Royal Bank of Canada Cuts Clearwater Analytics (NYSE:CWAN) Price Target to $30.00

Clearwater Analytics (NYSE:CWAN) had its price target cut by Royal Bank of Canada from $36.00 to $30.00 in a research note released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also recently commented on CWAN. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $23.00 to $33.00 in a report on Thursday, November 7th. Oppenheimer boosted their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Morgan Stanley upped their price target on shares of Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their price target for the company from $35.00 to $32.00 in a report on Tuesday. Finally, Wells Fargo & Company upped their price objective on Clearwater Analytics from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.89.

Clearwater Analytics Price Performance

CWAN stock opened at $27.08 on Tuesday. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 2,710.61, a price-to-earnings-growth ratio of 7.27 and a beta of 0.72. The stock’s fifty day simple moving average is $29.20 and its 200-day simple moving average is $25.58. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.71. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

Insider Activity

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the company’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 value of $554,455.00. Following the completion of the transaction, the chief financial officer now owns 214,044 shares in the company, valued at $6,346,404.60. This represents a 8.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Monday, January 13th. The shares were sold at an average price of $25.89, for a total transaction of $1,294,500.00. Following the sale, the chief executive officer now owns 615,855 shares in the company, valued at $15,944,485.95. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 234,352 shares of company stock valued at $6,678,946. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jackson Square Capital LLC acquired a new position in Clearwater Analytics in the 4th quarter worth $558,000. Park Avenue Securities LLC purchased a new stake in shares of Clearwater Analytics during the fourth quarter worth about $345,000. GAMMA Investing LLC lifted its stake in shares of Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after acquiring an additional 468 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Clearwater Analytics by 348.3% in the third quarter. Principal Financial Group Inc. now owns 84,793 shares of the company’s stock worth $2,141,000 after acquiring an additional 65,878 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in 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 during the last quarter. 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.