Oppenheimer Raises Clearwater Analytics (NYSE:CWAN) Price Target to $40.00

Clearwater Analytics (NYSE:CWAN) had its price target boosted by research analysts at Oppenheimer from $35.00 to $40.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 34.32% from the stock’s current price.

Several other equities research analysts have also weighed in on CWAN. Royal Bank of Canada raised their target price on Clearwater Analytics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. The Goldman Sachs Group upped their target price on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday, November 7th. DA Davidson lowered shares of Clearwater Analytics from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $31.00 to $35.00 in a research note on Friday, November 8th. Piper Sandler raised their price objective on Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company upped their target price on Clearwater Analytics from $23.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.67.

Clearwater Analytics Stock Down 4.2 %

Clearwater Analytics stock traded down $1.30 during trading on Tuesday, reaching $29.78. The stock had a trading volume of 1,225,084 shares, compared to its average volume of 1,613,713. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.71. The business has a 50 day moving average price of $27.91 and a 200 day moving average price of $23.55. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The stock has a market cap of $7.36 billion, a PE ratio of 2,980.98, a P/E/G ratio of 11.09 and a beta of 0.68.

Insider Activity

In other news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the transaction, the chief financial officer now owns 224,044 shares in the company, valued at $5,860,991.04. This trade represents a 7.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $31.34, for a total value of $121,912.60. Following the sale, the executive now owns 6,373 shares of the company’s stock, valued at approximately $199,729.82. This represents a 37.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,770 shares of company stock valued at $1,826,606. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in Clearwater Analytics by 38.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,573 shares of the company’s stock valued at $771,000 after purchasing an additional 12,200 shares during the last quarter. California State Teachers Retirement System increased its position in Clearwater Analytics by 22.3% during the first quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock worth $2,323,000 after purchasing an additional 23,971 shares during the last quarter. Jane Street Group LLC raised its stake in Clearwater Analytics by 234.2% during the first quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock worth $4,702,000 after purchasing an additional 186,273 shares during the period. SG Americas Securities LLC acquired a new position in shares of Clearwater Analytics in the 2nd quarter valued at $355,000. Finally, Curated Wealth Partners LLC grew its stake in shares of Clearwater Analytics by 218.8% during the 2nd quarter. Curated Wealth Partners LLC now owns 17,480 shares of the company’s stock valued at $324,000 after buying an additional 32,198 shares during the period. 50.10% of the stock is owned by institutional investors and hedge funds.

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.