Clearwater Analytics (NYSE:CWAN) Stock Price Expected to Rise, Oppenheimer Analyst Says

Clearwater Analytics (NYSE:CWAN) had its target price hoisted by research analysts at Oppenheimer from $31.00 to $35.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective points to a potential upside of 9.77% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Citigroup initiated coverage on Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday. Royal Bank of Canada upped their price target on shares of Clearwater Analytics from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley lifted their price objective on shares of Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company upped their target price on Clearwater Analytics from $23.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday. One 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 stock. Based on data from MarketBeat.com, Clearwater Analytics has an average rating of “Hold” and an average target price of $30.67.

Clearwater Analytics Trading Down 2.8 %

Shares of NYSE:CWAN opened at $31.89 on Thursday. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $7.85 billion, a PE ratio of -1,594.25, a P/E/G ratio of 9.53 and a beta of 0.61. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $35.71. The business’s fifty day simple moving average is $25.79 and its 200-day simple moving average is $21.96.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, November 6th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $115.83 million during the quarter, compared to the consensus estimate of $113.37 million. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. As a group, equities research analysts predict that Clearwater Analytics will post 0.14 earnings per share for the current fiscal year.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 13,700 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total value of $323,868.00. Following the sale, the chief financial officer now owns 232,503 shares in the company, valued at approximately $5,496,370.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $24.44, for a total transaction of $457,028.00. Following the transaction, the chief financial officer now owns 227,503 shares in the company, valued at approximately $5,560,173.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 13,700 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $23.64, for a total value of $323,868.00. Following the completion of the sale, the chief financial officer now owns 232,503 shares of the company’s stock, valued at $5,496,370.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,864,693 shares of company stock worth $45,128,342. 3.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clearwater Analytics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CWAN. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 2,219,459 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Clearwater Analytics by 1.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock worth $210,659,000 after buying an additional 128,402 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Clearwater Analytics by 0.6% during the second quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock valued at $193,178,000 after acquiring an additional 66,528 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Clearwater Analytics by 1.6% in the third quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company’s stock worth $171,156,000 after acquiring an additional 107,210 shares during the last quarter. Finally, Bamco Inc. NY increased its position in shares of Clearwater Analytics by 30.8% during the first quarter. Bamco Inc. NY now owns 5,359,172 shares of the company’s stock worth $94,804,000 after purchasing an additional 1,262,150 shares in 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.