Royal Bank of Canada Raises Clearwater Analytics (NYSE:CWAN) Price Target to $32.00

Clearwater Analytics (NYSE:CWAN - Free Report) had its price objective lifted by Royal Bank of Canada from $28.00 to $32.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other analysts have also recently commented on the company. Piper Sandler raised their target price on Clearwater Analytics from $23.00 to $28.00 and gave the company a "neutral" rating in a research report on Thursday. Oppenheimer lifted their price objective on shares of Clearwater Analytics from $25.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, October 7th. Wells Fargo & Company upped their price objective on shares of Clearwater Analytics from $23.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday. Morgan Stanley raised their target price on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. Finally, Citigroup started coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They issued a "buy" rating and a $28.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Clearwater Analytics presently has an average rating of "Moderate Buy" and a consensus price target of $28.90.

Clearwater Analytics Stock Performance

NYSE CWAN traded up $4.19 during trading hours on Thursday, hitting $32.77. The company had a trading volume of 6,549,018 shares, compared to its average volume of 1,471,997. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11. The firm has a market cap of $8.07 billion, a P/E ratio of -1,638.50, a price-to-earnings-growth ratio of 9.53 and a beta of 0.61. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $35.71. The business has a fifty day simple moving average of $25.64 and a 200-day simple moving average of $21.85.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.02. The business had revenue of $115.83 million for the quarter, compared to analysts' expectations of $113.37 million. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. Equities analysts predict that Clearwater Analytics will post 0.14 EPS for the current year.

Insider Activity

In other news, CRO Scott Stanley Erickson sold 3,890 shares of the business's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total transaction of $92,387.50. Following the sale, the executive now directly owns 4,844 shares of the company's stock, valued at $115,045. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the transaction, the chief financial officer now owns 224,044 shares of the company's stock, valued at approximately $5,860,991.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total transaction of $92,387.50. Following the transaction, the executive now owns 4,844 shares in the company, valued at approximately $115,045. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,864,693 shares of company stock worth $45,128,342. Insiders own 3.46% of the company's stock.

Institutional Trading of Clearwater Analytics

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Clearwater Analytics by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company's stock worth $267,676,000 after acquiring an additional 2,219,459 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Clearwater Analytics by 1.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company's stock worth $210,659,000 after purchasing an additional 128,402 shares during the period. William Blair Investment Management LLC grew its position in Clearwater Analytics by 0.6% during the second quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company's stock valued at $193,178,000 after purchasing an additional 66,528 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in Clearwater Analytics by 1.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company's stock worth $171,156,000 after buying an additional 107,210 shares in the last quarter. Finally, Bamco Inc. NY boosted its stake in shares of Clearwater Analytics by 30.8% during the 1st quarter. Bamco Inc. NY now owns 5,359,172 shares of the company's stock valued at $94,804,000 after buying an additional 1,262,150 shares during the period. Institutional investors and hedge funds own 50.10% of the company's stock.

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.