Analysts Set Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Target Price at $29.56

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $29.5556.

Several brokerages recently issued reports on CWAN. Zacks Research upgraded Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Morgan Stanley reissued an “overweight” rating and issued a $27.00 price target on shares of Clearwater Analytics in a report on Monday, November 24th. Weiss Ratings restated a “hold (c)” rating on shares of Clearwater Analytics in a research report on Monday. DA Davidson reiterated a “buy” rating and set a $30.00 price objective on shares of Clearwater Analytics in a research report on Tuesday, November 18th. Finally, Wall Street Zen downgraded shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd.

Clearwater Analytics Price Performance

Clearwater Analytics stock opened at $21.28 on Thursday. The firm has a market capitalization of $6.23 billion, a PE ratio of 13.91, a P/E/G ratio of 5.54 and a beta of 0.67. Clearwater Analytics has a 52 week low of $15.73 and a 52 week high of $32.00. The firm’s 50-day simple moving average is $18.95 and its 200 day simple moving average is $20.40. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.42.

Clearwater Analytics (NYSE:CWAN) last posted its earnings results on Wednesday, November 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Clearwater Analytics had a net margin of 61.28% and a return on equity of 2.77%. The business had revenue of $205.11 million for the quarter, compared to analysts’ expectations of $203.66 million. During the same quarter last year, the business posted $0.14 earnings per share. The business’s revenue was up 77.1% compared to the same quarter last year. On average, equities research analysts predict that Clearwater Analytics will post 0.18 EPS for the current fiscal year.

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

Insider Buying and Selling at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 16,592 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total transaction of $293,346.56. Following the sale, the chief executive officer owned 913,600 shares in the company, valued at approximately $16,152,448. This trade represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Subi Sethi sold 7,434 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $131,433.12. Following the completion of the transaction, the insider owned 226,980 shares of the company’s stock, valued at $4,013,006.40. This trade represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 113,302 shares of company stock valued at $2,207,626. 3.31% of the stock is owned by corporate insiders.

Institutional Trading of Clearwater Analytics

A number of hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its stake in shares of Clearwater Analytics by 278.9% during 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. grew its holdings in Clearwater Analytics by 84.6% in the second quarter. Bessemer Group Inc. now owns 1,545 shares of the company’s stock valued at $35,000 after purchasing an additional 708 shares during the period. Versant Capital Management Inc increased its position in Clearwater Analytics by 189.3% during the third quarter. Versant Capital Management Inc now owns 1,565 shares of the company’s stock worth $28,000 after purchasing an additional 1,024 shares during the last quarter. Essex Investment Management Co. LLC increased its position in Clearwater Analytics by 54.9% during the third quarter. Essex Investment Management Co. LLC now owns 1,806 shares of the company’s stock worth $33,000 after purchasing an additional 640 shares during the last quarter. Finally, Danske Bank A S purchased a new position in Clearwater Analytics during the third quarter worth approximately $36,000. 50.10% of the stock is owned by institutional investors and hedge funds.

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.