Clearwater Analytics (NYSE:CWAN) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Clearwater Analytics (NYSE:CWAN) had its price target increased by equities researchers at Royal Bank of Canada from $32.00 to $36.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 14.25% from the company’s previous close.

Several other research analysts have also commented on CWAN. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $23.00 to $33.00 in a research report on Thursday, November 7th. Citigroup initiated coverage on Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 price target for the company. Morgan Stanley raised 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. DA Davidson cut Clearwater Analytics from a “buy” rating to a “neutral” rating and increased their price objective for the company from $31.00 to $35.00 in a research note on Friday, November 8th. Finally, Oppenheimer increased their price objective on Clearwater Analytics from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Clearwater Analytics currently has a consensus rating of “Hold” and an average target price of $31.11.

Clearwater Analytics Price Performance

NYSE CWAN traded down $0.24 during trading hours on Friday, reaching $31.51. The company’s stock had a trading volume of 202,762 shares, compared to its average volume of 1,593,312. The company’s 50-day moving average is $26.82 and its two-hundred day moving average is $22.78. Clearwater Analytics has a 1-year low of $15.62 and a 1-year high of $35.71. The firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 3,154.15, a P/E/G ratio of 11.01 and a beta of 0.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66.

Insider Transactions at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $31.34, for a total transaction of $121,912.60. Following the transaction, the executive now owns 6,373 shares of the company’s stock, valued at $199,729.82. This trade represents a 37.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $30.34, for a total value of $567,358.00. Following the transaction, the chief financial officer now directly owns 219,044 shares in the company, valued at approximately $6,645,794.96. This represents a 7.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,852,086 shares of company stock worth $44,971,367. Corporate insiders own 3.25% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its position in shares of Clearwater Analytics by 22.3% during the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock worth $2,323,000 after purchasing an additional 23,971 shares during the last quarter. Jane Street Group LLC boosted its position in Clearwater Analytics by 234.2% in the 1st quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock valued at $4,702,000 after buying an additional 186,273 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Clearwater Analytics in the 2nd quarter valued at about $1,797,000. Aigen Investment Management LP acquired a new stake in shares of Clearwater Analytics in the 3rd quarter valued at about $523,000. Finally, Silvercrest Asset Management Group LLC raised its stake in Clearwater Analytics by 25.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 994,017 shares of the company’s stock worth $17,584,000 after acquiring an additional 201,217 shares during the period. Hedge funds and other 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.