Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives $31.89 Average Target Price from Analysts

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) have received an average rating of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $31.89.

A number of research firms have issued reports on CWAN. Citigroup initiated coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 price target for the company. Piper Sandler raised their target price on Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price target on Clearwater Analytics from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $23.00 to $33.00 in a research report on Thursday, November 7th. Finally, DA Davidson downgraded shares of Clearwater Analytics from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $31.00 to $35.00 in a research note on Friday, November 8th.

Insider Activity

In related news, CFO James S. Cox sold 18,700 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 224,044 shares in the company, valued at approximately $5,860,991.04. This represents a 7.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $25.38, for a total transaction of $98,728.20. Following the completion of the sale, the executive now owns 6,373 shares in the company, valued at $161,746.74. The trade was a 37.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,942 shares of company stock worth $5,874,939 in the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Clearwater Analytics during the 3rd quarter worth approximately $45,000. Financial Management Professionals Inc. acquired a new position in shares of Clearwater Analytics in the third quarter valued at $58,000. Advisors Asset Management Inc. raised its position in shares of Clearwater Analytics by 38.6% in the third quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock valued at $90,000 after purchasing an additional 995 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Clearwater Analytics by 124.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock worth $81,000 after buying an additional 2,425 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Clearwater Analytics during the 3rd quarter worth about $117,000. Institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Price Performance

NYSE CWAN opened at $29.56 on Thursday. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $7.30 billion, a PE ratio of 2,956.00, a price-to-earnings-growth ratio of 10.57 and a beta of 0.69. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $35.71. The company has a 50 day moving average price of $28.69 and a two-hundred day moving average price of $24.18.

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.