Clearwater Analytics (NYSE:CWAN) Trading 5.9% Higher After Analyst Upgrade

Clearwater Analytics Holdings, Inc. (NYSE:CWAN)’s share price traded up 5.9% during mid-day trading on Friday after Royal Bank of Canada raised their price target on the stock from $30.00 to $36.00. Royal Bank of Canada currently has an outperform rating on the stock. Clearwater Analytics traded as high as $31.90 and last traded at $31.72. 869,034 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 2,278,112 shares. The stock had previously closed at $29.94.

CWAN has been the subject of a number of other reports. UBS Group boosted their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer boosted their price objective on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $23.00 to $33.00 in a research note on Thursday, November 7th. Piper Sandler upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $28.00 to $36.00 in a research note on Thursday. Finally, Morgan Stanley upgraded shares of Clearwater Analytics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $30.00 to $34.00 in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.80.

Insider Activity at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 139,172 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.94, for a total value of $4,027,637.68. Following the sale, the chief executive officer now directly owns 441,724 shares of the company’s stock, valued at $12,783,492.56. This represents a 23.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Subi Sethi sold 62,482 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the completion of the sale, the insider now directly owns 144,973 shares in the company, valued at $4,359,338.11. This represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 733,431 shares of company stock valued at $21,444,493 over the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Clearwater Analytics

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in shares of Clearwater Analytics by 57.4% during the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after purchasing an additional 468 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Clearwater Analytics in the 3rd quarter worth about $45,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Clearwater Analytics in the 4th quarter worth about $57,000. Financial Management Professionals Inc. acquired a new stake in shares of Clearwater Analytics in the 3rd quarter worth about $58,000. Finally, R Squared Ltd acquired a new stake in shares of Clearwater Analytics in the 4th quarter worth about $80,000. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Stock Performance

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 stock’s fifty day moving average is $28.03 and its two-hundred day moving average is $27.11. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 7.43 and a beta of 0.72.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The firm had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. On average, analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

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.