Royal Bank of Canada Issues Positive Forecast for Clearwater Analytics (NYSE:CWAN) Stock Price

Clearwater Analytics (NYSE:CWAN) had its price target lifted by Royal Bank of Canada from $28.00 to $32.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently commented on the company. Citigroup began coverage on Clearwater Analytics in a research note on Monday, August 19th. They issued a “buy” rating and a $28.00 price target on the stock. Oppenheimer lifted their price target on Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $23.00 to $33.00 in a research note on Thursday. Piper Sandler boosted their target price on Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Morgan Stanley boosted their target price on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Clearwater Analytics has a consensus rating of “Hold” and a consensus target price of $30.67.

Clearwater Analytics Price Performance

NYSE:CWAN traded down $0.90 during midday trading on Thursday, hitting $31.89. The company had a trading volume of 2,838,308 shares, compared to its average volume of 1,478,293. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11. The company has a market capitalization 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 stock’s fifty day moving average price is $25.64 and its 200-day moving average price is $21.85. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.71.

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

Insider Buying and Selling

In related news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $24.18, for a total value of $43,144,760.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Clearwater Analytics news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $24.18, for a total value of $43,144,760.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $323,868.00. Following the completion of the sale, the chief financial officer now directly owns 232,503 shares in the company, 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 a total of 1,864,693 shares of company stock valued at $45,128,342 over the last ninety days. Company insiders own 3.46% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds have recently added to or reduced their stakes in the stock. Chartwell Investment Partners LLC boosted its holdings in Clearwater Analytics by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company’s stock worth $1,233,000 after acquiring an additional 395 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of Clearwater Analytics by 1.6% during the second quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock valued at $786,000 after purchasing an additional 680 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Clearwater Analytics by 2.1% during the second quarter. Arizona State Retirement System now owns 40,894 shares of the company’s stock valued at $757,000 after purchasing an additional 828 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Clearwater Analytics by 268.8% during the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after purchasing an additional 1,234 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Clearwater Analytics during the third quarter valued at $45,000. 50.10% of the stock is owned by 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.