Royal Bank of Canada Raises Clearwater Analytics (NYSE:CWAN) Price Target to $32.00

Clearwater Analytics (NYSE:CWAN) had its target price raised by Royal Bank of Canada from $28.00 to $32.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company upped their price objective on Clearwater Analytics from $23.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $23.00 to $33.00 in a research report on Thursday. Piper Sandler upped their price target on Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday. Oppenheimer upped their price target on Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Finally, Morgan Stanley upped their price target on Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One investment 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, Clearwater Analytics has an average rating of “Hold” and a consensus price target of $30.67.

Clearwater Analytics Stock Performance

Shares of NYSE:CWAN traded down $0.90 during midday trading on Thursday, reaching $31.89. 2,838,308 shares of the company’s stock traded hands, compared to its average volume of 1,478,293. The company has a market cap of $7.85 billion, a price-to-earnings ratio of -1,638.50, a P/E/G ratio of 9.53 and a beta of 0.61. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78. Clearwater Analytics has a one year low of $15.62 and a one year high of $35.71. The stock has a 50 day moving average of $25.64 and a 200 day moving average of $21.85.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $115.83 million during the quarter, compared to analysts’ expectations of $113.37 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. As a group, equities research analysts anticipate that Clearwater Analytics will post 0.14 EPS for the current fiscal year.

Insider Activity at Clearwater Analytics

In related news, CFO James S. Cox sold 13,700 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total transaction of $323,868.00. Following the completion of the transaction, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at approximately $5,496,370.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 224,044 shares of the company’s stock, valued at $5,860,991.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James S. Cox sold 13,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $23.64, for a total value of $323,868.00. Following the completion of the sale, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at $5,496,370.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,864,693 shares of company stock valued at $45,128,342. Insiders own 3.46% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Institutional investors have recently modified their holdings of the stock. Thornburg Investment Management Inc. lifted its stake in shares of Clearwater Analytics by 31.7% in the 1st quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock valued at $5,860,000 after purchasing an additional 79,707 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Clearwater Analytics by 22.3% during the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock worth $2,323,000 after acquiring an additional 23,971 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Clearwater Analytics during the 1st quarter worth approximately $825,000. Jane Street Group LLC lifted its stake in shares of Clearwater Analytics by 234.2% during the 1st quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock worth $4,702,000 after acquiring an additional 186,273 shares during the last quarter. Finally, Seven Eight Capital LP bought a new stake in shares of Clearwater Analytics during the 2nd quarter worth approximately $1,797,000. 50.10% of the stock is owned by institutional investors.

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.