Clearwater Analytics (NYSE:CWAN) Given New $37.00 Price Target at Wells Fargo & Company

Clearwater Analytics (NYSE:CWAN) had its target price hoisted by Wells Fargo & Company from $35.00 to $37.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also commented on CWAN. JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $23.00 to $33.00 in a report on Thursday, November 7th. Royal Bank of Canada reduced their price objective on shares of Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. Oppenheimer increased their price objective on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $28.00 to $36.00 in a research note on Thursday. Finally, DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their target price for the company from $35.00 to $32.00 in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

Clearwater Analytics Price Performance

Shares of CWAN opened at $29.79 on Thursday. The stock has a market cap of $7.36 billion, a P/E ratio of 2,982.28, a P/E/G ratio of 7.59 and a beta of 0.72. The business’s fifty day moving average is $27.99 and its 200 day moving average is $27.05. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $35.71.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. Clearwater Analytics had a net margin of 0.21% and a return on equity of 5.68%. Sell-side analysts anticipate that Clearwater Analytics will post 0.14 earnings per share for the current fiscal year.

Insider Activity at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $29.07, for a total value of $113,082.30. Following the sale, the executive now directly owns 6,373 shares in the company, valued at approximately $185,263.11. The trade was a 37.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $25.89, for a total transaction of $1,294,500.00. Following the sale, the chief executive officer now directly owns 615,855 shares in the company, valued at approximately $15,944,485.95. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 299,162 shares of company stock worth $8,386,024. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Clearwater Analytics in the third quarter worth $3,677,000. Loomis Sayles & Co. L P lifted its holdings in Clearwater Analytics by 11.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company’s stock worth $83,186,000 after purchasing an additional 327,880 shares in the last quarter. Swiss National Bank boosted its stake in Clearwater Analytics by 8.5% in the 3rd quarter. Swiss National Bank now owns 312,900 shares of the company’s stock worth $7,901,000 after purchasing an additional 24,600 shares during the period. Stephens Investment Management Group LLC grew its holdings in Clearwater Analytics by 189.5% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock valued at $34,926,000 after buying an additional 830,684 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in Clearwater Analytics during the 3rd quarter valued at about $523,000. 50.10% of the stock is currently 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.