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

Clearwater Analytics (NYSE:CWAN) had its target price hoisted by Royal Bank of Canada from $32.00 to $36.00 in a report published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently commented on CWAN. Citigroup started coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They set a “buy” rating and a $28.00 price objective on the stock. The Goldman Sachs Group increased their target price on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. DA Davidson lowered Clearwater Analytics from a “buy” rating to a “neutral” rating and increased their target price for the company from $31.00 to $35.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their target price for the company from $23.00 to $33.00 in a research report on Thursday, November 7th. Finally, Piper Sandler lifted their target price on shares of Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Clearwater Analytics presently has a consensus rating of “Hold” and an average price target of $31.11.

Clearwater Analytics Trading Up 1.4 %

NYSE CWAN opened at $32.38 on Friday. The company’s 50-day moving average price is $27.15 and its 200-day moving average price is $23.01. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The stock has a market cap of $8.00 billion, a PE ratio of 3,243.24, a PEG ratio of 11.41 and a beta of 0.61. Clearwater Analytics has a 12 month low of $15.62 and a 12 month high of $35.71.

Insider Activity

In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total value of $489,192.00. Following the sale, the chief financial officer now directly owns 224,044 shares in the company, valued at approximately $5,860,991.04. The trade was a 7.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Scott Stanley Erickson sold 3,890 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total transaction of $92,387.50. Following the sale, the executive now owns 4,844 shares in the company, valued at $115,045. This trade represents a 44.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,770 shares of company stock valued at $1,826,606. 4.60% of the stock is currently owned by insiders.

Institutional Trading of Clearwater Analytics

A number of institutional investors and hedge funds have recently bought and sold shares of CWAN. Hood River Capital Management LLC purchased a new stake in Clearwater Analytics during the second quarter worth about $43,280,000. Vanguard Group Inc. increased its stake in shares of Clearwater Analytics by 17.2% during the first quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock worth $267,676,000 after buying an additional 2,219,459 shares during the period. Champlain Investment Partners LLC purchased a new stake in shares of Clearwater Analytics during the third quarter worth approximately $53,559,000. State Street Corp increased its stake in shares of Clearwater Analytics by 38.7% during the third quarter. State Street Corp now owns 3,617,462 shares of the company’s stock worth $91,341,000 after buying an additional 1,009,548 shares during the period. Finally, Wasatch Advisors LP increased its stake in shares of Clearwater Analytics by 3.2% during the third quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock worth $457,909,000 after buying an additional 559,564 shares during the period. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

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.