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

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $33.80.

CWAN has been the subject of a number of research analyst reports. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $28.00 to $36.00 in a report on Thursday, February 20th. Morgan Stanley reiterated an “overweight” rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Royal Bank of Canada increased their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. UBS Group upped their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their target price for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th.

Clearwater Analytics Stock Down 1.9 %

Shares of NYSE CWAN opened at $26.51 on Friday. The company’s 50 day moving average price is $28.28 and its 200-day moving average price is $27.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.71. The company has a market capitalization of $6.65 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 8.23 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last released its 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). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The firm had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. Equities analysts forecast that Clearwater Analytics will post 0.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sandeep Sahai sold 218,687 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $6,575,918.09. Following the transaction, the chief executive officer now directly owns 681,588 shares of the company’s stock, valued at $20,495,351.16. This trade represents a 24.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Scott Stanley Erickson sold 4,141 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.65, for a total transaction of $114,498.65. Following the completion of the sale, the executive now directly owns 7,902 shares of the company’s stock, valued at $218,490.30. The trade was a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 644,510 shares of company stock valued at $18,688,862. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Clearwater Analytics by 57.4% during the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after acquiring an additional 468 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Clearwater Analytics by 3.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company’s stock valued at $469,000 after purchasing an additional 502 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Clearwater Analytics by 11.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company’s stock worth $142,000 after purchasing an additional 521 shares during the period. IHT Wealth Management LLC raised its stake in shares of Clearwater Analytics by 5.5% during the 3rd quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock worth $288,000 after purchasing an additional 598 shares during the period. Finally, Summit Creek Advisors LLC boosted its holdings in shares of Clearwater Analytics by 0.3% in the 4th quarter. Summit Creek Advisors LLC now owns 285,045 shares of the company’s stock worth $7,844,000 after buying an additional 833 shares during the last quarter. 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.