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

Key Points

• Clearwater Analytics Holdings, Inc. has received a consensus rating of “Moderate Buy” from ten research firms, with an average price target of $31.90.
• The company's recent quarterly earnings reported $0.13 earnings per share, surpassing the consensus estimate, and revenue increased by 23.5% year-over-year.
• Insider trading activity showed significant sales, with directors selling over 258,000 shares in the last quarter, indicating notable shifts in ownership.

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) have earned an average rating of "Moderate Buy" from the ten research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $31.90.

Several brokerages have commented on CWAN. JPMorgan Chase & Co. initiated coverage on shares of Clearwater Analytics in a research report on Friday, April 25th. They set an "overweight" rating and a $28.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Clearwater Analytics in a report on Monday, May 19th. They issued a "neutral" rating and a $26.00 price target for the company. Piper Sandler set a $27.00 target price on shares of Clearwater Analytics and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. Wells Fargo & Company reduced their target price on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Oppenheimer reduced their price objective on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, June 11th.

Insider Buying and Selling at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $22.15, for a total transaction of $1,107,500.00. Following the transaction, the chief executive officer directly owned 895,663 shares of the company's stock, valued at approximately $19,838,935.45. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen A. Corbet sold 12,634 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $23.66, for a total transaction of $298,920.44. Following the transaction, the director directly owned 14,498 shares in the company, valued at $343,022.68. This represents a 46.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,107 shares of company stock valued at $5,844,208 over the last ninety days. Company insiders own 3.31% of the company's stock.

Institutional Trading of Clearwater Analytics

A number of hedge funds have recently added to or reduced their stakes in CWAN. Vanguard Group Inc. raised its stake in shares of Clearwater Analytics by 11.3% during the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock valued at $623,001,000 after acquiring an additional 2,366,715 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Clearwater Analytics by 66.0% in the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company's stock valued at $202,931,000 after buying an additional 2,931,445 shares during the period. Wellington Management Group LLP lifted its holdings in Clearwater Analytics by 7.7% in the first quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company's stock valued at $171,866,000 after buying an additional 458,444 shares during the period. Invesco Ltd. increased its stake in Clearwater Analytics by 34.1% in the first quarter. Invesco Ltd. now owns 5,706,337 shares of the company's stock valued at $152,930,000 after purchasing an additional 1,452,474 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Clearwater Analytics by 52.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company's stock valued at $126,972,000 after purchasing an additional 1,585,869 shares during the period. Institutional investors and hedge funds own 50.10% of the company's stock.

Clearwater Analytics Price Performance

Shares of NYSE:CWAN traded up $0.33 during trading on Friday, reaching $21.65. The stock had a trading volume of 797,834 shares, compared to its average volume of 3,146,723. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.09 and a quick ratio of 5.09. The business's 50-day moving average price is $22.32 and its 200 day moving average price is $24.88. Clearwater Analytics has a 52 week low of $19.46 and a 52 week high of $35.71. The stock has a market capitalization of $6.13 billion, a PE ratio of 12.88, a P/E/G ratio of 4.26 and a beta of 0.74.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $126.86 million during the quarter, compared to analysts' expectations of $125.11 million. Clearwater Analytics had a net margin of 90.18% and a return on equity of 5.22%. The business's revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. As a group, equities analysts predict that Clearwater Analytics will post 0.18 earnings per share 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.