Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Short Interest Update

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 8,260,000 shares, a growth of 19.7% from the February 28th total of 6,900,000 shares. Based on an average daily trading volume, of 2,570,000 shares, the short-interest ratio is presently 3.2 days. Approximately 4.0% of the company’s shares are sold short.

Analyst Ratings Changes

Several equities research analysts recently commented on CWAN shares. Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. Royal Bank of Canada lifted their price target on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. UBS Group increased their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley restated an “overweight” rating and issued a $36.00 target price (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Finally, Wells Fargo & Company boosted their target price on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.80.

Clearwater Analytics Stock Performance

NYSE:CWAN traded up $0.52 during midday trading on Wednesday, hitting $26.72. The company’s stock had a trading volume of 1,434,303 shares, compared to its average volume of 2,031,501. The firm’s 50 day moving average is $28.17 and its 200-day moving average is $27.97. The firm has a market cap of $6.71 billion, a P/E ratio of 16.10, a P/E/G ratio of 8.23 and a beta of 0.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $35.71.

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

Insider Activity

In other news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $26.94, for a total transaction of $503,778.00. Following the completion of the transaction, the chief financial officer now directly owns 279,857 shares in the company, valued at $7,539,347.58. This trade represents a 6.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Scott Stanley Erickson sold 76,256 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $2,293,017.92. Following the sale, the executive now owns 78,363 shares of the company’s stock, valued at approximately $2,356,375.41. This represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 644,510 shares of company stock valued at $18,688,862. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CWAN. GAMMA Investing LLC raised its holdings in Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after acquiring an additional 468 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Clearwater Analytics by 3.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company’s stock worth $469,000 after buying an additional 502 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of Clearwater Analytics by 11.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company’s stock valued at $142,000 after purchasing an additional 521 shares in the last quarter. IHT Wealth Management LLC raised its stake in shares of Clearwater Analytics by 5.5% in the third quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock valued at $288,000 after acquiring an additional 598 shares in the last quarter. Finally, Summit Creek Advisors LLC raised its position in Clearwater Analytics by 0.3% in the 4th quarter. Summit Creek Advisors LLC now owns 285,045 shares of the company’s stock valued at $7,844,000 after purchasing an additional 833 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

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.