Royal Bank of Canada Cuts Clearwater Analytics (NYSE:CWAN) Price Target to $30.00

Clearwater Analytics (NYSE:CWAN) had its target price lowered by Royal Bank of Canada from $36.00 to $30.00 in a report released on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other brokerages have also commented on CWAN. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $23.00 to $33.00 in a research report on Thursday, November 7th. DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and lowered their target price for the company from $35.00 to $32.00 in a research note on Tuesday. Piper Sandler upped their price objective on shares of Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Finally, 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and an average target price of $30.89.

Clearwater Analytics Stock Performance

CWAN stock opened at $26.48 on Tuesday. The business has a 50 day moving average of $29.35 and a 200-day moving average of $25.56. The firm has a market cap of $6.54 billion, a PE ratio of 2,650.65, a P/E/G ratio of 10.56 and a beta of 0.72. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $35.71. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

Insider Buying and Selling at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $31.34, for a total value of $121,912.60. Following the transaction, the executive now directly owns 6,373 shares in the company, valued at approximately $199,729.82. This represents a 37.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sandeep Sahai sold 139,172 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the completion of the sale, the chief executive officer now directly owns 441,724 shares in the company, valued at $12,783,492.56. This represents a 23.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,352 shares of company stock valued at $5,384,446 in the last three months. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CWAN. GAMMA Investing LLC raised its position in Clearwater Analytics by 57.4% during the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after purchasing an additional 468 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Clearwater Analytics during the 3rd quarter valued at about $45,000. Financial Management Professionals Inc. purchased a new position in shares of Clearwater Analytics during the 3rd quarter valued at about $58,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of 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 buying an additional 2,425 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in Clearwater Analytics in the 2nd quarter worth approximately $90,000. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

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.