Clearwater Analytics (NYSE:CWAN) Given New $35.00 Price Target at Oppenheimer

Clearwater Analytics (NYSE:CWAN) had its price target hoisted by Oppenheimer from $31.00 to $35.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company upped their price target on Clearwater Analytics from $23.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday. Morgan Stanley upped their target price on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Citigroup initiated coverage on Clearwater Analytics in a report on Monday, August 19th. They issued a “buy” rating and a $28.00 price target for the company. The Goldman Sachs Group upped their price objective on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday. Finally, Royal Bank of Canada lifted their target price on shares of Clearwater Analytics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.67.

Clearwater Analytics Stock Down 2.7 %

Shares of NYSE:CWAN traded down $0.89 on Thursday, reaching $31.90. The company had a trading volume of 2,838,122 shares, compared to its average volume of 1,478,293. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $7.86 billion, a PE ratio of -1,638.50, a PEG ratio of 9.53 and a beta of 0.61. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.71. The firm’s 50 day simple moving average is $25.64 and its 200-day simple moving average is $21.85.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, November 6th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The business had revenue of $115.83 million during the quarter, compared to the consensus estimate of $113.37 million. As a group, analysts expect that Clearwater Analytics will post 0.14 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $24.18, for a total transaction of $43,144,760.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Galibier Purchaser, Llc sold 1,784,316 shares of Clearwater Analytics stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James S. Cox sold 13,700 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 owns 232,503 shares in the company, valued at approximately $5,496,370.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,864,693 shares of company stock valued at $45,128,342 in the last ninety days. Insiders own 3.46% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Clearwater Analytics in the 3rd quarter valued at about $3,677,000. Pathstone Holdings LLC grew its holdings in Clearwater Analytics by 6.1% in the third quarter. Pathstone Holdings LLC now owns 94,970 shares of the company’s stock valued at $2,398,000 after purchasing an additional 5,432 shares during the period. Lindenwold Advisors INC purchased a new stake in shares of Clearwater Analytics in the third quarter valued at approximately $239,000. Swiss National Bank raised its stake 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 buying an additional 24,600 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in shares of Clearwater Analytics by 16.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 75,148 shares of the company’s stock valued at $1,898,000 after buying an additional 10,518 shares in the last quarter. Institutional investors and hedge funds 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.