UBS Group Raises Clearwater Analytics (NYSE:CWAN) Price Target to $38.00

Clearwater Analytics (NYSE:CWAN) had its target price lifted by UBS Group from $36.00 to $38.00 in a research note published on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other research analysts also recently commented on CWAN. The Goldman Sachs Group increased their price target on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price objective on Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday. Oppenheimer boosted their target price on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada cut their price objective on shares of Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.60.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock opened at $29.79 on Thursday. The firm has a market cap of $7.36 billion, a PE ratio of 2,982.28, a PEG ratio of 7.59 and a beta of 0.72. The stock has a 50 day moving average of $27.99 and a 200 day moving average of $27.05. The company has a current ratio of 4.66, a quick 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 posted its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a net margin of 0.21% and a return on equity of 5.68%. The firm had revenue of $126.47 million for the quarter, compared to the consensus estimate of $120.34 million. On average, research analysts expect that Clearwater Analytics will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $27.33, for a total value of $511,071.00. Following the completion of the sale, the chief financial officer now owns 274,857 shares in the company, valued at approximately $7,511,841.81. The trade was a 6.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction on Monday, January 13th. The shares were sold at an average price of $25.89, for a total value of $1,294,500.00. Following the sale, the chief executive officer now directly owns 615,855 shares of the company’s stock, 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. Insiders have sold 299,162 shares of company stock valued at $8,386,024 in the last 90 days. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning bought a new stake in shares of Clearwater Analytics in the 3rd quarter valued at about $505,000. Raymond James & Associates increased its holdings in Clearwater Analytics by 1.5% during the third quarter. Raymond James & Associates now owns 658,579 shares of the company’s stock valued at $16,629,000 after buying an additional 9,976 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in Clearwater Analytics in the third quarter worth approximately $45,000. Moody Aldrich Partners LLC purchased a new stake in Clearwater Analytics during the third quarter worth $7,372,000. Finally, Zweig DiMenna Associates LLC bought a new stake in Clearwater Analytics during the 3rd quarter valued at $4,941,000. 50.10% of the stock is currently owned by 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.