Clearwater Analytics (NYSE:CWAN) Hits New 52-Week High – Time to Buy?

Clearwater Analytics Holdings, Inc. (NYSE:CWAN)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $28.13 and last traded at $27.75, with a volume of 118191 shares changing hands. The stock had previously closed at $26.96.

Wall Street Analyst Weigh In

CWAN has been the topic of several analyst reports. Royal Bank of Canada increased their target price on Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Wells Fargo & Company raised their price target on Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Oppenheimer raised their price target on Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Morgan Stanley raised their price target on Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $23.00 price target on shares of Clearwater Analytics in a research report on Monday, September 9th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and an average target price of $25.67.

Clearwater Analytics Stock Performance

The stock has a 50-day moving average of $25.39 and a 200-day moving average of $21.73. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of -1,348.00, a price-to-earnings-growth ratio of 9.53 and a beta of 0.61. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78.

Insider Activity at Clearwater Analytics

In other news, Director Warburg Pincus Llc sold 9,000,000 shares of Clearwater Analytics stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $22.41, for a total transaction of $201,690,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the sale, the chief financial officer now directly owns 224,044 shares in the company, valued at $5,860,991.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Warburg Pincus Llc sold 9,000,000 shares of Clearwater Analytics stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $22.41, for a total value of $201,690,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,864,693 shares of company stock valued at $246,818,342. 3.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Clearwater Analytics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thornburg Investment Management Inc. raised its holdings in Clearwater Analytics by 31.7% in the 1st quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock valued at $5,860,000 after acquiring an additional 79,707 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Clearwater Analytics by 22.3% during the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock worth $2,323,000 after buying an additional 23,971 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Clearwater Analytics during the 1st quarter worth $825,000. Jane Street Group LLC raised its holdings in shares of Clearwater Analytics by 234.2% during the 1st quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock worth $4,702,000 after buying an additional 186,273 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in shares of Clearwater Analytics during the 2nd quarter worth $1,797,000. 50.10% of the stock is owned by institutional investors and hedge funds.

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.