Wells Fargo & Company Issues Positive Forecast for Clearwater Analytics (NYSE:CWAN) Stock Price

Clearwater Analytics (NYSE:CWAN - Free Report) had its target price hoisted by Wells Fargo & Company from $35.00 to $37.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently issued reports on CWAN. Oppenheimer boosted their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. DA Davidson upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and dropped their target price for the company from $35.00 to $32.00 in a report on Tuesday, January 14th. The Goldman Sachs Group upped their target price on Clearwater Analytics from $20.00 to $22.00 and gave the company a "sell" rating in a report on Thursday, November 7th. Morgan Stanley upgraded Clearwater Analytics from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $30.00 to $34.00 in a report on Friday, January 17th. Finally, Piper Sandler upgraded Clearwater Analytics from a "neutral" rating to an "overweight" rating and upped their target price for the company from $28.00 to $36.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.80.

Clearwater Analytics Trading Up 4.7 %

NYSE CWAN traded up $1.41 on Thursday, hitting $31.35. 5,089,250 shares of the company were exchanged, compared to its average volume of 2,158,487. The company's 50 day moving average price is $28.03 and its 200-day moving average price is $27.11. 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 firm has a market capitalization of $7.74 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 8.23 and a beta of 0.72. Clearwater Analytics has a twelve month low of $15.62 and a twelve month high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. Analysts predict that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sandeep Sahai sold 139,172 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $28.94, for a total value of $4,027,637.68. Following the completion of the sale, the chief executive officer now directly owns 441,724 shares of the company's stock, valued at approximately $12,783,492.56. This represents a 23.96 % 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 76,256 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $2,293,017.92. Following the completion of the sale, the executive now directly owns 78,363 shares of the company's stock, valued at $2,356,375.41. This represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 733,431 shares of company stock valued at $21,444,493 over the last 90 days. 4.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clearwater Analytics

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock valued at $35,000 after acquiring an additional 468 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Clearwater Analytics in the third quarter valued at $45,000. Arcadia Investment Management Corp MI acquired a new position in shares of Clearwater Analytics in the fourth quarter valued at $57,000. Financial Management Professionals Inc. acquired a new position in shares of Clearwater Analytics in the third quarter valued at $58,000. Finally, R Squared Ltd acquired a new position in shares of Clearwater Analytics in the fourth quarter valued at $80,000. 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.