Clearwater Analytics (NYSE:CWAN) Given New $36.00 Price Target at Royal Bank of Canada

Clearwater Analytics (NYSE:CWAN - Free Report) had its target price upped by Royal Bank of Canada from $32.00 to $36.00 in a report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently commented on CWAN. Wells Fargo & Company boosted their price objective on Clearwater Analytics from $23.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Morgan Stanley upped their price objective on shares of Clearwater Analytics from $20.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. DA Davidson cut shares of Clearwater Analytics from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $31.00 to $35.00 in a report on Friday, November 8th. Citigroup began coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They issued a "buy" rating and a $28.00 target price on the stock. Finally, JPMorgan Chase & Co. upgraded Clearwater Analytics from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $23.00 to $33.00 in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Clearwater Analytics currently has an average rating of "Hold" and an average price target of $31.11.

Clearwater Analytics Stock Up 0.6 %

Shares of CWAN stock traded up $0.19 on Friday, reaching $31.94. 1,754,516 shares of the company were exchanged, compared to its average volume of 3,096,017. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The company has a 50-day moving average of $27.15 and a 200-day moving average of $22.94. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 3,197.20, a PEG ratio of 11.34 and a beta of 0.61. Clearwater Analytics has a one year low of $15.62 and a one year high of $35.71.

Insider Transactions at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the firm's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total transaction of $92,387.50. Following the completion of the sale, the executive now owns 4,844 shares in the company, valued at approximately $115,045. This trade represents a 44.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Galibier Purchaser, Llc sold 1,784,316 shares of the business's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $24.18, for a total transaction of $43,144,760.88. The disclosure for this sale can be found here. Insiders have sold 1,852,086 shares of company stock worth $44,971,367 in the last 90 days. Insiders own 3.25% of the company's stock.

Hedge Funds Weigh In On Clearwater Analytics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its position in shares of Clearwater Analytics by 268.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company's stock valued at $30,000 after buying an additional 1,234 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Clearwater Analytics during the third quarter valued at about $45,000. Financial Management Professionals Inc. purchased a new position in shares of Clearwater Analytics in the third quarter worth about $58,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Clearwater Analytics by 124.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company's stock valued at $81,000 after purchasing an additional 2,425 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Clearwater Analytics during the 3rd quarter valued at approximately $117,000. 50.10% of the stock is 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.