Clearwater Analytics (NYSE:CWAN) Price Target Raised to $33.00 at Wells Fargo & Company

Clearwater Analytics (NYSE:CWAN) had its target price hoisted by Wells Fargo & Company from $23.00 to $33.00 in a research report report published on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

CWAN has been the subject of several other reports. Oppenheimer lifted their target price on Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Piper Sandler lifted their target price on Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday. Royal Bank of Canada lifted their target price on Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $23.00 to $33.00 in a research report on Thursday. Finally, Citigroup assumed coverage on Clearwater Analytics in a report on Monday, August 19th. They issued a “buy” rating and a $28.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.67.

Clearwater Analytics Price Performance

Shares of CWAN stock traded down $0.90 on Thursday, reaching $31.89. The company’s stock had a trading volume of 2,838,308 shares, compared to its average volume of 1,478,293. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of -1,638.50, a price-to-earnings-growth ratio of 9.53 and a beta of 0.61. The stock’s fifty day simple moving average is $25.64 and its 200-day simple moving average is $21.85. Clearwater Analytics has a 1 year low of $15.62 and a 1 year high of $35.71. 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) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $115.83 million during the quarter, compared to the consensus estimate of $113.37 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. 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, insider Subi Sethi sold 21,497 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $24.30, for a total transaction of $522,377.10. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO James S. Cox sold 18,700 shares of the business’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 directly owns 224,044 shares of the company’s stock, valued at $5,860,991.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Subi Sethi sold 21,497 shares of Clearwater Analytics stock in a transaction on 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 directly owns 81,812 shares of the company’s stock, valued at approximately $1,988,031.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,864,693 shares of company stock valued at $45,128,342 in the last quarter. Corporate insiders own 3.46% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its position in shares of Clearwater Analytics by 268.8% in the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after buying an additional 1,234 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in Clearwater Analytics during the 3rd quarter worth approximately $45,000. Financial Management Professionals Inc. purchased a new stake in Clearwater Analytics during the 3rd quarter worth approximately $58,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Clearwater Analytics by 124.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock valued at $81,000 after acquiring an additional 2,425 shares during the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Clearwater Analytics in the 2nd quarter valued at approximately $90,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

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.