Wells Fargo & Company Issues Positive Forecast for Clearwater Analytics (NYSE:CWAN) Stock Price

Clearwater Analytics (NYSE:CWAN) had its target price raised by equities research analysts at Wells Fargo & Company from $35.00 to $37.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 23.68% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Morgan Stanley raised shares of Clearwater Analytics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $30.00 to $34.00 in a report on Friday, January 17th. DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and dropped their price target for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $23.00 to $33.00 in a research note on Thursday, November 7th. Royal Bank of Canada dropped their target price on Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. Finally, Oppenheimer increased their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.44.

Clearwater Analytics Trading Up 10.6 %

Clearwater Analytics stock opened at $29.92 on Thursday. Clearwater Analytics has a one year low of $15.62 and a one year high of $35.71. The stock has a market cap of $7.39 billion, a PE ratio of 3,024.12, a price-to-earnings-growth ratio of 7.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. The stock has a 50-day moving average of $28.00 and a two-hundred day moving average of $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 the consensus estimate of $0.11 by ($0.07). The company had revenue of $126.47 million during the quarter, compared to analysts’ expectations of $120.34 million. Clearwater Analytics had a net margin of 0.21% and a return on equity of 5.68%. On average, research analysts anticipate that Clearwater Analytics will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $27.33, for a total transaction of $511,071.00. Following the transaction, the chief financial officer now owns 274,857 shares in the company, valued at approximately $7,511,841.81. This represents a 6.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sandeep Sahai sold 139,172 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.94, for a total value of $4,027,637.68. Following the completion of the sale, the chief executive officer now owns 441,724 shares of the company’s stock, valued at $12,783,492.56. This trade represents a 23.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 299,162 shares of company stock valued at $8,386,024. 4.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CWAN. GAMMA Investing LLC lifted its stake in Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after buying an additional 468 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Clearwater Analytics in the third quarter valued at approximately $45,000. Arcadia Investment Management Corp MI purchased a new position in shares of Clearwater Analytics during the 4th quarter worth $57,000. Financial Management Professionals Inc. acquired a new position in Clearwater Analytics in the 3rd quarter valued at about $58,000. Finally, R Squared Ltd acquired a new position in Clearwater Analytics in the fourth quarter valued at approximately $80,000. 50.10% of the stock is owned by hedge funds and other institutional investors.

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.