Clearwater Analytics (NYSE:CWAN) Given New $37.00 Price Target at Wells Fargo & Company

Clearwater Analytics (NYSE:CWAN) had its price target hoisted by Wells Fargo & Company from $35.00 to $37.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently issued reports on the stock. Oppenheimer upped their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $28.00 to $36.00 in a report on Thursday. Morgan Stanley raised Clearwater Analytics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $30.00 to $34.00 in a research note on Friday, January 17th. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada dropped their price objective on shares of Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Clearwater Analytics currently has an average rating of “Moderate Buy” and an average price target of $33.60.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $29.79 on Thursday. 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 firm has a market capitalization of $7.36 billion, a PE ratio of 2,982.28, a price-to-earnings-growth ratio of 7.59 and a beta of 0.72. Clearwater Analytics has a twelve month low of $15.62 and a twelve month high of $35.71. The stock’s 50-day simple moving average is $27.99 and its 200 day simple moving average is $27.05.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $126.47 million for the quarter, compared to the consensus estimate of $120.34 million. Clearwater Analytics had a net margin of 0.21% and a return on equity of 5.68%. On average, analysts anticipate that Clearwater Analytics will post 0.14 EPS for the current fiscal year.

Insider Activity at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 139,172 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.94, for a total value of $4,027,637.68. Following the transaction, the chief executive officer now owns 441,724 shares in the company, valued at $12,783,492.56. The trade was a 23.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $26.94, for a total transaction of $503,778.00. Following the sale, the chief financial officer now directly owns 279,857 shares in the company, valued at $7,539,347.58. This trade represents a 6.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 299,162 shares of company stock worth $8,386,024 over the last ninety days. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of Clearwater Analytics by 57.4% during the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after buying an additional 468 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Clearwater Analytics during the 3rd quarter valued at $45,000. Arcadia Investment Management Corp MI bought a new position in Clearwater Analytics during the fourth quarter worth $57,000. Financial Management Professionals Inc. bought a new position in Clearwater Analytics during the third quarter worth $58,000. Finally, R Squared Ltd acquired a new stake in Clearwater Analytics in the fourth quarter worth $80,000. 50.10% of the stock is currently owned by institutional investors.

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.