Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives Average Rating of “Moderate Buy” from Analysts

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has earned an average rating of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $33.80.

Several equities research analysts have issued reports on CWAN shares. UBS Group lifted their price target on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and lowered their price target for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. Morgan Stanley reissued an “overweight” rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $23.00 to $33.00 in a research report on Thursday, November 7th. Finally, Oppenheimer lifted their price objective 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.

Insider Buying and Selling

In related news, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $29.07, for a total transaction of $113,082.30. Following the completion of the sale, the executive now owns 6,373 shares of the company’s stock, valued at approximately $185,263.11. The trade was a 37.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sandeep Sahai sold 139,172 shares of Clearwater Analytics stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the completion of the sale, the chief executive officer now owns 441,724 shares of the company’s stock, valued at $12,783,492.56. This trade represents a 23.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 733,431 shares of company stock valued at $21,444,493. Company insiders own 4.60% of the company’s stock.

Institutional Trading of Clearwater Analytics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Clearwater Analytics by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock worth $574,607,000 after purchasing an additional 2,455,844 shares in the last quarter. Wasatch Advisors LP raised its stake in Clearwater Analytics by 3.2% in the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock worth $457,909,000 after purchasing an additional 559,564 shares in the last quarter. Alliancebernstein L.P. raised its stake in Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock worth $202,931,000 after purchasing an additional 2,931,445 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in Clearwater Analytics by 1.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company’s stock worth $171,156,000 after purchasing an additional 107,210 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Clearwater Analytics by 98.2% in the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock worth $163,867,000 after purchasing an additional 2,950,555 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Trading Up 4.4 %

Shares of NYSE:CWAN opened at $31.13 on Tuesday. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics has a 12 month low of $15.62 and a 12 month high of $35.71. The company’s fifty day simple moving average is $28.20 and its 200 day simple moving average is $27.39. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 8.23 and a beta of 0.72.

Clearwater Analytics (NYSE:CWAN) last issued 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). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The business had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. As a group, research analysts forecast that Clearwater Analytics will post 0.18 EPS for the current fiscal year.

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.