Brokerages Set Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Price Target at $21.70

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has been given an average recommendation of “Moderate Buy” by the ten research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $21.70.

Several equities research analysts recently issued reports on the company. Morgan Stanley reissued an “equal weight” rating and set a $19.00 price target on shares of Clearwater Analytics in a research report on Thursday, May 2nd. Wells Fargo & Company dropped their price target on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $20.00 target price on shares of Clearwater Analytics in a research report on Thursday, February 29th.

Clearwater Analytics Stock Performance

Clearwater Analytics stock opened at $19.00 on Thursday. The stock has a market cap of $4.67 billion, a P/E ratio of -237.50, a price-to-earnings-growth ratio of 7.25 and a beta of 0.58. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average of $18.25 and a 200-day moving average of $18.50. Clearwater Analytics has a 52 week low of $15.28 and a 52 week high of $21.89.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $102.70 million for the quarter, compared to analyst estimates of $100.55 million. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The business’s revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. On average, analysts expect that Clearwater Analytics will post 0.13 EPS for the current fiscal year.

Insider Activity at Clearwater Analytics

In related news, CFO James S. Cox sold 6,275 shares of Clearwater Analytics stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $20.10, for a total transaction of $126,127.50. Following the sale, the chief financial officer now directly owns 235,962 shares in the company, valued at $4,742,836.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Warburg Pincus Llc sold 7,000,000 shares of Clearwater Analytics stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $19.71, for a total transaction of $137,970,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James S. Cox sold 6,275 shares of Clearwater Analytics stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.10, for a total value of $126,127.50. Following the transaction, 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. Insiders have sold a total of 7,193,079 shares of company stock worth $141,831,984 over the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP grew its holdings in Clearwater Analytics by 35.6% during the first quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after acquiring an additional 4,304,286 shares during the period. Vanguard Group Inc. increased its stake in Clearwater Analytics by 17.2% in 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 in the last quarter. William Blair Investment Management LLC increased its stake in Clearwater Analytics by 42.5% in the 1st quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company’s stock worth $183,344,000 after purchasing an additional 3,090,352 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in Clearwater Analytics by 1.2% in the 1st quarter. Conestoga Capital Advisors LLC now owns 6,506,247 shares of the company’s stock worth $115,096,000 after purchasing an additional 79,880 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in Clearwater Analytics by 0.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,933,075 shares of the company’s stock worth $114,746,000 after purchasing an additional 30,771 shares in the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

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.