Clearwater Analytics (NYSE:CWAN) Price Target Raised to $33.00

Clearwater Analytics (NYSE:CWAN) had its price objective raised by Wells Fargo & Company from $23.00 to $33.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential downside of 5.25% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Oppenheimer boosted their price objective on shares of Clearwater Analytics from $25.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Morgan Stanley boosted their price objective on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $23.00 to $33.00 in a research report on Thursday. Citigroup initiated coverage on shares of Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 price objective for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.78.

Clearwater Analytics Stock Up 21.9 %

NYSE CWAN traded up $6.25 during mid-day trading on Thursday, reaching $34.83. The stock had a trading volume of 1,866,318 shares, compared to its average volume of 1,449,064. Clearwater Analytics has a 1 year low of $15.62 and a 1 year high of $35.07. The stock has a market cap of $8.58 billion, a PE ratio of -1,743.50, a price-to-earnings-growth ratio of 9.53 and a beta of 0.61. The company has a fifty day moving average price of $25.48 and a 200 day moving average price of $21.78. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78.

Clearwater Analytics (NYSE:CWAN) last posted its earnings results on Wednesday, November 6th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The business had revenue of $115.83 million during the quarter, compared to the consensus estimate of $113.37 million. On average, research analysts expect that Clearwater Analytics will post 0.14 earnings per share for the current year.

Insiders Place Their Bets

In other Clearwater Analytics news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $24.18, for a total value of $43,144,760.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $24.18, for a total transaction of $43,144,760.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James S. Cox sold 13,700 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $23.64, for a total transaction of $323,868.00. Following the sale, the chief financial officer now owns 232,503 shares in the company, valued at $5,496,370.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,864,693 shares of company stock worth $45,128,342 in the last 90 days. 3.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clearwater Analytics

A number of hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its stake in shares of Clearwater Analytics by 8.5% during the third quarter. Swiss National Bank now owns 312,900 shares of the company’s stock valued at $7,901,000 after purchasing an additional 24,600 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Clearwater Analytics by 16.3% during the third quarter. Thrivent Financial for Lutherans now owns 75,148 shares of the company’s stock valued at $1,898,000 after acquiring an additional 10,518 shares during the last quarter. Natixis Advisors LLC lifted its position in Clearwater Analytics by 59.2% during the third quarter. Natixis Advisors LLC now owns 71,260 shares of the company’s stock valued at $1,799,000 after acquiring an additional 26,506 shares during the last quarter. Connable Office Inc. purchased a new stake in Clearwater Analytics during the third quarter valued at approximately $201,000. Finally, Royce & Associates LP purchased a new stake in Clearwater Analytics during the third quarter valued at approximately $1,868,000. 50.10% of the stock is currently owned by 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.