Clearwater Analytics (NYSE:CWAN) PT Lowered to $22.00 at Wells Fargo & Company

Clearwater Analytics (NYSE:CWAN) had its price objective decreased by Wells Fargo & Company from $24.00 to $22.00 in a research report report published on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

CWAN has been the topic of a number of other research reports. Piper Sandler restated a neutral rating and issued a $20.00 target price on shares of Clearwater Analytics in a research note on Thursday, February 29th. JPMorgan Chase & Co. cut Clearwater Analytics from an overweight rating to a neutral rating and lowered their price target for the company from $24.00 to $22.00 in a research note on Thursday, February 29th. Finally, DA Davidson restated a buy rating and issued a $24.00 price objective on shares of Clearwater Analytics in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $21.70.

Clearwater Analytics Stock Up 2.9 %

NYSE:CWAN traded up $0.49 during trading hours on Thursday, hitting $17.67. 1,563,888 shares of the company’s stock traded hands, compared to its average volume of 1,079,200. The stock’s fifty day moving average price is $17.01 and its two-hundred day moving average price is $18.68. The firm has a market cap of $4.32 billion, a P/E ratio of -220.75, a P/E/G ratio of 6.82 and a beta of 0.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.15 and a current ratio of 5.15. Clearwater Analytics has a twelve month low of $13.02 and a twelve month high of $21.89.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $102.70 million for the quarter, compared to analyst estimates of $100.55 million. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.26%. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS. On average, research analysts expect that Clearwater Analytics will post 0.13 earnings per share for the current fiscal year.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 10,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $19.74, for a total transaction of $197,400.00. Following the completion of the transaction, the chief financial officer now owns 148,711 shares of the company’s stock, valued at approximately $2,935,555.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $16.90, for a total value of $274,625,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James S. Cox sold 10,000 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $19.74, for a total transaction of $197,400.00. Following the transaction, the chief financial officer now directly owns 148,711 shares in the company, valued at approximately $2,935,555.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,310,000 shares of company stock worth $275,809,400. 2.10% of the stock is owned by insiders.

Institutional Trading of Clearwater Analytics

Several hedge funds and other institutional investors have recently bought and sold shares of CWAN. Wasatch Advisors LP raised its position in shares of Clearwater Analytics by 35.6% during the first quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock valued at $289,962,000 after buying an additional 4,304,286 shares during the last quarter. Vanguard Group Inc. increased its stake in Clearwater Analytics by 36.6% during the fourth quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock valued at $258,628,000 after acquiring an additional 3,461,158 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Clearwater Analytics by 65.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock valued at $67,860,000 after acquiring an additional 1,335,802 shares in the last quarter. Capital World Investors lifted its position in shares of Clearwater Analytics by 60.5% in the 4th quarter. Capital World Investors now owns 3,051,500 shares of the company’s stock worth $61,122,000 after acquiring an additional 1,150,538 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Clearwater Analytics during the 3rd quarter worth approximately $19,506,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

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.