Clearwater Analytics (NYSE:CWAN) Given New $38.00 Price Target at UBS Group

Clearwater Analytics (NYSE:CWAN) had its target price boosted by investment analysts at UBS Group from $36.00 to $38.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 21.23% from the company’s current price.

Other equities research analysts have also issued reports about the stock. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and cut their price objective for the company from $35.00 to $32.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $23.00 to $33.00 in a report on Thursday, November 7th. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $28.00 to $36.00 in a report on Thursday. Oppenheimer increased their target price on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their target price on Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and an average price target of $33.80.

Clearwater Analytics Trading Up 4.7 %

Clearwater Analytics stock opened at $31.35 on Thursday. The firm has a 50 day moving average of $28.03 and a 200 day moving average of $27.11. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 7.43 and a beta of 0.72. Clearwater Analytics has a 12-month low of $15.62 and a 12-month 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.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $120.34 million. As a group, research analysts predict that Clearwater Analytics will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In related news, CRO Scott Stanley Erickson sold 76,256 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $2,293,017.92. Following the completion of the sale, the executive now directly owns 78,363 shares in the company, valued at $2,356,375.41. This trade represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $29.65, for a total value of $554,455.00. Following the completion of the sale, the chief financial officer now owns 214,044 shares of the company’s stock, valued at approximately $6,346,404.60. This represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 733,431 shares of company stock worth $21,444,493 over the last three months. 4.60% of the stock is owned by insiders.

Institutional Trading of Clearwater Analytics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Clearwater Analytics by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock worth $574,607,000 after purchasing an additional 2,455,844 shares during the last quarter. Wasatch Advisors LP lifted its position in shares of Clearwater Analytics by 3.2% during the third quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock worth $457,909,000 after purchasing an additional 559,564 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Clearwater Analytics by 66.0% during the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock worth $202,931,000 after purchasing an additional 2,931,445 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of Clearwater Analytics by 1.6% during the third quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company’s stock worth $171,156,000 after purchasing an additional 107,210 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Clearwater Analytics by 98.2% during the fourth quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock worth $163,867,000 after purchasing an additional 2,950,555 shares during the last quarter. 50.10% of the stock is currently owned by institutional investors.

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.