Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Sees Large Decrease in Short Interest

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 6,900,000 shares, a drop of 17.0% from the February 13th total of 8,310,000 shares. Based on an average trading volume of 2,550,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 3.3% of the shares of the company are sold short.

Clearwater Analytics Stock Down 0.5 %

NYSE:CWAN traded down $0.15 on Wednesday, hitting $26.47. 3,985,969 shares of the company’s stock were exchanged, compared to its average volume of 1,904,971. The firm has a 50-day moving average price of $28.28 and a 200-day moving average price of $27.77. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $35.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The company has a market cap of $6.65 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 8.23 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. As a group, analysts expect that Clearwater Analytics will post 0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Scott Stanley Erickson sold 4,141 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.65, for a total value of $114,498.65. Following the completion of the transaction, the executive now directly owns 7,902 shares of the company’s stock, valued at approximately $218,490.30. This represents a 34.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $26.58, for a total transaction of $497,046.00. Following the completion of the sale, the chief financial officer now owns 358,502 shares in the company, valued at $9,528,983.16. This represents a 4.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 644,510 shares of company stock worth $18,688,862. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Clearwater Analytics

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Clearwater Analytics by 98.2% during the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock valued at $163,867,000 after purchasing an additional 2,950,555 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Clearwater Analytics by 66.0% in the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after acquiring an additional 2,931,445 shares during the period. Vanguard Group Inc. grew its stake in shares of Clearwater Analytics by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock valued at $574,607,000 after acquiring an additional 2,455,844 shares in the last quarter. Norges Bank bought a new position in Clearwater Analytics during the fourth quarter worth about $59,402,000. Finally, Champlain Investment Partners LLC acquired a new stake in Clearwater Analytics in the 3rd quarter worth about $53,559,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CWAN shares. Wells Fargo & Company upped their price objective on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Oppenheimer raised their price target on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. UBS Group upped their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Morgan Stanley reiterated an “overweight” rating and issued a $36.00 price objective (up from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. Finally, Piper Sandler upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their price target for the company from $28.00 to $36.00 in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.80.

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.