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

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

CWAN has been the subject of a number of recent research reports. Piper Sandler reissued a “neutral” rating and set a $20.00 price target on shares of Clearwater Analytics in a research note on Thursday, February 29th. JPMorgan Chase & Co. lowered their target price on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Wells Fargo & Company reduced their price target on shares of Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $19.00 price target on shares of Clearwater Analytics in a report on Thursday, May 2nd.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock opened at $19.01 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.59 and a current ratio of 5.59. The firm’s 50-day simple moving average is $18.15 and its 200-day simple moving average is $18.51. Clearwater Analytics has a twelve month low of $15.28 and a twelve month high of $21.89. The firm has a market cap of $4.67 billion, a P/E ratio of -237.63, a price-to-earnings-growth ratio of 7.44 and a beta of 0.58.

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

Insider Activity

In other Clearwater Analytics news, CFO James S. Cox sold 6,275 shares of the 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 filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Subi Sethi sold 18,599 shares of Clearwater Analytics stock in a transaction on Monday, May 20th. The shares were sold at an average price of $19.46, for a total value of $361,936.54. Following the completion of the sale, the insider now owns 77,519 shares in the company, valued at approximately $1,508,519.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James S. Cox sold 6,275 shares of Clearwater Analytics stock in a transaction on Monday, June 10th. The shares were sold at an average price of $20.10, for a total transaction of $126,127.50. Following the completion of the sale, the chief financial officer now owns 235,962 shares of the company’s stock, valued at approximately $4,742,836.20. The disclosure for this sale can be found here. Insiders have sold 7,193,079 shares of company stock valued at $141,831,984 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

A number of hedge funds have recently bought and sold shares of CWAN. Swiss National Bank raised its stake in Clearwater Analytics by 1.0% in the 3rd quarter. Swiss National Bank now owns 173,000 shares of the company’s stock valued at $3,346,000 after acquiring an additional 1,700 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Clearwater Analytics by 15.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 478,395 shares of the company’s stock valued at $9,252,000 after buying an additional 62,644 shares during the period. Citigroup Inc. increased its position in shares of Clearwater Analytics by 55.5% during the third quarter. Citigroup Inc. now owns 32,298 shares of the company’s stock valued at $625,000 after buying an additional 11,529 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Clearwater Analytics by 89.7% during the third quarter. Envestnet Asset Management Inc. now owns 197,011 shares of the company’s stock valued at $3,810,000 after buying an additional 93,163 shares during the period. Finally, Invesco Ltd. increased its position in shares of Clearwater Analytics by 2.4% in the third quarter. Invesco Ltd. now owns 1,735,327 shares of the company’s stock worth $33,561,000 after purchasing an additional 40,665 shares during the last quarter. 50.10% of the stock is owned by hedge funds and other 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.