Clearwater Analytics (NYSE:CWAN) Given New $23.00 Price Target at Wells Fargo & Company

Clearwater Analytics (NYSE:CWAN) had its price objective lifted by Wells Fargo & Company from $22.00 to $23.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued research reports about the company. Oppenheimer upgraded Clearwater Analytics from a market perform rating to an outperform rating and set a $25.00 price target for the company in a report on Monday, July 8th. Morgan Stanley reiterated an equal weight rating and issued a $19.00 price target on shares of Clearwater Analytics in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lowered their price target on Clearwater Analytics from $22.00 to $20.00 and set a neutral rating for the company in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $22.36.

Clearwater Analytics Trading Down 2.8 %

Shares of NYSE:CWAN traded down $0.67 during trading hours on Thursday, hitting $22.85. 481,288 shares of the company’s stock traded hands, compared to its average volume of 1,469,583. Clearwater Analytics has a 1 year low of $15.62 and a 1 year high of $23.55. The business has a fifty day moving average price of $19.22 and a 200-day moving average price of $18.41. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.11.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $106.79 million during the quarter, compared to analyst estimates of $105.51 million. Clearwater Analytics had a positive return on equity of 3.61% and a negative net margin of 1.14%. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) earnings per share. Equities research analysts anticipate that Clearwater Analytics will post 0.13 earnings per share for the current fiscal year.

Insider Transactions at Clearwater Analytics

In other news, insider Subi Sethi sold 18,599 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $19.46, for a total transaction of $361,936.54. Following the transaction, the insider now directly owns 77,519 shares of the company’s stock, valued at $1,508,519.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Subi Sethi sold 18,599 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $19.46, for a total transaction of $361,936.54. Following the transaction, the insider now directly owns 77,519 shares of the company’s stock, valued at $1,508,519.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Warburg Pincus Llc sold 7,000,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $19.71, for a total transaction of $137,970,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,233,244 shares of company stock valued at $142,594,162. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds have recently added to or reduced their stakes in CWAN. Raymond James & Associates raised its stake in shares of Clearwater Analytics by 42.1% during the 4th quarter. Raymond James & Associates now owns 621,031 shares of the company’s stock valued at $12,439,000 after buying an additional 183,899 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Clearwater Analytics by 649.8% in the fourth quarter. Fifth Third Bancorp now owns 17,096 shares of the company’s stock valued at $342,000 after acquiring an additional 14,816 shares during the period. Arizona State Retirement System lifted its holdings in Clearwater Analytics by 50.3% in the fourth quarter. Arizona State Retirement System now owns 33,666 shares of the company’s stock valued at $674,000 after acquiring an additional 11,264 shares during the period. Asset Management One Co. Ltd. acquired a new position in Clearwater Analytics in the fourth quarter valued at approximately $134,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Clearwater Analytics by 65.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock valued at $67,860,000 after acquiring an additional 1,335,802 shares during the period. 50.10% of the stock is owned by hedge funds and other institutional investors.

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.