Clearwater Analytics (NYSE:CWAN) Shares Gap Up Following Analyst Upgrade

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) gapped up prior to trading on Thursday after Royal Bank of Canada raised their price target on the stock from $30.00 to $36.00. The stock had previously closed at $27.04, but opened at $31.77. Royal Bank of Canada currently has an outperform rating on the stock. Clearwater Analytics shares last traded at $30.08, with a volume of 2,487,770 shares changing hands.

Several other research analysts have also recently commented on CWAN. DA Davidson raised Clearwater Analytics from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $35.00 to $32.00 in a research note on Tuesday, January 14th. Morgan Stanley upgraded Clearwater Analytics from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $30.00 to $34.00 in a research note on Friday, January 17th. Piper Sandler upgraded shares of Clearwater Analytics from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $28.00 to $36.00 in a research note on Thursday. The Goldman Sachs Group lifted their price target on shares of Clearwater Analytics from $20.00 to $22.00 and gave the stock a "sell" rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company increased their price objective on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Clearwater Analytics currently has a consensus rating of "Moderate Buy" and an average price target of $33.80.

Insider Transactions at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $29.65, for a total value of $554,455.00. Following the completion of the sale, the chief financial officer now directly owns 214,044 shares of the company's stock, valued at approximately $6,346,404.60. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $29.07, for a total transaction of $113,082.30. Following the completion of the transaction, the executive now directly owns 6,373 shares in the company, valued at $185,263.11. The trade was a 37.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 733,431 shares of company stock worth $21,444,493. 4.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CWAN. Chartwell Investment Partners LLC increased its position in Clearwater Analytics by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company's stock valued at $1,233,000 after acquiring an additional 395 shares during the period. GAMMA Investing LLC grew its stake in shares of Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock valued at $35,000 after purchasing an additional 468 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Clearwater Analytics by 3.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company's stock valued at $469,000 after purchasing an additional 502 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Clearwater Analytics by 11.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company's stock worth $142,000 after purchasing an additional 521 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in shares of Clearwater Analytics by 5.5% during the third quarter. IHT Wealth Management LLC now owns 11,416 shares of the company's stock worth $288,000 after purchasing an additional 598 shares during the period. 50.10% of the stock is owned by hedge funds and other institutional investors.

Clearwater Analytics Trading Up 4.7 %

The stock has a market capitalization of $7.74 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 8.23 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. The business's 50-day moving average is $28.03 and its two-hundred day moving average is $27.11.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The firm had revenue of $126.47 million for the quarter, compared to analysts' expectations of $120.34 million. As a group, equities research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current 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.