Wells Fargo & Company Forecasts Strong Price Appreciation for Clearwater Analytics (NYSE:CWAN) Stock

Clearwater Analytics (NYSE:CWAN) had its price target boosted by equities research analysts at Wells Fargo & Company from $33.00 to $35.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 17.88% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Oppenheimer upped their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday. Citigroup began coverage on Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 target price on the stock. Royal Bank of Canada upped their price target on Clearwater Analytics from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. The Goldman Sachs Group lifted their price objective on Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Finally, Morgan Stanley upped their target price on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Clearwater Analytics currently has an average rating of “Hold” and an average price target of $31.89.

Clearwater Analytics Stock Performance

Shares of CWAN stock traded down $0.30 during trading hours on Thursday, reaching $29.69. 52,919 shares of the company’s stock were exchanged, compared to its average volume of 1,643,891. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $35.71. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $7.33 billion, a P/E ratio of 2,971.97, a P/E/G ratio of 10.58 and a beta of 0.69. The business has a fifty day moving average price of $28.08 and a 200-day moving average price of $23.67.

Insider Activity

In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the transaction, the chief financial officer now owns 224,044 shares in the company, valued at $5,860,991.04. The trade was a 7.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction on 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 $199,729.82. This trade represents a 37.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,770 shares of company stock worth $1,826,606. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

Hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in shares of Clearwater Analytics by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock valued at $2,323,000 after acquiring an additional 23,971 shares during the last quarter. Jane Street Group LLC raised its holdings in Clearwater Analytics by 234.2% in the first quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock worth $4,702,000 after purchasing an additional 186,273 shares during the period. Seven Eight Capital LP bought a new position in shares of Clearwater Analytics during the second quarter worth $1,797,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Clearwater Analytics in the 3rd quarter valued at $3,677,000. Finally, Loomis Sayles & Co. L P raised its stake in Clearwater Analytics by 11.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company’s stock worth $83,186,000 after buying an additional 327,880 shares during the period. Institutional investors own 50.10% of the company’s stock.

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.