Piper Sandler Issues Positive Forecast for Clearwater Analytics (NYSE:CWAN) Stock Price

Clearwater Analytics (NYSE:CWAN) had its price target boosted by Piper Sandler from $23.00 to $28.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also issued reports about the stock. Royal Bank of Canada boosted their price objective on shares of Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Morgan Stanley boosted their price target on Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Oppenheimer boosted their target price on Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price target for the company from $23.00 to $33.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Clearwater Analytics currently has a consensus rating of “Hold” and an average price target of $30.67.

Clearwater Analytics Stock Down 2.8 %

Shares of CWAN traded down $0.90 during mid-day trading on Thursday, hitting $31.89. 2,838,308 shares of the company’s stock were exchanged, compared to its average volume of 1,478,293. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $35.71. The company has a market cap of $7.85 billion, a PE ratio of -1,638.50, a P/E/G ratio of 9.53 and a beta of 0.61. The company has a 50-day simple moving average of $25.64 and a 200 day simple moving average of $21.85.

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

Insider Activity at Clearwater Analytics

In other news, CFO James S. Cox sold 13,700 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total transaction of $323,868.00. Following the completion of the transaction, the chief financial officer now owns 232,503 shares of the company’s stock, valued at approximately $5,496,370.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total transaction of $489,192.00. Following the sale, the chief financial officer now owns 224,044 shares of the company’s stock, valued at approximately $5,860,991.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James S. Cox sold 13,700 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total transaction of $323,868.00. Following the transaction, the chief financial officer now owns 232,503 shares of the company’s stock, valued at $5,496,370.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,864,693 shares of company stock valued at $45,128,342 over the last three months. 3.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC grew its position in shares of Clearwater Analytics by 42.5% in the 1st quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company’s stock valued at $183,344,000 after buying an additional 3,090,352 shares during the last quarter. Hood River Capital Management LLC acquired a new position in shares of Clearwater Analytics in the second quarter worth approximately $43,280,000. Vanguard Group Inc. boosted its holdings in Clearwater Analytics by 17.2% in the first quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock valued at $267,676,000 after acquiring an additional 2,219,459 shares during the last quarter. Bamco Inc. NY increased its position in Clearwater Analytics by 30.8% during the 1st quarter. Bamco Inc. NY now owns 5,359,172 shares of the company’s stock valued at $94,804,000 after purchasing an additional 1,262,150 shares during the period. Finally, Stephens Investment Management Group LLC bought a new position in Clearwater Analytics during the 3rd quarter worth approximately $11,071,000. Institutional investors own 50.10% of the company’s stock.

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.