Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives $32.40 Average Target Price from Analysts

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $32.40.

A number of analysts have recently weighed in on the company. Piper Sandler lowered their target price on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company lowered their target price on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. UBS Group raised their target price on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. The Goldman Sachs Group assumed coverage on Clearwater Analytics in a research note on Monday, May 19th. They issued a “neutral” rating and a $26.00 target price for the company. Finally, Royal Bank of Canada raised their target price on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th.

Clearwater Analytics Stock Up 1.2%

Shares of NYSE CWAN opened at $24.20 on Thursday. The stock has a market cap of $6.86 billion, a PE ratio of 14.58, a PEG ratio of 8.23 and a beta of 0.77. The business has a fifty day moving average of $23.05 and a two-hundred day moving average of $26.54. Clearwater Analytics has a 52-week low of $17.63 and a 52-week high of $35.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $126.86 million during the quarter, compared to analysts’ expectations of $125.11 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The business’s revenue was up 23.5% on a year-over-year basis. During the same period last year, the business earned $0.10 earnings per share. As a group, equities research analysts expect that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $26.56, for a total value of $1,328,000.00. Following the transaction, the chief executive officer now directly owns 857,798 shares of the company’s stock, valued at $22,783,114.88. This represents a 5.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kathleen A. Corbet sold 12,634 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total value of $298,920.44. Following the completion of the transaction, the director now directly owns 14,498 shares in the company, valued at approximately $343,022.68. This represents a 46.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,034 shares of company stock worth $4,926,245 in the last 90 days. Corporate insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in Clearwater Analytics by 10.0% in the 1st quarter. Rhumbline Advisers now owns 259,291 shares of the company’s stock valued at $6,949,000 after buying an additional 23,644 shares in the last quarter. Strs Ohio bought a new stake in shares of Clearwater Analytics during the 1st quarter worth $1,369,000. Acadian Asset Management LLC bought a new stake in shares of Clearwater Analytics during the 1st quarter worth $1,270,000. Intech Investment Management LLC lifted its position in shares of Clearwater Analytics by 53.9% during the 1st quarter. Intech Investment Management LLC now owns 107,436 shares of the company’s stock worth $2,879,000 after buying an additional 37,615 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Clearwater Analytics by 1.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 459,292 shares of the company’s stock valued at $12,309,000 after purchasing an additional 6,826 shares during the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

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.