James Cox Sells 5,919 Shares of Clearwater Analytics (NYSE:CWAN) Stock

Key Points

• James Cox, CFO of Clearwater Analytics, sold 5,919 shares of the company's stock at an average price of $17.68, totaling approximately $104,648, which indicates a decrease in his position by 1.69%.
• Clearwater Analytics reported quarterly revenue of $181.94 million, exceeding expectations, but missed the earnings per share estimate, posting $0.12 compared to the expected $0.13.
• The company has initiated a share repurchase program, authorizing the repurchase of up to **$100 million** in shares, signaling confidence from the Board that the stock is undervalued.

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) CFO James Cox sold 5,919 shares of Clearwater Analytics stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $104,647.92. Following the sale, the chief financial officer owned 343,983 shares of the company's stock, valued at approximately $6,081,619.44. This trade represents a 1.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Clearwater Analytics Trading Down 1.5%

CWAN stock traded down $0.27 during midday trading on Wednesday, hitting $17.76. The company had a trading volume of 4,367,728 shares, compared to its average volume of 4,463,715. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.61 and a 52 week high of $35.71. The stock's 50 day moving average price is $19.71 and its 200 day moving average price is $22.03. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 112.62, a PEG ratio of 4.56 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $181.94 million for the quarter, compared to analysts' expectations of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. Clearwater Analytics's quarterly revenue was up 70.4% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. As a group, equities research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics announced that its Board of Directors has approved a share repurchase program on Wednesday, September 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of Clearwater Analytics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Apollon Wealth Management LLC increased its position in shares of Clearwater Analytics by 3.9% during the first quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company's stock worth $331,000 after purchasing an additional 459 shares in the last quarter. Huntleigh Advisors Inc. grew its holdings in shares of Clearwater Analytics by 1.9% during the first quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company's stock worth $863,000 after buying an additional 595 shares during the last quarter. Redwood Investments LLC boosted its holdings in Clearwater Analytics by 0.8% in the 1st quarter. Redwood Investments LLC now owns 74,651 shares of the company's stock valued at $2,001,000 after purchasing an additional 608 shares in the last quarter. Abacus FCF Advisors LLC boosted its holdings in Clearwater Analytics by 2.8% in the 1st quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company's stock valued at $674,000 after purchasing an additional 682 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Clearwater Analytics by 84.6% in the 2nd quarter. Bessemer Group Inc. now owns 1,545 shares of the company's stock valued at $35,000 after purchasing an additional 708 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CWAN. Oppenheimer dropped their target price on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, June 11th. Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the company an "overweight" rating in a research report on Tuesday, June 24th. DA Davidson decreased their target price on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $36.00 target price on shares of Clearwater Analytics in a research report on Wednesday, September 17th. Finally, Zacks Research raised Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.67.

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.

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