Royal Bank of Canada Cuts Clearwater Analytics (NYSE:CWAN) Price Target to $30.00

Clearwater Analytics (NYSE:CWAN - Get Free Report) had its target price lowered by Royal Bank of Canada from $36.00 to $30.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's price objective suggests a potential upside of 13.29% from the company's current price.

Several other brokerages have also commented on CWAN. The Goldman Sachs Group lifted their target price on Clearwater Analytics from $20.00 to $22.00 and gave the stock a "sell" rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $23.00 to $33.00 in a report on Thursday, November 7th. Morgan Stanley increased their target price 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. Piper Sandler lifted their price target on shares of Clearwater Analytics from $23.00 to $28.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Oppenheimer boosted their price objective on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Clearwater Analytics presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.89.

Clearwater Analytics Stock Up 2.2 %

NYSE:CWAN traded up $0.58 during mid-day trading on Tuesday, reaching $26.48. The stock had a trading volume of 2,566,312 shares, compared to its average volume of 2,220,896. 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 market capitalization of $6.54 billion, a price-to-earnings ratio of 2,650.65, a price-to-earnings-growth ratio of 10.56 and a beta of 0.72. Clearwater Analytics has a 1-year low of $15.62 and a 1-year high of $35.71. The stock's 50 day simple moving average is $29.35 and its two-hundred day simple moving average is $25.50.

Insider Buying and Selling at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $31.34, for a total transaction of $121,912.60. Following the transaction, the executive now owns 6,373 shares in the company, valued at $199,729.82. This trade represents a 37.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $30.34, for a total value of $567,358.00. Following the sale, the chief financial officer now directly owns 219,044 shares in the company, valued at approximately $6,645,794.96. The trade was a 7.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,352 shares of company stock worth $5,384,446. 4.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

Hedge funds have recently modified their holdings of the company. Park Avenue Securities LLC acquired a new position in shares of Clearwater Analytics in the 4th quarter worth approximately $345,000. GAMMA Investing LLC grew its position in Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock worth $35,000 after buying an additional 468 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Clearwater Analytics by 348.3% in the third quarter. Principal Financial Group Inc. now owns 84,793 shares of the company's stock valued at $2,141,000 after buying an additional 65,878 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Clearwater Analytics by 30.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 21,126 shares of the company's stock valued at $533,000 after acquiring an additional 4,923 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Clearwater Analytics by 43.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 62,178 shares of the company's stock worth $1,570,000 after acquiring an additional 18,712 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

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.