Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $33.80.

CWAN has been the subject of a number of research analyst reports. Oppenheimer upped their price objective on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company upped their price objective on shares of Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. The Goldman Sachs Group upped their price objective on shares of Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Piper Sandler upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $28.00 to $36.00 in a research report on Thursday, February 20th.

Clearwater Analytics Price Performance

Shares of NYSE:CWAN opened at $31.13 on Tuesday. The firm has a 50 day moving average of $28.20 and a 200-day moving average of $27.39. The stock has a market capitalization of $7.69 billion, a PE ratio of 18.75, a PEG ratio of 8.23 and a beta of 0.72. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics has a 12 month low of $15.62 and a 12 month high of $35.71.

Clearwater Analytics (NYSE:CWAN) last issued its 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 firm had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. On average, equities research analysts predict that Clearwater Analytics will post 0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Souvik Das sold 76,844 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $2,310,699.08. Following the completion of the sale, the chief technology officer now directly owns 68,902 shares in the company, valued at $2,071,883.14. This represents a 52.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Subi Sethi sold 62,482 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the sale, the insider now owns 144,973 shares of the company’s stock, valued at approximately $4,359,338.11. This trade represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 733,431 shares of company stock valued at $21,444,493 in the last ninety days. 4.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clearwater Analytics

Several large investors have recently modified their holdings of the company. Creative Planning acquired a new stake in Clearwater Analytics in the third quarter worth $505,000. Financial Management Professionals Inc. acquired a new stake in Clearwater Analytics in the third quarter worth $58,000. US Bancorp DE grew its holdings in Clearwater Analytics by 418.5% in the third quarter. US Bancorp DE now owns 25,153 shares of the company’s stock worth $635,000 after purchasing an additional 20,302 shares during the period. Stephens Investment Management Group LLC acquired a new stake in Clearwater Analytics in the third quarter worth $11,071,000. Finally, Conestoga Capital Advisors LLC grew its holdings in Clearwater Analytics by 1.6% in the third quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company’s stock worth $171,156,000 after purchasing an additional 107,210 shares during the period. 50.10% of the stock is currently 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.