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

Clearwater Analytics (NYSE:CWAN) had its price objective hoisted by Royal Bank of Canada from $32.00 to $36.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also recently commented on CWAN. Wells Fargo & Company upped their price target on Clearwater Analytics from $23.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price target on Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Piper Sandler upped their price target on Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. DA Davidson cut Clearwater Analytics from a “buy” rating to a “neutral” rating and upped their price target for the stock from $31.00 to $35.00 in a research note on Friday, November 8th. Finally, Citigroup initiated coverage on Clearwater Analytics in a research report on Monday, August 19th. They issued a “buy” rating and a $28.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.11.

Clearwater Analytics Price Performance

Clearwater Analytics stock opened at $32.38 on Friday. Clearwater Analytics has a 12 month low of $15.62 and a 12 month high of $35.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The business has a 50 day simple moving average of $27.15 and a 200-day simple moving average of $23.01. The stock has a market capitalization of $8.00 billion, a PE ratio of 3,243.24, a price-to-earnings-growth ratio of 11.41 and a beta of 0.61.

Insider Activity

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total value of $92,387.50. Following the sale, the executive now directly owns 4,844 shares of the company’s stock, valued at approximately $115,045. This trade represents a 44.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the transaction, the chief financial officer now directly owns 224,044 shares in the company, valued at $5,860,991.04. This represents a 7.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,770 shares of company stock worth $1,826,606 over the last 90 days. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP boosted its position in Clearwater Analytics by 3.2% during the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock worth $457,909,000 after acquiring an additional 559,564 shares during the period. Vanguard Group Inc. raised its position 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 during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Clearwater Analytics by 1.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock worth $210,659,000 after purchasing an additional 128,402 shares during the period. William Blair Investment Management LLC raised its position 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 worth $193,178,000 after purchasing an additional 66,528 shares during the period. Finally, Conestoga Capital Advisors LLC raised its position in shares of Clearwater Analytics by 1.6% during the third quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company’s stock worth $171,156,000 after purchasing an additional 107,210 shares during the period. Institutional investors and hedge funds own 50.10% of the company’s stock.

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.