Analysts Set Clearwater Analytics Holdings, Inc. (NYSE:CWAN) PT at $22.00

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $22.00.

A number of equities analysts recently weighed in on CWAN shares. Oppenheimer upgraded shares of Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. reduced their price objective on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Wells Fargo & Company reduced their price objective on shares of Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $19.00 price objective on shares of Clearwater Analytics in a research report on Thursday, May 2nd.

Clearwater Analytics Price Performance

Shares of CWAN opened at $20.04 on Monday. The company has a market cap of $4.92 billion, a price-to-earnings ratio of -250.50, a PEG ratio of 7.65 and a beta of 0.57. Clearwater Analytics has a 1-year low of $15.62 and a 1-year high of $21.89. The company’s fifty day simple moving average is $19.07 and its 200 day simple moving average is $18.40. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.11.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $102.70 million for the quarter, compared to the consensus estimate of $100.55 million. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.25%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 earnings per share. On average, research analysts forecast that Clearwater Analytics will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Subi Sethi sold 18,599 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $19.46, for a total value of $361,936.54. Following the completion of the sale, the insider now owns 77,519 shares of the company’s stock, valued at $1,508,519.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Warburg Pincus Llc sold 7,000,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $19.71, for a total value of $137,970,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Subi Sethi sold 18,599 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $19.46, for a total value of $361,936.54. Following the completion of the transaction, the insider now directly owns 77,519 shares of the company’s stock, valued at approximately $1,508,519.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,233,244 shares of company stock valued at $142,594,162. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. raised its stake in Clearwater Analytics by 268.8% during the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after acquiring an additional 1,234 shares in the last quarter. Eagle Bay Advisors LLC raised its stake in Clearwater Analytics by 213.3% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock worth $36,000 after acquiring an additional 1,207 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Clearwater Analytics by 389.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after acquiring an additional 1,549 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Clearwater Analytics by 33.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,442 shares of the company’s stock worth $49,000 after acquiring an additional 616 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in Clearwater Analytics during the fourth quarter worth about $90,000. Institutional investors and hedge funds 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.