Royal Bank of Canada Forecasts Strong Price Appreciation for Clearwater Analytics (NYSE:CWAN) Stock

Clearwater Analytics (NYSE:CWAN) had its price target increased by Royal Bank of Canada from $32.00 to $36.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 12.71% from the stock’s previous close.

CWAN has been the topic of several other research reports. JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $23.00 to $33.00 in a research note on Thursday, November 7th. The Goldman Sachs Group increased their target price on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Oppenheimer lifted their target price on Clearwater Analytics from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Morgan Stanley upped their price target on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company lifted their price objective on Clearwater Analytics from $23.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Clearwater Analytics currently has a consensus rating of “Hold” and a consensus price target of $31.11.

Clearwater Analytics Price Performance

CWAN opened at $31.94 on Friday. The firm has a market cap of $7.89 billion, a PE ratio of 3,194.00, a P/E/G ratio of 11.34 and a beta of 0.61. The stock has a 50-day moving average price of $27.15 and a 200-day moving average price of $22.94. Clearwater Analytics has a 1 year low of $15.62 and a 1 year 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.

Insider Buying and Selling at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics 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 trade was a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total value of $92,387.50. Following the completion of the transaction, the executive now directly owns 4,844 shares in the company, valued at $115,045. This trade represents a 44.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,852,086 shares of company stock worth $44,971,367 in the last three months. 3.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its position in shares of Clearwater Analytics by 268.8% in the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after purchasing an additional 1,234 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in Clearwater Analytics in the 3rd quarter worth $45,000. Financial Management Professionals Inc. purchased a new stake in Clearwater Analytics in the 3rd quarter worth $58,000. Benjamin F. Edwards & Company Inc. raised its holdings in Clearwater Analytics by 124.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock valued at $81,000 after acquiring an additional 2,425 shares during the period. Finally, Amalgamated Bank purchased a new position in shares of Clearwater Analytics in the second quarter valued at about $90,000. 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.