Clearwater Analytics (NYSE:CWAN) Given New $33.00 Price Target at Wells Fargo & Company

Clearwater Analytics (NYSE:CWAN) had its price target raised by Wells Fargo & Company from $23.00 to $33.00 in a research note published on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on CWAN. Piper Sandler raised their price objective on Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price target for the company from $23.00 to $33.00 in a report on Thursday. Citigroup assumed coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They issued a “buy” rating and a $28.00 price target on the stock. Royal Bank of Canada upped their price objective on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Finally, Oppenheimer lifted their price target on Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Clearwater Analytics presently has a consensus rating of “Hold” and an average price target of $30.67.

Clearwater Analytics Stock Down 2.7 %

Shares of NYSE CWAN opened at $31.90 on Thursday. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $35.71. The stock’s fifty day simple moving average is $25.79 and its two-hundred day simple moving average is $22.00. The stock has a market capitalization of $7.86 billion, a PE ratio of 3,193.19, a price-to-earnings-growth ratio of 10.36 and a beta of 0.61. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11.

Insider Activity at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total transaction of $489,192.00. Following the sale, the chief financial officer now owns 224,044 shares in the company, valued at approximately $5,860,991.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Clearwater Analytics news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the sale, the chief financial officer now owns 224,044 shares of the company’s stock, valued at $5,860,991.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,864,693 shares of company stock worth $45,128,342 in the last three months. Company insiders own 3.46% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Clearwater Analytics by 17.2% during the first quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock worth $267,676,000 after acquiring an additional 2,219,459 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Clearwater Analytics by 1.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock worth $210,659,000 after purchasing an additional 128,402 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Clearwater Analytics by 0.6% during the 2nd quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock worth $193,178,000 after purchasing an additional 66,528 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in Clearwater Analytics by 1.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company’s stock valued at $171,156,000 after buying an additional 107,210 shares in the last quarter. Finally, Bamco Inc. NY boosted its holdings in Clearwater Analytics by 30.8% in the 1st quarter. Bamco Inc. NY now owns 5,359,172 shares of the company’s stock worth $94,804,000 after buying an additional 1,262,150 shares during the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

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.