Clearwater Analytics (NYSE:CWAN) Price Target Raised to $35.00 at Oppenheimer

Clearwater Analytics (NYSE:CWAN) had its price target hoisted by equities research analysts at Oppenheimer from $31.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 5.80% from the company’s previous close.

CWAN has been the topic of a number of other reports. Royal Bank of Canada increased their price target on Clearwater Analytics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup began coverage on Clearwater Analytics in a report on Monday, August 19th. They issued a “buy” rating and a $28.00 price objective for the company. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price target for the company from $23.00 to $33.00 in a research note on Thursday. Piper Sandler increased their price target on Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, The Goldman Sachs Group increased their price target on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Clearwater Analytics presently has an average rating of “Moderate Buy” and a consensus target price of $28.90.

Clearwater Analytics Stock Up 15.7 %

NYSE CWAN traded up $4.50 on Thursday, hitting $33.08. 5,131,583 shares of the stock traded hands, compared to its average volume of 1,465,435. The stock has a 50-day moving average of $25.48 and a 200 day moving average of $21.78. Clearwater Analytics has a twelve month low of $15.62 and a twelve month high of $35.71. The company has a market capitalization of $8.15 billion, a P/E ratio of -1,654.00, a price-to-earnings-growth ratio of 9.53 and a beta of 0.61. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $115.83 million for the quarter, compared to analysts’ expectations of $113.37 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. As a group, analysts expect that Clearwater Analytics will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total transaction of $489,192.00. Following the completion of the transaction, the chief financial officer now owns 224,044 shares of the company’s stock, valued at approximately $5,860,991.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO James S. Cox sold 13,700 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $23.64, for a total transaction of $323,868.00. Following the completion of the sale, the chief financial officer now owns 232,503 shares in the company, valued at $5,496,370.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total transaction of $489,192.00. Following the completion of the sale, the chief financial officer now owns 224,044 shares of the company’s stock, valued at $5,860,991.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,864,693 shares of company stock worth $45,128,342 over the last three months. Corporate insiders own 3.46% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chartwell Investment Partners LLC increased its position in Clearwater Analytics by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company’s stock valued at $1,233,000 after acquiring an additional 395 shares in the last quarter. Blair William & Co. IL grew its position in shares of Clearwater Analytics by 1.6% during the 2nd quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock worth $786,000 after buying an additional 680 shares during the period. Arizona State Retirement System grew its position in shares of Clearwater Analytics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 40,894 shares of the company’s stock worth $757,000 after buying an additional 828 shares during the period. Advisors Asset Management Inc. grew its position in shares of Clearwater Analytics by 268.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after buying an additional 1,234 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Clearwater Analytics during the 3rd quarter worth approximately $45,000. 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.