Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $25.67.

A number of equities analysts have recently commented on CWAN shares. Wells Fargo & Company lifted their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Oppenheimer lifted their price objective on Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Piper Sandler reiterated a “neutral” rating and issued a $23.00 price objective on shares of Clearwater Analytics in a research note on Monday, September 9th. Morgan Stanley boosted their price target on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price target on Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, Director Warburg Pincus Llc sold 9,000,000 shares of Clearwater Analytics stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $22.41, for a total transaction of $201,690,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Subi Sethi sold 21,497 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $24.30, for a total value of $522,377.10. Following the transaction, the insider now directly owns 81,812 shares of the company’s stock, valued at $1,988,031.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Warburg Pincus Llc sold 9,000,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $22.41, for a total value of $201,690,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,879,543 shares of company stock valued at $247,145,339. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CWAN. Wasatch Advisors LP boosted its holdings in shares of Clearwater Analytics by 35.6% in the 1st quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after acquiring an additional 4,304,286 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Clearwater Analytics by 36.6% during the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock worth $258,628,000 after buying an additional 3,461,158 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Clearwater Analytics by 42.5% during the 1st quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company’s stock worth $183,344,000 after buying an additional 3,090,352 shares in the last quarter. Hood River Capital Management LLC acquired a new position in Clearwater Analytics during the 2nd quarter worth $43,280,000. Finally, Bamco Inc. NY lifted its holdings in Clearwater Analytics by 30.8% during 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 in the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Price Performance

Shares of NYSE:CWAN opened at $26.95 on Wednesday. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $27.65. The business has a 50-day moving average of $24.93 and a two-hundred day moving average of $21.02. The stock has a market capitalization of $6.62 billion, a P/E ratio of -336.88, a P/E/G ratio of 9.16 and a beta of 0.62. 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 (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $106.79 million for the quarter, compared to analyst estimates of $105.51 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share. On average, equities research analysts predict that Clearwater Analytics will post 0.14 EPS for the current fiscal 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.