Clearwater Analytics (NYSE:CWAN) Stock Price Up 5.9% on Analyst Upgrade

Clearwater Analytics Holdings, Inc. (NYSE:CWAN)’s share price rose 5.9% on Friday after Royal Bank of Canada raised their price target on the stock from $30.00 to $36.00. Royal Bank of Canada currently has an outperform rating on the stock. Clearwater Analytics traded as high as $31.90 and last traded at $31.72. Approximately 869,034 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 2,278,112 shares. The stock had previously closed at $29.94.

A number of other analysts have also recently weighed in on the company. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price target for the company from $23.00 to $33.00 in a research note on Thursday, November 7th. DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and cut their target price for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Morgan Stanley upgraded Clearwater Analytics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $30.00 to $34.00 in a research report on Friday, January 17th. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $28.00 to $36.00 in a research report on Thursday. Finally, The Goldman Sachs Group boosted their price target on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Insider Buying and Selling at Clearwater Analytics

In other news, CRO Scott Stanley Erickson sold 3,890 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $29.07, for a total transaction of $113,082.30. Following the sale, the executive now owns 6,373 shares of the company’s stock, valued at $185,263.11. The trade was a 37.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 214,044 shares in the company, valued at $6,346,404.60. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 299,162 shares of company stock valued at $8,386,024. 4.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clearwater Analytics

Several institutional investors have recently modified their holdings of CWAN. Creative Planning purchased a new stake in shares of Clearwater Analytics during the 3rd quarter worth approximately $505,000. Raymond James & Associates lifted its stake in Clearwater Analytics by 1.5% in the 3rd quarter. Raymond James & Associates now owns 658,579 shares of the company’s stock valued at $16,629,000 after buying an additional 9,976 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Clearwater Analytics in the 3rd quarter valued at approximately $45,000. Moody Aldrich Partners LLC purchased a new stake in Clearwater Analytics in the 3rd quarter valued at approximately $7,372,000. Finally, Zweig DiMenna Associates LLC purchased a new stake in Clearwater Analytics in the 3rd quarter valued at approximately $4,941,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Trading Up 6.2 %

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 business has a 50 day moving average of $27.99 and a 200-day moving average of $27.05. The stock has a market cap of $7.85 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 7.43 and a beta of 0.72.

Clearwater Analytics (NYSE:CWAN) last posted 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. On average, analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

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.