Piper Sandler Forecasts Strong Price Appreciation for Clearwater Analytics (NYSE:CWAN) Stock

Clearwater Analytics (NYSE:CWAN) had its target price hoisted by Piper Sandler from $23.00 to $28.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also commented on the company. Morgan Stanley increased their price target on 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. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their target price for the company from $23.00 to $33.00 in a research report on Thursday. Oppenheimer lifted their price target on shares of Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Wells Fargo & Company increased their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada boosted their target price on Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Clearwater Analytics has a consensus rating of “Hold” and a consensus price target of $30.67.

Clearwater Analytics Trading Down 2.8 %

Shares of NYSE:CWAN traded down $0.90 during mid-day trading on Thursday, hitting $31.89. The company had a trading volume of 2,838,308 shares, compared to its average volume of 1,478,293. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78. Clearwater Analytics has a one year low of $15.62 and a one year high of $35.71. The firm has a fifty day moving average price of $25.64 and a 200 day moving average price of $21.85. The company has a market capitalization of $7.85 billion, a PE ratio of -1,638.50, a price-to-earnings-growth ratio of 9.53 and a beta of 0.61.

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

Insider Activity

In other Clearwater Analytics news, CFO James S. Cox sold 13,700 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at $5,496,370.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total transaction of $92,387.50. Following the completion of the sale, the executive now directly owns 4,844 shares in the company, valued at $115,045. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $323,868.00. Following the completion of the transaction, the chief financial officer now directly owns 232,503 shares in the company, valued at $5,496,370.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,864,693 shares of company stock worth $45,128,342. 3.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CWAN. Advisors Asset Management Inc. grew its position in Clearwater Analytics by 268.8% during the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after acquiring an additional 1,234 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Clearwater Analytics during the 3rd quarter valued at $45,000. Financial Management Professionals Inc. bought a new position in shares of Clearwater Analytics during the 3rd quarter valued at $58,000. Benjamin F. Edwards & Company Inc. lifted its stake in Clearwater Analytics by 124.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock worth $81,000 after purchasing an additional 2,425 shares during the last quarter. Finally, Amalgamated Bank purchased a new stake in Clearwater Analytics during the second quarter valued at about $90,000. 50.10% of the stock is currently owned by hedge funds and other 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.