Clearwater Analytics (NYSE:CWAN) Given New $38.00 Price Target at UBS Group

Clearwater Analytics (NYSE:CWAN - Get Free Report) had its price objective hoisted by equities research analysts at UBS Group from $36.00 to $38.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's price target would suggest a potential upside of 21.23% from the company's current price.

A number of other brokerages have also issued reports on CWAN. Oppenheimer raised their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Royal Bank of Canada lowered their target price on shares of Clearwater Analytics from $36.00 to $30.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 14th. The Goldman Sachs Group raised their target price on shares of Clearwater Analytics from $20.00 to $22.00 and gave the stock a "sell" rating in a research report on Thursday, November 7th. Piper Sandler upgraded shares of Clearwater Analytics from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $28.00 to $36.00 in a research report on Thursday. Finally, Morgan Stanley upgraded shares of 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 report on Friday, January 17th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Clearwater Analytics has an average rating of "Moderate Buy" and a consensus target price of $33.80.

Clearwater Analytics Stock Up 4.7 %

Clearwater Analytics stock traded up $1.41 during mid-day trading on Thursday, hitting $31.35. The company had a trading volume of 5,089,250 shares, compared to its average volume of 2,412,201. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 7.43 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 company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $28.03 and a 200 day moving average of $27.11.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.07). The business had revenue of $126.47 million for the quarter, compared to analysts' expectations of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. On average, sell-side analysts expect that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $29.07, for a total value of $113,082.30. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sandeep Sahai sold 139,172 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the completion of the sale, the chief executive officer now owns 441,724 shares in the company, valued at $12,783,492.56. This represents a 23.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 733,431 shares of company stock worth $21,444,493. Corporate insiders own 4.60% of the company's stock.

Institutional Investors Weigh In On Clearwater Analytics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp boosted its position in shares of Clearwater Analytics by 21.7% in the 4th quarter. Mackenzie Financial Corp now owns 10,996 shares of the company's stock worth $303,000 after buying an additional 1,960 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Clearwater Analytics in the 4th quarter worth about $3,362,000. GTS Securities LLC purchased a new stake in shares of Clearwater Analytics in the 4th quarter worth about $479,000. Ashford Capital Management Inc. purchased a new stake in shares of Clearwater Analytics in the 4th quarter worth about $7,736,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Clearwater Analytics by 57.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 452,466 shares of the company's stock valued at $12,452,000 after purchasing an additional 164,603 shares during the last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

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.