Clearwater Analytics (NYSE:CWAN) Stock Price Expected to Rise, Oppenheimer Analyst Says

Clearwater Analytics (NYSE:CWANGet Free Report) had its target price raised by investment analysts at Oppenheimer from $35.00 to $40.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 34.32% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Clearwater Analytics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. 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 research report on Thursday, November 7th. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $23.00 to $33.00 in a research report on Thursday, November 7th. Piper Sandler upped their price target on shares of Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, DA Davidson cut shares of Clearwater Analytics from a “buy” rating to a “neutral” rating and increased their price target for the stock from $31.00 to $35.00 in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.67.

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Clearwater Analytics Stock Down 4.2 %

Shares of CWAN traded down $1.30 during midday trading on Tuesday, reaching $29.78. 1,225,084 shares of the company were exchanged, compared to its average volume of 1,613,713. Clearwater Analytics has a 1-year low of $15.62 and a 1-year high of $35.71. The stock has a 50-day moving average price of $27.91 and a 200-day moving average price of $23.55. 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 company has a market cap of $7.36 billion, a price-to-earnings ratio of 2,980.98, a P/E/G ratio of 11.09 and a beta of 0.68.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $31.34, for a total value of $121,912.60. Following the completion of the sale, the executive now directly owns 6,373 shares of the company’s stock, valued at approximately $199,729.82. This represents a 37.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $24.44, for a total transaction of $457,028.00. Following the completion of the transaction, the chief financial officer now directly owns 227,503 shares in the company, valued at $5,560,173.32. This represents a 7.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,770 shares of company stock valued at $1,826,606. Company insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in Clearwater Analytics during the third quarter valued at about $45,000. Financial Management Professionals Inc. purchased a new position in Clearwater Analytics during the 3rd quarter worth approximately $58,000. Benjamin F. Edwards & Company Inc. raised its position in Clearwater Analytics by 124.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock valued at $81,000 after buying an additional 2,425 shares during the period. Amalgamated Bank purchased a new position in Clearwater Analytics during the 2nd quarter valued at about $90,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Clearwater Analytics by 38.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock valued at $90,000 after buying an additional 995 shares during the period. Institutional investors and hedge funds own 50.10% of the company’s stock.

About Clearwater Analytics

(Get Free Report)

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.

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