Wells Fargo & Company Lowers Clearwater Analytics (NYSE:CWAN) Price Target to $27.00

Clearwater Analytics (NYSE:CWAN) had its target price cut by equities researchers at Wells Fargo & Company from $32.00 to $27.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 66.76% from the stock’s previous close.

CWAN has been the topic of a number of other research reports. Weiss Ratings raised Clearwater Analytics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 24th. The Goldman Sachs Group raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a report on Monday, August 11th. Wall Street Zen downgraded shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Clearwater Analytics in a research note on Wednesday, September 17th. Finally, Zacks Research raised Clearwater Analytics from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.56.

Clearwater Analytics Stock Performance

CWAN opened at $16.19 on Thursday. The company has a quick ratio of 2.02, a current ratio of 1.97 and a debt-to-equity ratio of 0.42. Clearwater Analytics has a 12-month low of $15.73 and a 12-month high of $32.71. The business has a 50 day moving average of $18.59 and a 200-day moving average of $20.74. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 4.35 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Clearwater Analytics had a net margin of 61.28% and a return on equity of 2.77%. The company had revenue of $205.11 million during the quarter, compared to the consensus estimate of $203.66 million. During the same period in the prior year, the company earned $0.14 earnings per share. The firm’s revenue was up 77.1% compared to the same quarter last year. Clearwater Analytics has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities research analysts expect that Clearwater Analytics will post 0.18 earnings per share for the current year.

Clearwater Analytics announced that its Board of Directors has authorized a share repurchase program on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 1.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, CTO Souvik Das sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the chief technology officer owned 132,549 shares in the company, valued at $2,650,980. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Subi Sethi sold 7,434 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $131,433.12. Following the completion of the transaction, the insider directly owned 226,980 shares of the company’s stock, valued at approximately $4,013,006.40. This represents a 3.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 143,602 shares of company stock worth $2,756,283 over the last ninety days. 3.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

Several institutional investors and hedge funds have recently modified their holdings of CWAN. CenterBook Partners LP increased its position in Clearwater Analytics by 20.3% during the third quarter. CenterBook Partners LP now owns 29,558 shares of the company’s stock worth $533,000 after purchasing an additional 4,994 shares during the last quarter. Advisors Capital Management LLC acquired a new stake in shares of Clearwater Analytics in the third quarter valued at approximately $2,251,000. Vanguard Group Inc. grew its position in Clearwater Analytics by 21.9% during the 3rd quarter. Vanguard Group Inc. now owns 33,261,349 shares of the company’s stock worth $599,370,000 after purchasing an additional 5,967,798 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Clearwater Analytics by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,853,859 shares of the company’s stock valued at $123,507,000 after acquiring an additional 1,079,574 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Clearwater Analytics by 27.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 108,524 shares of the company’s stock worth $1,956,000 after purchasing an additional 23,608 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.