Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Given Average Rating of “Moderate Buy” by Analysts

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $33.80.

Several brokerages have commented on CWAN. UBS Group lifted their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $28.00 to $36.00 in a research note on Thursday, February 20th. Oppenheimer upped their target price on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their price target on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Morgan Stanley restated an “overweight” rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st.

Clearwater Analytics Stock Down 0.6 %

NYSE:CWAN opened at $26.52 on Friday. 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 has a twelve month low of $15.62 and a twelve month high of $35.71. The company has a market cap of $6.66 billion, a PE ratio of 15.98, a P/E/G ratio of 8.23 and a beta of 0.69. The company’s 50 day moving average is $28.26 and its two-hundred day moving average is $27.77.

Clearwater Analytics (NYSE:CWAN) last issued its 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). The firm had revenue of $126.47 million during the quarter, compared to analysts’ expectations of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. Analysts anticipate that Clearwater Analytics will post 0.18 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sandeep Sahai sold 218,687 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 $6,575,918.09. Following the completion of the sale, the chief executive officer now owns 681,588 shares of the company’s stock, valued at $20,495,351.16. This represents a 24.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $26.58, for a total transaction of $497,046.00. Following the completion of the sale, the chief financial officer now owns 358,502 shares of the company’s stock, valued at $9,528,983.16. This trade represents a 4.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 644,510 shares of company stock worth $18,688,862. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

A number of large investors have recently made changes to their positions in CWAN. Vanguard Group Inc. boosted its holdings in Clearwater Analytics by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock valued at $574,607,000 after purchasing an additional 2,455,844 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Clearwater Analytics by 3.2% in the third quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock valued at $457,909,000 after acquiring an additional 559,564 shares during the last quarter. Alliancebernstein L.P. grew its position in Clearwater Analytics by 66.0% in the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock worth $202,931,000 after acquiring an additional 2,931,445 shares during the period. Wellington Management Group LLP raised its position in Clearwater Analytics by 98.2% in the fourth quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock valued at $163,867,000 after purchasing an additional 2,950,555 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Clearwater Analytics by 52.4% in the 4th quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company’s stock valued at $126,972,000 after purchasing an additional 1,585,869 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.