Clearwater Analytics (NYSE:CWAN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Clearwater Analytics (NYSE:CWAN) had its price objective raised by Wells Fargo & Company from $23.00 to $33.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

CWAN has been the topic of a number of other reports. Citigroup started coverage on Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 target price on the stock. Oppenheimer boosted their target price on Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Morgan Stanley boosted their target price 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. Royal Bank of Canada upped their price target on Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Finally, Piper Sandler upped their price target on Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.67.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock traded down $0.90 during trading on Thursday, hitting $31.89. The stock had a trading volume of 2,838,308 shares, 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. The firm has a market cap of $7.85 billion, a P/E ratio of -1,638.50, a PEG ratio of 9.53 and a beta of 0.61. The business has a fifty day moving average of $25.64 and a two-hundred day moving average of $21.85. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two 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 for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $115.83 million during the quarter, compared to analyst estimates of $113.37 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. On average, sell-side analysts expect that Clearwater Analytics will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 13,700 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $23.64, for a total value of $323,868.00. Following the transaction, the chief financial officer now owns 232,503 shares in the company, valued at $5,496,370.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total transaction of $489,192.00. Following the completion of the sale, the chief financial officer now owns 224,044 shares in the company, valued at approximately $5,860,991.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 13,700 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $23.64, for a total value of $323,868.00. Following the sale, the chief financial officer now owns 232,503 shares of the company’s stock, valued at approximately $5,496,370.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,864,693 shares of company stock worth $45,128,342 over the last 90 days. 3.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Clearwater Analytics

Several large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in Clearwater Analytics by 268.8% during the 1st 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 during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in Clearwater Analytics during the 3rd quarter valued at approximately $45,000. Financial Management Professionals Inc. bought a new stake in Clearwater Analytics during the 3rd quarter valued at approximately $58,000. Benjamin F. Edwards & Company Inc. boosted its stake in Clearwater Analytics by 124.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock valued at $81,000 after purchasing an additional 2,425 shares during the period. Finally, Amalgamated Bank bought a new stake in Clearwater Analytics during the 2nd quarter valued at approximately $90,000. 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.