Brokerages Set Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Target Price at $32.67

Key Points

• Clearwater Analytics Holdings, Inc. has received a consensus rating of "Moderate Buy" from ten analysts, with nine analysts recommending a buy and one a hold rating.
• The company's stock opened at $19.61, with a 1-year price target average of $32.67 set by analysts.
• Clearwater Analytics has declared a stock repurchase plan allowing the company to buy back $100 million worth of shares, indicating management's belief that the stock is undervalued.

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten research firms that are presently covering the company, Marketbeat reports. One equities 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 analysts that have issued ratings on the stock in the last year is $32.6667.

A number of research analysts have weighed in on CWAN shares. Piper Sandler set a $27.00 price objective on shares of Clearwater Analytics and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Zacks Research upgraded shares of Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. Oppenheimer cut their price objective on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 11th. Royal Bank Of Canada restated an "outperform" rating and issued a $36.00 price target on shares of Clearwater Analytics in a report on Wednesday. Finally, The Goldman Sachs Group upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price target on the stock in a report on Monday, August 11th.

Insider Activity at Clearwater Analytics

In other news, CTO Souvik Das sold 10,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the transaction, the chief technology officer directly owned 132,549 shares in the company, valued at approximately $2,650,980. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $22.50, for a total transaction of $420,750.00. Following the completion of the sale, the chief financial officer directly owned 348,964 shares of the company's stock, valued at $7,851,690. The trade was a 5.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,323 shares of company stock valued at $4,652,514. Company insiders own 3.31% of the company's stock.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds have recently modified their holdings of CWAN. Vanguard Group Inc. lifted its position 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 buying an additional 2,366,715 shares during the last quarter. Wasatch Advisors LP raised its position in shares of Clearwater Analytics by 3.0% in the 2nd quarter. Wasatch Advisors LP now owns 9,567,391 shares of the company's stock valued at $209,813,000 after purchasing an additional 274,664 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Clearwater Analytics by 7.7% in the 1st quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company's stock valued at $171,866,000 after purchasing an additional 458,444 shares during the last quarter. Bamco Inc. NY raised its position in Clearwater Analytics by 12.3% during the 2nd quarter. Bamco Inc. NY now owns 6,094,715 shares of the company's stock worth $133,657,000 after buying an additional 665,823 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Clearwater Analytics by 6.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,774,285 shares of the company's stock worth $126,630,000 after buying an additional 363,720 shares during the last quarter. Hedge funds and other institutional investors own 50.10% of the company's stock.

Clearwater Analytics Price Performance

Shares of CWAN stock traded up $0.15 during mid-day trading on Friday, hitting $19.32. The company had a trading volume of 3,913,322 shares, compared to its average volume of 3,932,410. The company has a market capitalization of $5.65 billion, a P/E ratio of 12.15, a P/E/G ratio of 4.85 and a beta of 0.73. The stock's 50 day moving average price is $20.35 and its 200-day moving average price is $22.66. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02. Clearwater Analytics has a 52-week low of $17.98 and a 52-week high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The firm had revenue of $181.94 million for the quarter, compared to the consensus estimate of $174.16 million. During the same quarter last year, the firm earned $0.10 EPS. The company's revenue was up 70.4% on a year-over-year basis. Equities research analysts forecast that Clearwater Analytics will post 0.18 earnings per share for the current year.

Clearwater Analytics declared that its board has approved a share buyback program on Wednesday, September 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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.