Clearwater Analytics (NYSE:CWAN) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Clearwater Analytics (NYSE:CWAN) had its price target hoisted by equities research analysts at Royal Bank of Canada from $28.00 to $32.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential downside of 10.19% from the company’s previous close.

CWAN has been the subject of a number of other reports. Citigroup initiated coverage on Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 price target for the company. Wells Fargo & Company increased their price target on shares of Clearwater Analytics from $23.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley upped their price objective on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $23.00 to $33.00 in a research note on Thursday. Finally, Oppenheimer upped their target price on Clearwater Analytics from $25.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Clearwater Analytics has an average rating of “Moderate Buy” and an average price target of $28.50.

Clearwater Analytics Stock Up 24.7 %

Shares of CWAN traded up $7.05 during trading hours on Thursday, hitting $35.63. 2,533,355 shares of the company were exchanged, compared to its average volume of 1,452,582. The firm’s 50 day moving average is $25.48 and its 200-day moving average is $21.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $35.67. The company has a market cap of $8.78 billion, a PE ratio of -1,764.00, a PEG ratio of 9.53 and a beta of 0.61.

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

Insiders Place Their Bets

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total value of $92,387.50. Following the completion of the transaction, the executive now owns 4,844 shares in the company, valued at approximately $115,045. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Clearwater Analytics news, CFO James S. Cox sold 13,700 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 232,503 shares in the company, valued at approximately $5,496,370.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total value of $92,387.50. Following the completion of the sale, the executive now directly owns 4,844 shares of the company’s stock, valued at $115,045. 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 have sold 1,864,693 shares of company stock valued at $45,128,342. 3.46% of the stock is currently owned by insiders.

Institutional Trading of Clearwater Analytics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its stake in shares of Clearwater Analytics by 268.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after purchasing an additional 1,234 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in Clearwater Analytics in the third quarter valued at about $45,000. Financial Management Professionals Inc. acquired a new position in Clearwater Analytics in the third quarter valued at about $58,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Clearwater Analytics by 124.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock worth $81,000 after buying an additional 2,425 shares during the last quarter. Finally, Amalgamated Bank acquired a new position in shares of Clearwater Analytics during the 2nd quarter worth about $90,000. 50.10% of the stock is 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.