Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $32.00.

Several analysts recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. JPMorgan Chase & Co. initiated coverage on shares of Clearwater Analytics in a research report on Friday, April 25th. They set an “overweight” rating and a $28.00 target price for the company. Wells Fargo & Company cut their target price on shares of Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Piper Sandler cut their target price on shares of Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Finally, UBS Group lifted their price target on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 20th.

Insider Activity at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $23.17, for a total value of $433,279.00. Following the completion of the sale, the chief financial officer now directly owns 358,885 shares in the company, valued at approximately $8,315,365.45. The trade was a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $24.29, for a total transaction of $1,214,500.00. Following the completion of the sale, the chief executive officer now owns 876,754 shares of the company’s stock, valued at approximately $21,296,354.66. The trade was a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 644,510 shares of company stock worth $18,311,363. 3.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clearwater Analytics

A number of institutional investors have recently bought and sold shares of the stock. Apollon Wealth Management LLC grew its stake in Clearwater Analytics by 3.9% during the first quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company’s stock worth $331,000 after buying an additional 459 shares during the period. GAMMA Investing LLC increased 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 worth $35,000 after acquiring an additional 468 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Clearwater Analytics by 3.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company’s stock worth $469,000 after acquiring an additional 502 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Clearwater Analytics by 11.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company’s stock worth $142,000 after acquiring an additional 521 shares in the last quarter. Finally, Huntleigh Advisors Inc. increased its position in shares of Clearwater Analytics by 1.9% in the first quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company’s stock worth $863,000 after acquiring an additional 595 shares in the last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Analytics Stock Down 0.9%

Shares of NYSE:CWAN opened at $23.81 on Friday. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 8.23 and a beta of 0.79. The firm’s 50-day simple moving average is $24.31 and its 200-day simple moving average is $27.33. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics has a fifty-two week low of $17.63 and a fifty-two week high of $35.71.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The firm had revenue of $126.86 million during the quarter, compared to analysts’ expectations of $125.11 million. During the same quarter last year, the business earned $0.10 earnings per share. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. As a group, equities research analysts predict that Clearwater Analytics will post 0.18 earnings per share 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.