Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) have been given a consensus rating of “Moderate Buy” by the ten analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $21.70.

A number of research analysts have commented on CWAN shares. JPMorgan Chase & Co. reduced their price objective on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Piper Sandler restated a “neutral” rating and set a $20.00 price objective on shares of Clearwater Analytics in a research note on Thursday, February 29th. Morgan Stanley restated an “equal weight” rating and set a $19.00 price objective on shares of Clearwater Analytics in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company reduced their price objective on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd.

Insider Activity at Clearwater Analytics

In other news, CFO James S. Cox sold 6,275 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $20.10, for a total transaction of $126,127.50. Following the completion of the transaction, the chief financial officer now directly owns 235,962 shares of the company’s stock, valued at $4,742,836.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO James S. Cox sold 6,275 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $20.10, for a total transaction of $126,127.50. Following the completion of the transaction, the chief financial officer now directly owns 235,962 shares in the company, valued at $4,742,836.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Souvik Das sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $19.96, for a total value of $998,000.00. Following the transaction, the chief technology officer now owns 33,142 shares of the company’s stock, valued at $661,514.32. The disclosure for this sale can be found here. Insiders sold a total of 7,193,079 shares of company stock valued at $141,831,984 over the last three months. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CWAN. Swiss National Bank increased its holdings in shares of Clearwater Analytics by 1.0% in the third quarter. Swiss National Bank now owns 173,000 shares of the company’s stock valued at $3,346,000 after buying an additional 1,700 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Clearwater Analytics by 15.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 478,395 shares of the company’s stock valued at $9,252,000 after buying an additional 62,644 shares in the last quarter. Citigroup Inc. raised its holdings in Clearwater Analytics by 55.5% during the third quarter. Citigroup Inc. now owns 32,298 shares of the company’s stock valued at $625,000 after buying an additional 11,529 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Clearwater Analytics by 89.7% in the third quarter. Envestnet Asset Management Inc. now owns 197,011 shares of the company’s stock valued at $3,810,000 after purchasing an additional 93,163 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Clearwater Analytics by 2.4% in the third quarter. Invesco Ltd. now owns 1,735,327 shares of the company’s stock valued at $33,561,000 after purchasing an additional 40,665 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Price Performance

CWAN stock opened at $19.01 on Thursday. Clearwater Analytics has a 52-week low of $15.28 and a 52-week high of $21.89. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of -237.63, a price-to-earnings-growth ratio of 7.44 and a beta of 0.58. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $18.15 and its 200-day simple moving average is $18.51.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The firm had revenue of $102.70 million for the quarter, compared to analysts’ expectations of $100.55 million. During the same quarter last year, the firm earned $0.07 earnings per share. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. Equities research analysts expect that Clearwater Analytics will post 0.13 EPS for the current year.

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.