped up before the market opened on Monday . The stock had previously closed at $19.02, but opened at $19.56. Clearwater Analytics shares last traded at $19.48, with a volume of 68,240 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CWAN shares. Morgan Stanley restated an “equal weight” rating and set a $19.00 price target on shares of Clearwater Analytics in a research note on Thursday, May 2nd. Wells Fargo & Company dropped their price target on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. dropped their target price on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Finally, Oppenheimer upgraded Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

View Our Latest Stock Analysis on Clearwater Analytics

Clearwater Analytics Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 5.59 and a quick ratio of 5.59. The company has a 50-day simple moving average of $18.81 and a 200 day simple moving average of $18.42.

Clearwater Analytics (NYSE:CWANGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The business had revenue of $102.70 million for the quarter, compared to analyst estimates of $100.55 million. During the same quarter in the prior year, the firm posted $0.07 EPS. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. Sell-side analysts expect that Clearwater Analytics Holdings, Inc. will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In other Clearwater Analytics news, Director Warburg Pincus Llc sold 7,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $19.71, for a total value of $137,970,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Subi Sethi sold 18,599 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $19.46, for a total transaction of $361,936.54. Following the completion of the transaction, the insider now directly owns 77,519 shares of the company’s stock, valued at approximately $1,508,519.74. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Warburg Pincus Llc sold 7,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $19.71, for a total value of $137,970,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,193,079 shares of company stock worth $141,831,984. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its stake in shares of Clearwater Analytics by 33.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,442 shares of the company’s stock worth $49,000 after buying an additional 616 shares during the period. Natixis Advisors L.P. raised its stake in Clearwater Analytics by 1.4% in the 4th quarter. Natixis Advisors L.P. now owns 44,198 shares of the company’s stock valued at $885,000 after purchasing an additional 616 shares during the last quarter. KLR Investment Advisors LLC raised its stake in Clearwater Analytics by 5.0% in the 4th quarter. KLR Investment Advisors LLC now owns 16,939 shares of the company’s stock valued at $339,000 after purchasing an additional 801 shares during the last quarter. Eagle Bay Advisors LLC raised its stake in Clearwater Analytics by 213.3% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock valued at $36,000 after purchasing an additional 1,207 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Clearwater Analytics by 268.8% in the 1st 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 during the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Company Profile

(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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