Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) have earned an average rating of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $21.70.

A number of research analysts have recently commented on CWAN shares. Piper Sandler restated a “neutral” rating and issued a $20.00 price target on shares of Clearwater Analytics in a report on Thursday, February 29th. JPMorgan Chase & Co. dropped their target price on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company decreased their price target on shares of Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. DA Davidson reissued a “buy” rating and issued a $24.00 price objective on shares of Clearwater Analytics in a research note on Monday, February 5th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $19.00 target price on shares of Clearwater Analytics in a report on Thursday, May 2nd.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 10,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 148,711 shares of the company’s stock, valued at $2,935,555.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the firm’s stock in a transaction 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 at this hyperlink. Also, CFO James S. Cox sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $19.74, for a total value of $197,400.00. Following the transaction, the chief financial officer now directly owns 148,711 shares in the company, valued at $2,935,555.14. The disclosure for this sale can be found here. Insiders have sold a total of 16,310,000 shares of company stock valued at $275,809,400 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clearwater Analytics

A number of large investors have recently modified their holdings of the business. Wasatch Advisors LP grew its position in Clearwater Analytics by 35.6% during the 1st quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after purchasing an additional 4,304,286 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 buying an additional 3,461,158 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of Clearwater Analytics by 1.2% during the first quarter. Conestoga Capital Advisors LLC now owns 6,506,247 shares of the company’s stock valued at $115,096,000 after buying an additional 79,880 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Clearwater Analytics by 0.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,933,075 shares of the company’s stock worth $114,746,000 after acquiring an additional 30,771 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Clearwater Analytics by 28.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,359,848 shares of the company’s stock worth $77,126,000 after acquiring an additional 971,920 shares during the period. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Stock Performance

Clearwater Analytics stock opened at $17.65 on Wednesday. Clearwater Analytics has a 1-year low of $14.43 and a 1-year high of $21.89. The company’s 50-day moving average is $16.92 and its 200 day moving average is $18.64. The firm has a market capitalization of $4.32 billion, a P/E ratio of -220.63, a price-to-earnings-growth ratio of 7.85 and a beta of 0.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.59 and a quick ratio of 5.59.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $102.70 million during the quarter, compared to analyst estimates of $100.55 million. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. Clearwater Analytics’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the company earned $0.07 EPS. Research analysts forecast that Clearwater Analytics will post 0.11 EPS for the current year.

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.