Clearwater Analytics (NYSE:CWAN) Price Target Raised to $32.00

Clearwater Analytics (NYSE:CWAN) had its price target hoisted by research analysts at Royal Bank of Canada from $28.00 to $32.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential downside of 10.19% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $23.00 to $33.00 in a research note on Thursday. Wells Fargo & Company increased their price target on Clearwater Analytics from $23.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup started coverage on Clearwater Analytics in a research note on Monday, August 19th. They set a “buy” rating and a $28.00 price objective on the stock. Oppenheimer raised their target price on shares of Clearwater Analytics from $25.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Finally, Morgan Stanley upped their price target on shares of Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.50.

Clearwater Analytics Stock Up 24.7 %

Shares of NYSE:CWAN traded up $7.05 during midday trading on Thursday, reaching $35.63. 2,533,355 shares of the company were exchanged, compared to its average volume of 1,452,582. The firm has a market cap of $8.78 billion, a PE ratio of -1,764.00, a P/E/G ratio of 9.53 and a beta of 0.61. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $35.67. The stock has a fifty day simple moving average of $25.48 and a two-hundred day simple moving average of $21.78.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $115.83 million for the quarter, compared to analyst estimates of $113.37 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. As a group, sell-side analysts forecast that Clearwater Analytics will post 0.14 earnings per share for the current year.

Insider Activity at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of the business’s 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 transaction, the chief financial officer now directly owns 224,044 shares in the company, valued at approximately $5,860,991.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total value of $489,192.00. Following the sale, the chief financial officer now directly owns 224,044 shares of the company’s stock, valued at $5,860,991.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $25.38, for a total transaction of $98,728.20. Following the completion of the transaction, the executive now directly owns 6,373 shares of the company’s stock, valued at $161,746.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,864,693 shares of company stock valued at $45,128,342 over the last quarter. 3.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. William Blair Investment Management LLC increased its holdings in Clearwater Analytics by 42.5% in the first quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company’s stock valued at $183,344,000 after purchasing an additional 3,090,352 shares during the period. Hood River Capital Management LLC acquired a new stake in Clearwater Analytics during the 2nd quarter worth about $43,280,000. Vanguard Group Inc. raised its position in shares of Clearwater Analytics by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock worth $267,676,000 after acquiring an additional 2,219,459 shares in the last quarter. Bamco Inc. NY lifted its stake in shares of Clearwater Analytics by 30.8% in the 1st quarter. Bamco Inc. NY now owns 5,359,172 shares of the company’s stock valued at $94,804,000 after purchasing an additional 1,262,150 shares during the period. Finally, Stephens Investment Management Group LLC bought a new stake in shares of Clearwater Analytics during the 3rd quarter valued at about $11,071,000. 50.10% of the stock is currently 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.