Piper Sandler Raises Clearwater Analytics (NYSE:CWAN) Price Target to $28.00

Clearwater Analytics (NYSE:CWAN) had its price objective upped by Piper Sandler from $23.00 to $28.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective would indicate a potential downside of 12.18% from the company’s current price.

CWAN has been the topic of several other research reports. Morgan Stanley boosted their price target on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Wells Fargo & Company boosted their target price on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Royal Bank of Canada raised their price target on shares of Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Oppenheimer lifted their target price on Clearwater Analytics from $25.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Finally, Citigroup began coverage on Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 price target for the company. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.67.

Clearwater Analytics Stock Performance

Shares of Clearwater Analytics stock opened at $31.90 on Thursday. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average price is $25.79 and its 200-day moving average price is $21.96. The firm has a market cap of $7.86 billion, a P/E ratio of -1,594.25, a P/E/G ratio of 9.53 and a beta of 0.61. Clearwater Analytics has a 12 month low of $15.62 and a 12 month high of $35.71.

Insider Buying and Selling

In other 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 transaction of $489,192.00. Following the sale, the chief financial officer now owns 224,044 shares of the company’s stock, valued at approximately $5,860,991.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO James S. Cox sold 18,700 shares of the stock in a transaction on Tuesday, October 15th. The stock was 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 in the company, valued at approximately $5,860,991.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at $5,496,370.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,864,693 shares of company stock valued at $45,128,342. Corporate insiders own 3.46% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Institutional investors have recently modified their holdings of the company. William Blair Investment Management LLC raised its stake in Clearwater Analytics by 42.5% in the first quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company’s stock valued at $183,344,000 after buying an additional 3,090,352 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in Clearwater Analytics during the second quarter worth approximately $43,280,000. Vanguard Group Inc. boosted its holdings in Clearwater Analytics by 17.2% in the first quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock valued at $267,676,000 after purchasing an additional 2,219,459 shares in the last quarter. Bamco Inc. NY increased its stake in Clearwater Analytics by 30.8% in the first quarter. Bamco Inc. NY now owns 5,359,172 shares of the company’s stock valued at $94,804,000 after purchasing an additional 1,262,150 shares during the last quarter. Finally, Stephens Investment Management Group LLC acquired a new position in shares of Clearwater Analytics in the 3rd quarter valued at $11,071,000. 50.10% of the stock is owned by hedge funds and other 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.