UBS Group Issues Positive Forecast for Clearwater Analytics (NYSE:CWAN) Stock Price

Clearwater Analytics (NYSE:CWAN) had its price target upped by research analysts at UBS Group from $36.00 to $38.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target points to a potential upside of 26.67% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada decreased their target price on shares of Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. Oppenheimer upped their price objective on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $28.00 to $36.00 in a research report on Thursday. Finally, JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $23.00 to $33.00 in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Clearwater Analytics Stock Up 10.9 %

Shares of NYSE:CWAN traded up $2.96 during midday trading on Thursday, hitting $30.00. 2,001,913 shares of the company’s stock were exchanged, compared to its average volume of 1,984,871. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The stock has a 50 day moving average price of $28.00 and a 200-day moving average price of $27.04. The company has a market cap of $7.41 billion, a PE ratio of 3,025.73, a price-to-earnings-growth ratio of 7.59 and a beta of 0.72. Clearwater Analytics has a 12 month low of $15.62 and a 12 month high of $35.71.

Clearwater Analytics (NYSE:CWAN) last posted its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The business had revenue of $126.47 million for the quarter, compared to the consensus estimate of $120.34 million. Clearwater Analytics had a return on equity of 5.68% and a net margin of 0.21%. On average, sell-side analysts anticipate that Clearwater Analytics will post 0.14 EPS for the current fiscal year.

Insider Activity

In related news, CEO Sandeep Sahai sold 139,172 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the sale, the chief executive officer now directly owns 441,724 shares in the company, valued at approximately $12,783,492.56. This represents a 23.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $29.65, for a total transaction of $554,455.00. Following the sale, the chief financial officer now owns 214,044 shares in the company, valued at $6,346,404.60. The trade was a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 299,162 shares of company stock valued at $8,386,024 in the last three months. Company insiders own 4.60% of the company’s stock.

Institutional Trading of Clearwater Analytics

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Clearwater Analytics by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock valued at $574,607,000 after buying an additional 2,455,844 shares in the last quarter. Wasatch Advisors LP lifted 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. lifted 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 lifted 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 lifted 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. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

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.