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

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

Other analysts have also issued reports about the stock. DA Davidson reissued a buy rating and set a $24.00 target price on shares of Clearwater Analytics in a research note on Monday, February 5th. Piper Sandler reissued a neutral rating and set a $20.00 target price on shares of Clearwater Analytics in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. lowered shares of Clearwater Analytics from an overweight rating to a neutral rating and lowered their target price for the company from $24.00 to $22.00 in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $21.70.

Clearwater Analytics Trading Up 2.9 %

CWAN stock opened at $17.67 on Thursday. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.11. Clearwater Analytics has a twelve month low of $13.02 and a twelve month high of $21.89. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of -220.88, a price-to-earnings-growth ratio of 7.01 and a beta of 0.50. The firm’s fifty day simple moving average is $17.01 and its two-hundred day simple moving average is $18.66.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.26%. The business had revenue of $102.70 million for the quarter, compared to analysts’ expectations of $100.55 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. The business’s revenue was up 21.4% compared to the same quarter last year. As a group, analysts anticipate that Clearwater Analytics will post 0.11 earnings per share for the current year.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $16.90, for a total transaction of $274,625,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $16.90, for a total transaction of $274,625,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the chief financial officer now directly owns 148,711 shares of the company’s stock, valued at $2,935,555.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,310,000 shares of company stock valued at $275,809,400. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clearwater Analytics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP raised its position in shares of Clearwater Analytics by 35.6% in the 1st quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock valued at $289,962,000 after purchasing an additional 4,304,286 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Clearwater Analytics by 36.6% in the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock valued at $258,628,000 after purchasing an additional 3,461,158 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Clearwater Analytics by 1.2% in the 1st quarter. Conestoga Capital Advisors LLC now owns 6,506,247 shares of the company’s stock valued at $115,096,000 after purchasing an additional 79,880 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of 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 valued at $114,746,000 after purchasing an additional 30,771 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Clearwater Analytics by 28.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,359,848 shares of the company’s stock valued at $77,126,000 after purchasing an additional 971,920 shares during the last quarter. 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.