Clearwater Analytics (NYSE:CWAN) Price Target Raised to $28.00

Clearwater Analytics (NYSE:CWAN) had its price objective upped by Royal Bank of Canada from $25.00 to $28.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also issued reports on CWAN. Piper Sandler reaffirmed a neutral rating and issued a $23.00 price objective on shares of Clearwater Analytics in a research note on Monday, September 9th. Wells Fargo & Company raised their price target on Clearwater Analytics from $22.00 to $23.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. Citigroup began coverage on shares of Clearwater Analytics in a research report on Monday, August 19th. They set a buy rating and a $28.00 price objective on the stock. Finally, Oppenheimer upgraded shares of Clearwater Analytics from a market perform rating to an outperform rating and set a $25.00 target price for the company in a report on Monday, July 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $23.90.

Clearwater Analytics Trading Down 1.1 %

CWAN stock opened at $25.29 on Wednesday. The firm has a market cap of $6.21 billion, a PE ratio of -316.13, a price-to-earnings-growth ratio of 8.54 and a beta of 0.61. The firm has a fifty day moving average price of $22.88 and a 200 day moving average price of $19.64. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $25.81.

Clearwater Analytics (NYSE:CWAN) last posted its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The firm had revenue of $106.79 million for the quarter, compared to the consensus estimate of $105.51 million. During the same period in the previous year, the firm posted ($0.03) EPS. The business’s quarterly revenue was up 18.8% on a year-over-year basis. Sell-side analysts anticipate that Clearwater Analytics will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $24.44, for a total transaction of $457,028.00. Following the completion of the sale, the chief financial officer now owns 227,503 shares in the company, valued at approximately $5,560,173.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $24.44, for a total transaction of $457,028.00. Following the transaction, the chief financial officer now directly owns 227,503 shares in the company, valued at approximately $5,560,173.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total value of $92,387.50. Following the sale, the executive now directly owns 4,844 shares of the company’s stock, valued at $115,045. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,897,118 shares of company stock worth $247,319,596. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CWAN. Wasatch Advisors LP raised its stake in Clearwater Analytics by 35.6% in the first quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after buying an additional 4,304,286 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Clearwater Analytics by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock worth $267,676,000 after purchasing an additional 2,219,459 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Clearwater Analytics by 1.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock valued at $210,659,000 after purchasing an additional 128,402 shares in the last quarter. William Blair Investment Management LLC grew its stake in Clearwater Analytics by 0.6% in the second quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock valued at $193,178,000 after purchasing an additional 66,528 shares during the last quarter. Finally, Conestoga Capital Advisors LLC raised its holdings in Clearwater Analytics by 2.5% in the second quarter. Conestoga Capital Advisors LLC now owns 6,671,247 shares of the company’s stock worth $123,551,000 after purchasing an additional 165,000 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors.

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.