Clearwater Analytics (NYSE:CWAN) Price Target Raised to $36.00 at Royal Bank of Canada

Clearwater Analytics (NYSE:CWAN) had its price objective boosted by Royal Bank of Canada from $30.00 to $36.00 in a research note published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

CWAN has been the subject of several other reports. UBS Group boosted their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $23.00 to $33.00 in a research note on Thursday, November 7th. Morgan Stanley raised shares of Clearwater Analytics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $30.00 to $34.00 in a research note on Friday, January 17th. Oppenheimer increased their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $28.00 to $36.00 in a research report on Thursday. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

Clearwater Analytics Trading Up 10.2 %

Shares of NYSE:CWAN opened at $29.79 on Thursday. The business’s 50 day moving average price is $27.99 and its 200-day moving average price is $27.05. Clearwater Analytics has a 1 year low of $15.62 and a 1 year high of $35.71. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 2,982.28, a price-to-earnings-growth ratio of 7.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data 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 analysts’ expectations of $120.34 million. Clearwater Analytics had a net margin of 0.21% and a return on equity of 5.68%. On average, equities research analysts forecast that Clearwater Analytics will post 0.14 earnings per share for the current fiscal year.

Insider Activity at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $29.07, for a total value of $113,082.30. Following the transaction, the executive now directly owns 6,373 shares in the company, valued at approximately $185,263.11. This represents a 37.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sandeep Sahai sold 139,172 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $28.94, for a total value of $4,027,637.68. Following the sale, the chief executive officer now directly owns 441,724 shares of the company’s stock, valued at approximately $12,783,492.56. This trade represents a 23.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 299,162 shares of company stock valued at $8,386,024. 4.60% of the stock is owned by company insiders.

Institutional Trading of Clearwater Analytics

Several institutional investors and hedge funds have recently bought and sold shares of CWAN. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Clearwater Analytics during the third quarter worth about $3,677,000. Loomis Sayles & Co. L P lifted its holdings in shares of Clearwater Analytics by 11.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company’s stock worth $83,186,000 after acquiring an additional 327,880 shares during the last quarter. Swiss National Bank boosted its position in shares of Clearwater Analytics by 8.5% during the 3rd quarter. Swiss National Bank now owns 312,900 shares of the company’s stock worth $7,901,000 after purchasing an additional 24,600 shares during the period. Stephens Investment Management Group LLC boosted its position in shares of Clearwater Analytics by 189.5% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock worth $34,926,000 after purchasing an additional 830,684 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in Clearwater Analytics in the 3rd quarter valued at approximately $523,000. 50.10% of the stock is currently owned by hedge funds and other 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.