Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives $31.89 Average PT from Brokerages

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) have received a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $31.89.

A number of research analysts have weighed in on CWAN shares. Royal Bank of Canada lifted their target price on Clearwater Analytics from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. The Goldman Sachs Group boosted their price objective on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their target price on shares of Clearwater Analytics from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. DA Davidson downgraded shares of Clearwater Analytics from a “buy” rating to a “neutral” rating and raised their price target for the company from $31.00 to $35.00 in a report on Friday, November 8th. Finally, Piper Sandler upped their price target on shares of Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th.

Clearwater Analytics Price Performance

Shares of NYSE CWAN opened at $27.31 on Monday. The stock has a fifty day moving average of $29.32 and a 200-day moving average of $25.27. The stock has a market cap of $6.75 billion, a PE ratio of 2,733.73, a price-to-earnings-growth ratio of 10.57 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $35.71.

Insider Transactions at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the sale, the chief financial officer now owns 224,044 shares in the company, valued at $5,860,991.04. The trade was a 7.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $29.07, for a total value of $113,082.30. Following the completion of the sale, the executive now directly owns 6,373 shares of the company’s stock, valued at approximately $185,263.11. This represents a 37.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 203,052 shares of company stock valued at $5,873,638 in the last quarter. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

A number of large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new position in Clearwater Analytics in the 2nd quarter worth approximately $350,000. Natixis Advisors LLC grew its holdings in shares of Clearwater Analytics by 4.2% in the second quarter. Natixis Advisors LLC now owns 44,754 shares of the company’s stock worth $829,000 after purchasing an additional 1,813 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Clearwater Analytics by 8,171.7% in the second quarter. Rhumbline Advisers now owns 185,948 shares of the company’s stock worth $3,444,000 after buying an additional 183,700 shares during the period. Victory Capital Management Inc. raised its holdings in Clearwater Analytics by 21.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,459 shares of the company’s stock valued at $286,000 after buying an additional 2,734 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Clearwater Analytics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 40,894 shares of the company’s stock valued at $757,000 after buying an additional 828 shares during the period. Hedge funds and other institutional investors own 50.10% of the company’s stock.

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.