Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $25.67.

Several brokerages have recently issued reports on CWAN. Royal Bank of Canada lifted their price target on Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Wells Fargo & Company lifted their price target on Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Citigroup began coverage on Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 price target on the stock. Piper Sandler reiterated a “neutral” rating and set a $23.00 price target on shares of Clearwater Analytics in a research report on Monday, September 9th. Finally, Oppenheimer lifted their target price on Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, October 7th.

Insider Transactions at Clearwater Analytics

In other news, CFO James S. Cox sold 14,850 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $22.02, for a total value of $326,997.00. Following the completion of the sale, the chief financial officer now owns 232,503 shares of the company’s stock, valued at $5,119,716.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Warburg Pincus Llc sold 9,000,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $22.41, for a total value of $201,690,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James S. Cox sold 14,850 shares of Clearwater Analytics stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $22.02, for a total value of $326,997.00. Following the sale, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at approximately $5,119,716.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,879,543 shares of company stock valued at $247,145,339 over the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Clearwater Analytics

Institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its position in Clearwater Analytics by 268.8% during the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after purchasing an additional 1,234 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Clearwater Analytics by 389.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after buying an additional 1,549 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Clearwater Analytics in the third quarter worth about $45,000. Amalgamated Bank acquired a new stake in shares of Clearwater Analytics in the second quarter worth about $90,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Clearwater Analytics in the second quarter worth about $91,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Stock Down 0.3 %

CWAN opened at $26.95 on Wednesday. Clearwater Analytics has a 12 month low of $15.62 and a 12 month high of $27.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78. The stock has a market cap of $6.62 billion, a P/E ratio of -336.88, a P/E/G ratio of 9.16 and a beta of 0.62. The stock’s 50 day moving average price is $24.93 and its 200 day moving average price is $21.02.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. The company had revenue of $106.79 million for the quarter, compared to analysts’ expectations of $105.51 million. During the same period last year, the firm earned ($0.03) EPS. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, research analysts predict that Clearwater Analytics will post 0.14 earnings per share for the current year.

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.