Brokerages Set Clearwater Analytics Holdings, Inc. (NYSE:CWAN) PT at $33.80

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $33.80.

A number of analysts have issued reports on CWAN shares. Wells Fargo & Company raised their price target on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. The Goldman Sachs Group lifted their price objective on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Piper Sandler raised 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. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $23.00 to $33.00 in a research note on Thursday, November 7th.

Insider Buying and Selling

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 76,256 shares of Clearwater Analytics stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $2,293,017.92. Following the sale, the executive now directly owns 78,363 shares in the company, valued at $2,356,375.41. The trade was a 49.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $25.89, for a total value of $1,294,500.00. Following the sale, the chief executive officer now owns 615,855 shares in the company, valued at $15,944,485.95. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 733,431 shares of company stock valued at $21,444,493. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Clearwater Analytics by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock worth $574,607,000 after purchasing an additional 2,455,844 shares during the last quarter. Wasatch Advisors LP boosted its position in Clearwater Analytics by 3.2% during the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock valued at $457,909,000 after purchasing an additional 559,564 shares during the period. Alliancebernstein L.P. boosted its position in Clearwater Analytics by 66.0% during the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after purchasing an additional 2,931,445 shares during the period. Conestoga Capital Advisors LLC boosted its position in Clearwater Analytics by 1.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company’s stock worth $171,156,000 after acquiring an additional 107,210 shares during the period. Finally, Wellington Management Group LLP boosted its position in Clearwater Analytics by 98.2% during the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock worth $163,867,000 after acquiring an additional 2,950,555 shares during the period. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Analytics Stock Down 2.5 %

Shares of NYSE:CWAN opened at $30.33 on Tuesday. The stock’s 50-day moving average price is $28.20 and its two-hundred day moving average price is $27.45. 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 12-month low of $15.62 and a 12-month high of $35.71. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 8.23 and a beta of 0.72.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly 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). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The business had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. On average, research analysts forecast that Clearwater Analytics will post 0.18 EPS for the current year.

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.