Clearwater Analytics (NYSE:CWAN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Clearwater Analytics (NYSE:CWAN) had its price objective boosted by analysts at Wells Fargo & Company from $35.00 to $37.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 18.04% from the company’s current price.

CWAN has been the subject of a number of other reports. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $23.00 to $33.00 in a report on Thursday, November 7th. Royal Bank of Canada decreased their price target on Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. The Goldman Sachs Group boosted their price objective on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Oppenheimer boosted their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $28.00 to $36.00 in a research report on Thursday. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.80.

Clearwater Analytics Trading Up 4.7 %

Shares of NYSE:CWAN opened at $31.35 on Thursday. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $35.71. The company has a market capitalization of $7.74 billion, a PE ratio of 18.88, a PEG ratio of 7.43 and a beta of 0.72. The business has a 50 day moving average of $28.03 and a two-hundred day moving average of $27.11. 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 (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The company had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. As a group, analysts forecast that Clearwater Analytics will post 0.18 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sandeep Sahai sold 139,172 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the completion of the sale, the chief executive officer now directly owns 441,724 shares in the company, valued at approximately $12,783,492.56. The trade was a 23.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the business’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 sale, the chief financial officer now owns 214,044 shares of the company’s stock, valued at $6,346,404.60. The trade was a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 733,431 shares of company stock worth $21,444,493. 4.60% of the stock is owned by corporate insiders.

Institutional Trading of Clearwater Analytics

Several large investors have recently made changes to their positions in the company. Creative Planning purchased a new stake in Clearwater Analytics in the 3rd quarter valued at $505,000. Raymond James & Associates grew its holdings in Clearwater Analytics by 1.5% in the 3rd quarter. Raymond James & Associates now owns 658,579 shares of the company’s stock valued at $16,629,000 after buying an additional 9,976 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Clearwater Analytics in the 3rd quarter valued at $45,000. Moody Aldrich Partners LLC purchased a new stake in Clearwater Analytics in the 3rd quarter valued at $7,372,000. Finally, Zweig DiMenna Associates LLC purchased a new stake in Clearwater Analytics in the 3rd quarter valued at $4,941,000. 50.10% of the stock is currently 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.