Wells Fargo & Company Lowers Clearwater Analytics (NYSE:CWAN) Price Target to $22.00

Clearwater Analytics (NYSE:CWANGet Rating) had its target price dropped by stock analysts at Wells Fargo & Company from $23.00 to $22.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 64.30% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Clearwater Analytics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Credit Suisse Group lowered their target price on shares of Clearwater Analytics from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, March 3rd. Royal Bank of Canada lowered their target price on shares of Clearwater Analytics from $29.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, March 3rd. Finally, Morgan Stanley lowered their target price on shares of Clearwater Analytics from $28.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 3rd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $24.30.

Shares of NYSE:CWAN traded down $0.02 during midday trading on Tuesday, hitting $13.39. 5,880 shares of the stock were exchanged, compared to its average volume of 464,615. The company has a debt-to-equity ratio of 0.18, a current ratio of 12.03 and a quick ratio of 12.03. Clearwater Analytics has a 52-week low of $13.29 and a 52-week high of $27.68. The business’s fifty day simple moving average is $17.64 and its two-hundred day simple moving average is $18.88.

Clearwater Analytics (NYSE:CWANGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $70.78 million for the quarter, compared to analysts’ expectations of $70.02 million. As a group, sell-side analysts predict that Clearwater Analytics will post -0.03 earnings per share for the current fiscal year.

In other news, major shareholder Durable Capital Partners Lp bought 247,529 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The shares were acquired at an average cost of $16.95 per share, with a total value of $4,195,616.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Morris Kochansky bought 2,201 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The shares were purchased at an average cost of $11.99 per share, for a total transaction of $26,389.99. Following the completion of the transaction, the insider now owns 3,976 shares of the company’s stock, valued at $47,672.24. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 269,583 shares of company stock worth $4,533,465.

A number of hedge funds have recently added to or reduced their stakes in CWAN. Deutsche Bank AG bought a new position in Clearwater Analytics during the third quarter worth about $31,000. Royal Bank of Canada bought a new position in Clearwater Analytics during the third quarter worth about $38,000. Captrust Financial Advisors bought a new position in Clearwater Analytics during the third quarter worth about $50,000. Steward Partners Investment Advisory LLC bought a new position in Clearwater Analytics during the fourth quarter worth about $56,000. Finally, Advisor Group Holdings Inc. lifted its stake in Clearwater Analytics by 5,694.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 5,794 shares of the company’s stock worth $133,000 after purchasing an additional 5,694 shares during the period. 21.08% of the stock is currently owned by institutional investors and hedge funds.

About Clearwater Analytics (Get Rating)

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities. The company offers investment accounting and reporting, performance measurement, compliance monitoring, and risk analytics solutions.

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