Clearwater Analytics (NYSE:CWAN) Shares Gap Up Following Analyst Upgrade

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) shares gapped up before the market opened on Thursday after UBS Group raised their price target on the stock from $36.00 to $38.00. The stock had previously closed at $27.04, but opened at $31.77. UBS Group currently has a buy rating on the stock. Clearwater Analytics shares last traded at $30.08, with a volume of 2,487,770 shares changing hands.

Several other research firms also recently weighed in on CWAN. Oppenheimer boosted 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. Morgan Stanley upgraded Clearwater Analytics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $30.00 to $34.00 in a research report on Friday, January 17th. Wells Fargo & Company upped their price target on Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday. Royal Bank of Canada reduced their price objective on Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Finally, Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $28.00 to $36.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Activity

In other Clearwater Analytics news, CEO Sandeep Sahai sold 139,172 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the sale, the chief executive officer now directly owns 441,724 shares in the company, valued at approximately $12,783,492.56. The trade was a 23.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $29.07, for a total transaction of $113,082.30. Following the completion of the transaction, the executive now owns 6,373 shares of the company’s stock, valued at $185,263.11. This trade represents a 37.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 299,162 shares of company stock valued at $8,386,024. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CWAN. Neo Ivy Capital Management acquired a new position in shares of Clearwater Analytics during the 4th quarter valued at $3,362,000. GTS Securities LLC acquired a new stake in Clearwater Analytics in the 4th quarter valued at about $479,000. Ashford Capital Management Inc. bought a new position in shares of Clearwater Analytics during the 4th quarter valued at about $7,736,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 worth $12,452,000 after purchasing an additional 164,603 shares during the last quarter. Finally, Wolverine Trading LLC acquired a new position in shares of Clearwater Analytics in the 4th quarter worth approximately $614,000. Institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Price Performance

The firm has a market capitalization of $7.59 billion, a P/E ratio of 3,064.36, a P/E/G ratio of 7.59 and a beta of 0.72. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average is $28.00 and its 200 day moving average is $27.04.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 0.21% and a return on equity of 5.68%. As a group, analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.14 EPS for the current year.

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.