Clearwater Analytics (NYSE:CWAN) Price Target Raised to $30.00

Clearwater Analytics (NYSE:CWAN) had its target price increased by Morgan Stanley from $20.00 to $30.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the company. Citigroup assumed coverage on Clearwater Analytics in a research note on Monday, August 19th. They issued a “buy” rating and a $28.00 price objective on the stock. Piper Sandler reiterated a “neutral” rating and issued a $23.00 target price on shares of Clearwater Analytics in a research note on Monday, September 9th. Oppenheimer lifted their price objective on shares of Clearwater Analytics from $25.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Royal Bank of Canada boosted their target price on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Company lifted their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.67.

Clearwater Analytics Stock Up 0.9 %

CWAN opened at $27.40 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78. The firm has a market capitalization of $6.73 billion, a P/E ratio of -342.50, a PEG ratio of 9.16 and a beta of 0.62. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $27.41. The company’s 50-day moving average is $24.76 and its 200 day moving average is $20.86.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $106.79 million during the quarter, compared to analyst estimates of $105.51 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) EPS. Research analysts expect that Clearwater Analytics will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Clearwater Analytics

In other news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the firm’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 can be accessed through the SEC website. In related news, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total value of $489,192.00. Following the sale, the chief financial officer now directly owns 224,044 shares of the company’s stock, valued at $5,860,991.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Galibier Purchaser, Llc sold 1,784,316 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 10,879,543 shares of company stock worth $247,145,339 over the last three months. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Thornburg Investment Management Inc. grew its holdings in Clearwater Analytics by 31.7% in the first quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock worth $5,860,000 after purchasing an additional 79,707 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Clearwater Analytics by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock worth $2,323,000 after buying an additional 23,971 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Clearwater Analytics in the 1st quarter valued at $825,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Clearwater Analytics by 28.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,359,848 shares of the company’s stock worth $77,126,000 after buying an additional 971,920 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Clearwater Analytics by 234.2% during the 1st quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock valued at $4,702,000 after acquiring an additional 186,273 shares in the last quarter. 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.