Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Short Interest Down 17.0% in February

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 6,900,000 shares, a drop of 17.0% from the February 13th total of 8,310,000 shares. Based on an average daily trading volume, of 2,550,000 shares, the days-to-cover ratio is presently 2.7 days. Approximately 3.3% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CWAN shares. Oppenheimer upped their price objective on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada increased their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and dropped their target price for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. Finally, UBS Group raised their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.80.

Clearwater Analytics Trading Up 0.9 %

Shares of NYSE CWAN traded up $0.24 during midday trading on Thursday, reaching $26.72. 889,222 shares of the stock were exchanged, compared to its average volume of 1,899,187. The company has a market capitalization of $6.71 billion, a P/E ratio of 16.09, a P/E/G ratio of 8.23 and a beta of 0.69. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.71. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $28.28 and a 200-day moving average price of $27.77.

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

Insider Activity at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction on Monday, January 13th. The shares were sold at an average price of $25.89, for a total transaction of $1,294,500.00. Following the completion of the sale, the chief executive officer now directly owns 615,855 shares in the company, valued at approximately $15,944,485.95. The trade was a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $26.94, for a total transaction of $503,778.00. Following the transaction, the chief financial officer now owns 279,857 shares of the company’s stock, valued at $7,539,347.58. This represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 644,510 shares of company stock valued at $18,688,862 over the last ninety days. 4.60% of the stock is owned by company insiders.

Institutional Trading of Clearwater Analytics

Several institutional investors have recently added to or reduced their stakes in CWAN. Vanguard Group Inc. increased its stake in Clearwater Analytics by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock valued at $574,607,000 after buying an additional 2,455,844 shares during the period. Wasatch Advisors LP increased its stake in Clearwater Analytics by 3.2% during the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock valued at $457,909,000 after buying an additional 559,564 shares during the period. Alliancebernstein L.P. increased its stake in Clearwater Analytics by 66.0% during the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after buying an additional 2,931,445 shares during the period. Wellington Management Group LLP increased its stake in Clearwater Analytics by 98.2% during the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock valued at $163,867,000 after buying an additional 2,950,555 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Clearwater Analytics by 52.4% during the 4th quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company’s stock valued at $126,972,000 after buying an additional 1,585,869 shares during the period. 50.10% of the stock is owned by institutional investors and hedge funds.

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.