Clearwater Analytics (NYSE:CWAN) PT Raised to $28.00 at Royal Bank of Canada

Clearwater Analytics (NYSE:CWAN) had its target price raised by equities research analysts at Royal Bank of Canada from $25.00 to $28.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 13.25% from the stock’s current price.

CWAN has been the subject of a number of other research reports. Piper Sandler restated a “neutral” rating and issued a $23.00 target price on shares of Clearwater Analytics in a research report on Monday, September 9th. Wells Fargo & Company lifted their price target on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Oppenheimer raised Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research note on Monday, July 8th. Finally, Citigroup assumed coverage on Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and an average target price of $23.90.

Clearwater Analytics Stock Performance

NYSE CWAN opened at $24.73 on Wednesday. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $22.47 and a 200 day simple moving average of $19.51. The company has a market cap of $6.08 billion, a P/E ratio of -309.06, a PEG ratio of 8.54 and a beta of 0.61. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $24.93.

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

Insider Transactions at Clearwater Analytics

In other news, Director Warburg Pincus Llc sold 9,000,000 shares of Clearwater Analytics stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $22.41, for a total transaction of $201,690,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Souvik Das sold 25,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $18.92, for a total value of $473,000.00. Following the completion of the transaction, the chief technology officer now directly owns 10,453 shares in the company, valued at $197,770.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Warburg Pincus Llc sold 9,000,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $22.41, for a total transaction of $201,690,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,897,118 shares of company stock worth $247,319,596. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

Institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. raised its holdings in Clearwater Analytics by 268.8% during the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after purchasing an additional 1,234 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Clearwater Analytics by 389.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after buying an additional 1,549 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of Clearwater Analytics in the 2nd quarter valued at approximately $90,000. Point72 Asset Management L.P. purchased a new position in shares of Clearwater Analytics in the 2nd quarter valued at about $91,000. Finally, RiverPark Advisors LLC raised its holdings in Clearwater Analytics by 361.0% during the first quarter. RiverPark Advisors LLC now owns 5,366 shares of the company’s stock worth $95,000 after purchasing an additional 4,202 shares during the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

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.