Royal Bank of Canada Has Lowered Expectations for Clearwater Analytics (NYSE:CWAN) Stock Price

Clearwater Analytics (NYSE:CWAN) had its target price cut by equities researchers at Royal Bank of Canada from $36.00 to $30.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 11.57% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler increased their price objective on shares of Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $23.00 to $33.00 in a research report on Thursday, November 7th. Wells Fargo & Company raised their price target on Clearwater Analytics from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $35.00 to $32.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Clearwater Analytics currently has an average rating of “Moderate Buy” and a consensus target price of $30.89.

Clearwater Analytics Stock Up 1.7 %

Shares of Clearwater Analytics stock opened at $26.89 on Tuesday. The company’s 50 day moving average is $29.31 and its 200 day moving average is $25.56. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 2,691.69, a price-to-earnings-growth ratio of 10.56 and a beta of 0.72. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics has a twelve month low of $15.62 and a twelve month high of $35.71.

Insider Buying and Selling

In other news, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $31.34, for a total value of $121,912.60. Following the transaction, the executive now directly owns 6,373 shares in the company, valued at approximately $199,729.82. This represents a 37.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sandeep Sahai sold 139,172 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the completion of the transaction, the chief executive officer now directly owns 441,724 shares in the company, valued at $12,783,492.56. This represents a 23.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 234,352 shares of company stock valued at $6,678,946 in the last ninety days. 4.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

A number of hedge funds have recently added to or reduced their stakes in CWAN. Chartwell Investment Partners LLC raised its stake in shares of Clearwater Analytics by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company’s stock valued at $1,233,000 after acquiring an additional 395 shares in the last quarter. GAMMA Investing LLC increased its holdings in Clearwater Analytics by 57.4% during the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after purchasing an additional 468 shares during the period. IHT Wealth Management LLC raised its position in Clearwater Analytics by 5.5% during the 3rd quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock valued at $288,000 after purchasing an additional 598 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of Clearwater Analytics by 1.6% in the 2nd quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock worth $786,000 after buying an additional 680 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of Clearwater Analytics by 38.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock worth $90,000 after buying an additional 995 shares in the last quarter. 50.10% of the stock is currently 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.