Analysts Set Clearwater Analytics Holdings, Inc. (NYSE:CWAN) PT at $23.78

by · The Markets Daily

Clearwater Analytics Holdings, Inc. (NYSE:CWAN – Get Free Report) has received an average rating of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $23.78.

CWAN has been the topic of several analyst reports. Wells Fargo & Company raised their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Piper Sandler restated a “neutral” rating and issued a $23.00 price target on shares of Clearwater Analytics in a report on Monday, September 9th. Royal Bank of Canada upped their price objective on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Oppenheimer raised shares of Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research report on Monday, July 8th. Finally, Citigroup started coverage on shares of Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 price target for the company.

Get Our Latest Stock Analysis on Clearwater Analytics

Clearwater Analytics Trading Up 1.4 %

Shares of CWAN stock opened at $25.38 on Friday. Clearwater Analytics has a twelve month low of $15.62 and a twelve month high of $26.02. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of -317.25, a PEG ratio of 9.30 and a beta of 0.62. The firm has a 50-day moving average price of $23.96 and a 200 day moving average price of $20.23. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11.

Clearwater Analytics (NYSE:CWAN – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $106.79 million during the quarter, compared to analyst estimates of $105.51 million. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The company’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) earnings per share. Research analysts forecast that Clearwater Analytics will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearwater Analytics

In other news, CFO James S. Cox sold 11,275 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $18.92, for a total value of $213,323.00. Following the completion of the sale, the chief financial officer now owns 232,503 shares of the company’s stock, valued at $4,398,956.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO James S. Cox sold 11,275 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $18.92, for a total value of $213,323.00. Following the completion of the sale, the chief financial officer now owns 232,503 shares of the company’s stock, valued at $4,398,956.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Subi Sethi sold 21,497 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $24.30, for a total value of $522,377.10. Following the completion of the sale, the insider now owns 81,812 shares of the company’s stock, valued at approximately $1,988,031.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,897,118 shares of company stock valued at $247,319,596 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CWAN. Thornburg Investment Management Inc. grew its holdings in Clearwater Analytics by 31.7% during the 1st quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock valued at $5,860,000 after purchasing an additional 79,707 shares in the last quarter. California State Teachers Retirement System boosted its position in Clearwater Analytics by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock valued at $2,323,000 after buying an additional 23,971 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Clearwater Analytics during the first quarter valued at about $825,000. Brown Capital Management LLC increased its position in shares of Clearwater Analytics by 17.5% during the fourth quarter. Brown Capital Management LLC now owns 3,534,992 shares of the company’s stock worth $70,806,000 after acquiring an additional 527,622 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Clearwater Analytics by 28.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,359,848 shares of the company’s stock worth $77,126,000 after acquiring an additional 971,920 shares in the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

About Clearwater Analytics

(Get Free Report

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.

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