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

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) have been given an average recommendation of “Moderate Buy” by the ten analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $21.70.

Several equities analysts recently weighed in on the stock. DA Davidson restated a “buy” rating and set a $24.00 price target on shares of Clearwater Analytics in a research report on Monday, February 5th. Morgan Stanley reissued an “equal weight” rating and set a $19.00 target price on shares of Clearwater Analytics in a research report on Thursday. Piper Sandler reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Clearwater Analytics in a report on Thursday, February 29th. JPMorgan Chase & Co. reduced their price objective on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Wells Fargo & Company lowered their target price on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday.

Clearwater Analytics Stock Up 2.9 %

Clearwater Analytics stock opened at $17.67 on Wednesday. Clearwater Analytics has a fifty-two week low of $13.02 and a fifty-two week high of $21.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.15 and a current ratio of 5.15. The firm’s 50-day simple moving average is $17.01 and its 200 day simple moving average is $18.66. The stock has a market cap of $4.32 billion, a PE ratio of -220.88, a price-to-earnings-growth ratio of 7.01 and a beta of 0.50.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Clearwater Analytics had a positive return on equity of 1.26% and a negative net margin of 3.90%. The company had revenue of $102.70 million during the quarter, compared to the consensus estimate of $100.55 million. During the same period last year, the business posted $0.07 earnings per share. Clearwater Analytics’s revenue was up 21.4% on a year-over-year basis. Research analysts predict that Clearwater Analytics will post 0.11 EPS for the current fiscal year.

Insider Transactions at Clearwater Analytics

In other news, CFO James S. Cox sold 10,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $19.74, for a total value of $197,400.00. Following the transaction, the chief financial officer now owns 148,711 shares of the company’s stock, valued at $2,935,555.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO James S. Cox sold 10,000 shares of Clearwater Analytics stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $19.74, for a total transaction of $197,400.00. Following the completion of the sale, the chief financial officer now owns 148,711 shares in the company, valued at approximately $2,935,555.14. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $16.90, for a total transaction of $274,625,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,310,000 shares of company stock valued at $275,809,400. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clearwater Analytics

Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in Clearwater Analytics by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 588,559 shares of the company’s stock valued at $11,383,000 after acquiring an additional 29,039 shares during the last quarter. Brown Advisory Inc. purchased a new position in Clearwater Analytics in the 3rd quarter worth $8,112,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Clearwater Analytics by 45.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,913 shares of the company’s stock worth $366,000 after purchasing an additional 5,893 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Clearwater Analytics by 14.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,052,126 shares of the company’s stock valued at $39,688,000 after buying an additional 257,515 shares during the period. Finally, Conestoga Capital Advisors LLC grew its stake in shares of Clearwater Analytics by 2.7% during the third quarter. Conestoga Capital Advisors LLC now owns 6,376,562 shares of the company’s stock valued at $123,323,000 after buying an additional 166,745 shares during the last quarter. 50.10% of the stock is currently owned by institutional investors.

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.