Clearwater Analytics (NYSE:CWAN) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Clearwater Analytics (NYSE:CWAN) had its price target increased by Royal Bank of Canada from $30.00 to $36.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also issued reports on the company. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their price target for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Oppenheimer upped their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company lifted their price target on shares of Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group increased their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $28.00 to $36.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

Clearwater Analytics Trading Up 10.2 %

NYSE CWAN opened at $29.79 on Thursday. Clearwater Analytics has a one year low of $15.62 and a one year high of $35.71. The firm has a 50 day simple moving average of $27.99 and a 200-day simple moving average of $27.05. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 2,982.28, a PEG ratio of 7.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The business had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a return on equity of 5.68% and a net margin of 0.21%. Equities research analysts anticipate that Clearwater Analytics will post 0.14 EPS for the current fiscal year.

Insider Activity at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $29.65, for a total transaction of $554,455.00. Following the transaction, the chief financial officer now owns 214,044 shares in the company, valued at $6,346,404.60. This trade represents a 8.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $27.63, for a total value of $1,381,500.00. Following the transaction, the chief executive officer now directly owns 615,855 shares in the company, valued at approximately $17,016,073.65. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 299,162 shares of company stock valued at $8,386,024 in the last ninety days. Insiders own 4.60% of the company’s stock.

Institutional Trading of Clearwater Analytics

Several institutional investors and hedge funds have recently bought and sold shares of CWAN. Chartwell Investment Partners LLC increased its stake in Clearwater Analytics by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company’s stock valued at $1,233,000 after purchasing an additional 395 shares during the period. GAMMA Investing LLC grew its holdings in shares of Clearwater Analytics by 57.4% during the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after buying an additional 468 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Clearwater Analytics by 3.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company’s stock valued at $469,000 after acquiring an additional 502 shares during the period. Exchange Traded Concepts LLC raised its stake in Clearwater Analytics by 11.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company’s stock valued at $142,000 after acquiring an additional 521 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its position in Clearwater Analytics by 5.5% during the 3rd quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock worth $288,000 after acquiring an additional 598 shares during the period. Hedge funds and other institutional investors own 50.10% of the company’s stock.

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.