Clearwater Analytics (NYSE:CWAN) Stock Price Expected to Rise, Oppenheimer Analyst Says

Clearwater Analytics (NYSE:CWAN) had its price target increased by Oppenheimer from $35.00 to $40.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 33.42% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Citigroup began coverage on shares of Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 price target on the stock. The Goldman Sachs Group lifted their target price on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $23.00 to $33.00 in a research report on Thursday, November 7th. DA Davidson lowered shares of Clearwater Analytics from a “buy” rating to a “neutral” rating and lifted their target price for the company from $31.00 to $35.00 in a research report on Friday, November 8th. Finally, Royal Bank of Canada lifted their target price on shares of Clearwater Analytics from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Clearwater Analytics presently has an average rating of “Hold” and a consensus target price of $31.67.

Clearwater Analytics Stock Up 1.2 %

CWAN stock opened at $29.98 on Tuesday. The firm has a market cap of $7.41 billion, a PE ratio of 3,001.00, a P/E/G ratio of 11.10 and a beta of 0.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. The firm’s fifty day moving average is $28.08 and its 200 day moving average is $23.67. Clearwater Analytics has a one year low of $15.62 and a one year high of $35.71.

Insiders Place Their Bets

In other news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $30.34, for a total value of $567,358.00. Following the sale, the chief financial officer now directly owns 219,044 shares of the company’s stock, valued at approximately $6,645,794.96. The trade was a 7.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total transaction of $92,387.50. Following the completion of the sale, the executive now directly 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. Insiders have sold 67,770 shares of company stock valued at $1,826,606 over the last ninety days. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC grew its holdings in shares of Clearwater Analytics by 30.4% in the third quarter. Sanctuary Advisors LLC now owns 21,126 shares of the company’s stock valued at $533,000 after purchasing an additional 4,923 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Clearwater Analytics by 43.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 62,178 shares of the company’s stock valued at $1,570,000 after purchasing an additional 18,712 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Clearwater Analytics by 5.7% in the third quarter. Geode Capital Management LLC now owns 3,512,511 shares of the company’s stock valued at $88,710,000 after purchasing an additional 187,881 shares in the last quarter. Bullseye Asset Management LLC grew its holdings in shares of Clearwater Analytics by 46.1% in the third quarter. Bullseye Asset Management LLC now owns 111,000 shares of the company’s stock valued at $2,803,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Clearwater Analytics by 105.6% in the third quarter. Barclays PLC now owns 571,860 shares of the company’s stock valued at $14,439,000 after purchasing an additional 293,719 shares in the last quarter. Institutional investors and hedge funds 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.