Brokerages Set Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Price Target at $33.80

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has been assigned an average rating of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $33.30.

A number of equities analysts have recently commented on the stock. Wells Fargo & Company cut their target price on shares of Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $35.00 to $32.00 in a report on Tuesday, January 14th. Royal Bank of Canada upped their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $28.00 to $36.00 in a research note on Thursday, February 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st.

Clearwater Analytics Trading Up 2.6 %

NYSE CWAN opened at $21.87 on Wednesday. The firm’s fifty day moving average price is $26.48 and its 200 day moving average price is $27.71. Clearwater Analytics has a 12 month low of $15.62 and a 12 month high of $35.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 8.23 and a beta of 0.76.

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

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $23.17, for a total value of $433,279.00. Following the completion of the transaction, the chief financial officer now directly owns 358,885 shares of the company’s stock, valued at approximately $8,315,365.45. This trade represents a 4.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Scott Stanley Erickson sold 76,256 shares of the business’s stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 644,510 shares of company stock valued at $18,478,363. 4.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CWAN. Wellington Management Group LLP increased its holdings 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 acquiring an additional 2,950,555 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Clearwater Analytics by 66.0% in the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after purchasing an additional 2,931,445 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Clearwater Analytics by 13.3% during the 4th 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. Norges Bank purchased a new stake in Clearwater Analytics in the 4th quarter valued at approximately $59,402,000. Finally, Blair William & Co. IL grew its holdings in Clearwater Analytics by 3,835.2% during the 4th quarter. Blair William & Co. IL now owns 1,754,732 shares of the company’s stock valued at $48,290,000 after buying an additional 1,710,141 shares during the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

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.