Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Receives $32.67 Average Target Price from Brokerages

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $32.2222.

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered Clearwater Analytics from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Zacks Research upgraded Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. DA Davidson cut their price objective on Clearwater Analytics from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday. The Goldman Sachs Group upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Monday, August 11th. Finally, Weiss Ratings upgraded Clearwater Analytics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 24th.

Insider Buying and Selling at Clearwater Analytics

In related news, CFO James S. Cox sold 11,275 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $19.51, for a total value of $219,975.25. Following the completion of the transaction, the chief financial officer owned 338,964 shares of the company’s stock, valued at approximately $6,613,187.64. This trade represents a 3.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sandeep Sahai sold 46,962 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $20.12, for a total transaction of $944,875.44. Following the completion of the transaction, the chief executive officer directly owned 895,663 shares of the company’s stock, valued at approximately $18,020,739.56. The trade was a 4.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 143,602 shares of company stock worth $2,756,283 in the last 90 days. 3.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its holdings in shares of Clearwater Analytics by 189.3% in the 3rd quarter. Versant Capital Management Inc now owns 1,565 shares of the company’s stock valued at $28,000 after acquiring an additional 1,024 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Clearwater Analytics by 278.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,523 shares of the company’s stock valued at $33,000 after acquiring an additional 1,121 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Clearwater Analytics by 84.6% in the 2nd quarter. Bessemer Group Inc. now owns 1,545 shares of the company’s stock valued at $35,000 after acquiring an additional 708 shares during the last quarter. Nvwm LLC bought a new position in shares of Clearwater Analytics in the 1st quarter valued at about $46,000. Finally, Quarry LP lifted its holdings in shares of Clearwater Analytics by 979.4% in the 1st quarter. Quarry LP now owns 2,094 shares of the company’s stock valued at $56,000 after acquiring an additional 1,900 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Trading Down 4.1%

Shares of CWAN stock opened at $17.40 on Friday. Clearwater Analytics has a 52-week low of $17.15 and a 52-week high of $35.71. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a market capitalization of $5.09 billion, a PE ratio of 10.94, a PEG ratio of 4.97 and a beta of 0.69. The stock has a fifty day simple moving average of $18.83 and a two-hundred day simple moving average of $20.83.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $181.94 million during the quarter, compared to analysts’ expectations of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The company’s quarterly revenue was up 70.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. On average, analysts predict that Clearwater Analytics will post 0.18 EPS for the current fiscal year.

Clearwater Analytics declared that its Board of Directors has authorized a share buyback plan on Wednesday, September 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 1.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.