Royal Bank of Canada Increases Clearwater Analytics (NYSE:CWAN) Price Target to $36.00

Clearwater Analytics (NYSE:CWAN) had its price target lifted by equities research analysts at Royal Bank of Canada from $30.00 to $36.00 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 20.00% from the company’s current price.

A number of other brokerages also recently commented on CWAN. Wells Fargo & Company lifted their price objective on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $28.00 to $36.00 in a report on Thursday. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $23.00 to $33.00 in a report on Thursday, November 7th. Morgan Stanley raised shares of Clearwater Analytics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $30.00 to $34.00 in a report on Friday, January 17th. Finally, Oppenheimer lifted their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.60.

Clearwater Analytics Stock Up 10.9 %

CWAN traded up $2.96 during trading on Thursday, reaching $30.00. The company had a trading volume of 4,233,781 shares, compared to its average volume of 2,050,691. The company has a market cap of $7.41 billion, a P/E ratio of 3,004.50, a PEG ratio of 7.59 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 debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The business’s fifty day moving average price is $28.00 and its 200 day moving average price is $27.04.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data 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 return on equity of 5.68% and a net margin of 0.21%. The business had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. Equities analysts anticipate that Clearwater Analytics will post 0.14 EPS for the current year.

Insider Buying and Selling at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 139,172 shares of the firm’s stock in a transaction dated 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 owns 441,724 shares in the company, valued at approximately $12,783,492.56. This trade represents a 23.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $29.07, for a total transaction of $113,082.30. Following the sale, the executive now owns 6,373 shares of the company’s stock, valued at approximately $185,263.11. The trade was a 37.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 299,162 shares of company stock valued at $8,386,024. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in shares of Clearwater Analytics by 98.2% in the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock worth $163,867,000 after acquiring an additional 2,950,555 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock worth $202,931,000 after acquiring an additional 2,931,445 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Clearwater Analytics by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock worth $574,607,000 after acquiring an additional 2,455,844 shares during the last quarter. Norges Bank bought a new stake in shares of Clearwater Analytics in the 4th quarter worth approximately $59,402,000. Finally, Champlain Investment Partners LLC bought a new stake in shares of Clearwater Analytics in the 3rd quarter worth approximately $53,559,000. 50.10% of the stock is currently owned by 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.