Analysts Set Clearwater Analytics Holdings, Inc. (NYSE:CWAN) PT at $23.78

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) have been given an average recommendation of “Moderate Buy” by the nine research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $23.78.

CWAN has been the topic of several research reports. Oppenheimer upgraded shares of Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a report on Monday, July 8th. Royal Bank of Canada raised their price target 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. Citigroup assumed coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They set a “buy” rating and a $28.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Piper Sandler reiterated a “neutral” rating and set a $23.00 price objective on shares of Clearwater Analytics in a research note on Monday, September 9th.

Insiders Place Their Bets

In other Clearwater Analytics news, insider Subi Sethi sold 21,497 shares of Clearwater Analytics stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $24.30, for a total value of $522,377.10. Following the completion of the transaction, the insider now owns 81,812 shares of the company’s stock, valued at $1,988,031.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Subi Sethi sold 21,497 shares of Clearwater Analytics stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $24.30, for a total transaction of $522,377.10. Following the sale, the insider now directly owns 81,812 shares in the company, valued at $1,988,031.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $24.44, for a total transaction of $457,028.00. Following the completion of the sale, the chief financial officer now owns 227,503 shares in the company, valued at $5,560,173.32. The disclosure for this sale can be found here. Insiders sold a total of 10,897,118 shares of company stock valued at $247,319,596 over the last 90 days. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

A number of institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP increased its stake in Clearwater Analytics by 35.6% in the 1st quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after purchasing an additional 4,304,286 shares in the last quarter. Vanguard Group Inc. increased its stake in Clearwater Analytics by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock worth $267,676,000 after purchasing an additional 2,219,459 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Clearwater Analytics by 1.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock valued at $210,659,000 after acquiring an additional 128,402 shares in the last quarter. William Blair Investment Management LLC grew its stake in Clearwater Analytics by 0.6% during the 2nd quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock valued at $193,178,000 after acquiring an additional 66,528 shares in the last quarter. Finally, Conestoga Capital Advisors LLC grew its stake in Clearwater Analytics by 2.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 6,671,247 shares of the company’s stock valued at $123,551,000 after acquiring an additional 165,000 shares in the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Price Performance

Clearwater Analytics stock opened at $24.92 on Friday. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $26.02. The stock has a market capitalization of $6.12 billion, a P/E ratio of -312.25, a P/E/G ratio of 9.30 and a beta of 0.61. The firm’s 50-day moving average is $23.67 and its two-hundred day moving average is $20.11. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78.

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

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.