Clearwater Analytics (NYSE:CWAN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Clearwater Analytics (NYSE:CWAN) had its target price boosted by equities research analysts at Wells Fargo & Company from $35.00 to $37.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 23.68% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $28.00 to $36.00 in a research report on Thursday. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their target price for the company from $23.00 to $33.00 in a report on Thursday, November 7th. Morgan Stanley raised shares of Clearwater Analytics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock 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 dropped their price objective for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group lifted their target price on shares of Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.44.

Clearwater Analytics Trading Up 10.6 %

NYSE:CWAN opened at $29.92 on Thursday. The stock has a market cap of $7.39 billion, a P/E ratio of 3,024.12, a P/E/G ratio of 7.59 and a beta of 0.72. Clearwater Analytics has a 1 year low of $15.62 and a 1 year high of $35.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. The stock has a 50-day simple moving average of $28.00 and a 200-day simple moving average of $27.04.

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

Insider Transactions at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $27.33, for a total value of $511,071.00. Following the completion of the transaction, the chief financial officer now directly owns 274,857 shares in the company, valued at $7,511,841.81. This trade represents a 6.37 % 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, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s 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 transaction, the executive now owns 6,373 shares of the company’s stock, valued at approximately $185,263.11. This trade represents a 37.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 299,162 shares of company stock worth $8,386,024. 4.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP grew its position in shares of Clearwater Analytics by 98.2% in the fourth quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock valued at $163,867,000 after purchasing an additional 2,950,555 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after purchasing an additional 2,931,445 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Clearwater Analytics by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock valued at $574,607,000 after acquiring an additional 2,455,844 shares during the last quarter. Norges Bank acquired a new position in Clearwater Analytics in the fourth quarter worth $59,402,000. Finally, Champlain Investment Partners LLC acquired a new position in Clearwater Analytics during the 3rd quarter worth about $53,559,000. Institutional investors own 50.10% of the company’s stock.

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.