Clearwater Analytics (NYSE:CWAN) Posts Earnings Results

Clearwater Analytics (NYSE:CWAN) released its quarterly earnings results on Wednesday. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02, reports. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The company had revenue of $115.83 million for the quarter, compared to the consensus estimate of $113.37 million. Clearwater Analytics updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Clearwater Analytics Stock Down 3.2 %

CWAN traded down $1.05 on Friday, reaching $31.74. 1,104,741 shares of the company traded hands, compared to its average volume of 1,469,774. The stock’s 50 day moving average price is $25.64 and its 200-day moving average price is $21.85. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.71. The company has a market cap of $7.82 billion, a price-to-earnings ratio of -1,638.50, a PEG ratio of 9.53 and a beta of 0.61. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78.

Insider Activity at Clearwater Analytics

In related news, CFO James S. Cox sold 13,700 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $23.64, for a total transaction of $323,868.00. Following the transaction, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at approximately $5,496,370.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James S. Cox sold 13,700 shares of Clearwater Analytics stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $23.64, for a total transaction of $323,868.00. Following the completion of the sale, the chief financial officer now owns 232,503 shares of the company’s stock, valued at $5,496,370.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,864,693 shares of company stock valued at $45,128,342. Corporate insiders own 3.46% of the company’s stock.

Institutional Trading of Clearwater Analytics

A number of institutional investors have recently added to or reduced their stakes in CWAN. Advisors Asset Management Inc. lifted its stake in Clearwater Analytics by 268.8% in the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after acquiring an additional 1,234 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Clearwater Analytics in the third quarter worth $45,000. Financial Management Professionals Inc. acquired a new stake in shares of Clearwater Analytics in the third quarter worth $58,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Clearwater Analytics by 124.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock worth $81,000 after buying an additional 2,425 shares during the last quarter. Finally, Amalgamated Bank acquired a new stake in shares of Clearwater Analytics in the second quarter worth $90,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CWAN has been the topic of several recent research reports. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $23.00 to $33.00 in a research note on Thursday. Royal Bank of Canada lifted their price objective on shares of Clearwater Analytics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company lifted their price objective on shares of Clearwater Analytics from $23.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday. The Goldman Sachs Group lifted their price objective on shares of Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research note on Thursday. Finally, Piper Sandler lifted their price objective on shares of Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Clearwater Analytics presently has a consensus rating of “Hold” and an average target price of $30.67.

About Clearwater Analytics

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.