Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has received an average rating of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $32.40.

A number of equities research analysts recently commented on CWAN shares. Morgan Stanley restated an “overweight” rating and set a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. UBS Group upped their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Piper Sandler reduced their price objective on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company reduced their price objective on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Royal Bank of Canada upped their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th.

Insider Buying and Selling

In related news, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $23.09, for a total value of $1,154,500.00. Following the completion of the sale, the chief executive officer now directly owns 876,754 shares in the company, valued at approximately $20,244,249.86. This trade represents a 5.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Scott Stanley Erickson sold 4,141 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $27.65, for a total transaction of $114,498.65. Following the completion of the sale, the executive now owns 7,902 shares of the company’s stock, valued at $218,490.30. This trade represents a 34.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 204,175 shares of company stock valued at $5,040,744. 3.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Clearwater Analytics by 98.2% in the fourth quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock valued at $163,867,000 after buying an additional 2,950,555 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Clearwater Analytics by 66.0% during the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock worth $202,931,000 after buying an additional 2,931,445 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Clearwater Analytics by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock worth $574,607,000 after buying an additional 2,455,844 shares during the last quarter. Norges Bank bought a new stake in shares of Clearwater Analytics in the fourth quarter worth $59,402,000. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Clearwater Analytics in the first quarter worth $56,648,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Analytics Trading Up 1.1%

CWAN stock opened at $23.12 on Thursday. Clearwater Analytics has a 1-year low of $17.63 and a 1-year high of $35.71. The firm has a market cap of $6.55 billion, a P/E ratio of 13.93, a P/E/G ratio of 8.23 and a beta of 0.77. The business’s 50 day moving average is $23.21 and its 200-day moving average is $26.75. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $126.86 million for the quarter, compared to analyst estimates of $125.11 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The company’s revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. Equities analysts anticipate that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

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.