Clearwater Analytics (NYSE:CWAN) Price Target Raised to $23.00

Clearwater Analytics (NYSE:CWAN) had its price objective boosted by Piper Sandler from $20.00 to $23.00 in a research note released on Thursday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

CWAN has been the topic of several other reports. Oppenheimer raised Clearwater Analytics from a market perform rating to an outperform rating and set a $25.00 target price on the stock in a research note on Monday, July 8th. Wells Fargo & Company lifted their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the stock an overweight rating in a research report on Thursday. Morgan Stanley restated an equal weight rating and set a $19.00 target price on shares of Clearwater Analytics in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Clearwater Analytics from $22.00 to $20.00 and set a neutral rating for the company in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $23.00.

Clearwater Analytics Stock Performance

Shares of CWAN stock opened at $23.76 on Thursday. The company has a market capitalization of $5.84 billion, a P/E ratio of -297.00, a PEG ratio of 9.19 and a beta of 0.57. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $23.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.59 and a current ratio of 5.59. The stock has a 50 day moving average price of $19.41 and a two-hundred day moving average price of $18.48.

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

Insider Buying and Selling at Clearwater Analytics

In other news, CFO James S. Cox sold 6,275 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $20.10, for a total value of $126,127.50. Following the sale, the chief financial officer now directly owns 235,962 shares of the company’s stock, valued at approximately $4,742,836.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Clearwater Analytics news, CTO Souvik Das sold 25,000 shares of Clearwater Analytics stock in a transaction on Monday, July 15th. The stock was sold at an average price of $18.92, for a total transaction of $473,000.00. Following the completion of the transaction, the chief technology officer now owns 10,453 shares in the company, valued at $197,770.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James S. Cox sold 6,275 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $20.10, for a total value of $126,127.50. Following the completion of the sale, the chief financial officer now directly owns 235,962 shares in the company, valued at $4,742,836.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,248,094 shares of company stock valued at $142,921,159. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in Clearwater Analytics by 65.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock valued at $67,860,000 after purchasing an additional 1,335,802 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Clearwater Analytics by 46.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 699,887 shares of the company’s stock worth $14,019,000 after acquiring an additional 221,492 shares during the last quarter. Thornburg Investment Management Inc. lifted its position in Clearwater Analytics by 31.7% in the 1st quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock valued at $5,860,000 after acquiring an additional 79,707 shares in the last quarter. Swiss National Bank boosted its stake in Clearwater Analytics by 37.3% during the 4th quarter. Swiss National Bank now owns 237,500 shares of the company’s stock valued at $4,757,000 after purchasing an additional 64,500 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Clearwater Analytics by 42.1% in the 4th quarter. Raymond James & Associates now owns 621,031 shares of the company’s stock worth $12,439,000 after purchasing an additional 183,899 shares in the last quarter. Hedge funds and other institutional investors 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.