Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 10,380,000 shares, an increase of 6.0% from the September 15th total of 9,790,000 shares. Based on an average daily volume of 1,560,000 shares, the short-interest ratio is currently 6.7 days. Currently, 7.5% of the shares of the company are short sold.
Shares of CWAN stock traded up $0.84 on Thursday, hitting $27.14. The company had a trading volume of 1,114,894 shares, compared to its average volume of 1,457,396. The stock's 50-day moving average is $24.57 and its two-hundred day moving average is $20.72. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78. The firm has a market cap of $6.67 billion, a P/E ratio of -339.38, a P/E/G ratio of 9.16 and a beta of 0.62. Clearwater Analytics has a twelve month low of $15.62 and a twelve month high of $27.16.
Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The company had revenue of $106.79 million during the quarter, compared to analysts' expectations of $105.51 million. During the same period in the prior year, the company posted ($0.03) earnings per share. Clearwater Analytics's revenue for the quarter was up 18.8% compared to the same quarter last year. On average, equities research analysts anticipate that Clearwater Analytics will post 0.14 earnings per share for the current fiscal year.
In other Clearwater Analytics news, insider Subi Sethi sold 21,497 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $24.30, for a total value of $522,377.10. Following the transaction, the insider now directly owns 81,812 shares of the company's stock, valued at $1,988,031.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Clearwater Analytics news, CFO James S. Cox sold 14,850 shares of the company's stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $22.02, for a total transaction of $326,997.00. Following the completion of the sale, the chief financial officer now directly owns 232,503 shares in the company, valued at $5,119,716.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Subi Sethi sold 21,497 shares of Clearwater Analytics stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $24.30, for a total value of $522,377.10. Following the completion of the transaction, the insider now owns 81,812 shares in the company, valued at approximately $1,988,031.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,879,543 shares of company stock worth $247,145,339 over the last ninety days. Insiders own 2.10% of the company's stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Wasatch Advisors LP increased its position in Clearwater Analytics by 35.6% in the 1st quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company's stock valued at $289,962,000 after buying an additional 4,304,286 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Clearwater Analytics by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company's stock worth $267,676,000 after purchasing an additional 2,219,459 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Clearwater Analytics by 1.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company's stock valued at $210,659,000 after purchasing an additional 128,402 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Clearwater Analytics by 0.6% during the second quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company's stock worth $193,178,000 after buying an additional 66,528 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its holdings in shares of Clearwater Analytics by 2.5% during the second quarter. Conestoga Capital Advisors LLC now owns 6,671,247 shares of the company's stock valued at $123,551,000 after buying an additional 165,000 shares during the last quarter. 50.10% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on CWAN shares. Morgan Stanley lifted their target price on Clearwater Analytics from $20.00 to $30.00 and gave the company an "equal weight" rating in a research report on Thursday. Citigroup started coverage on shares of Clearwater Analytics in a research report on Monday, August 19th. They set a "buy" rating and a $28.00 price objective for the company. Piper Sandler reissued a "neutral" rating and issued a $23.00 price objective on shares of Clearwater Analytics in a research note on Monday, September 9th. Oppenheimer boosted their target price on shares of Clearwater Analytics from $25.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company increased their price target on Clearwater Analytics from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Clearwater Analytics currently has an average rating of "Moderate Buy" and a consensus target price of $25.67.
View Our Latest Report on CWAN
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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