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

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One investment 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 updated their coverage on the stock in the last year is $31.90.

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

Insider Buying and Selling at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 50,000 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $23.09, for a total value of $1,154,500.00. Following the sale, the chief executive officer now owns 876,754 shares of the company's stock, valued at $20,244,249.86. The trade was a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $23.17, for a total transaction of $433,279.00. Following the completion of the transaction, the chief financial officer now directly owns 358,885 shares of the company's stock, valued at approximately $8,315,365.45. This trade represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 200,034 shares of company stock valued at $4,629,774. Company insiders own 3.31% of the company's stock.

Hedge Funds Weigh In On Clearwater Analytics

Hedge funds have recently made changes to their positions in the stock. Nvwm LLC bought a new stake in shares of Clearwater Analytics during the 1st quarter valued at $46,000. Quarry LP grew its holdings in Clearwater Analytics by 979.4% during the 1st quarter. Quarry LP now owns 2,094 shares of the company's stock valued at $56,000 after buying an additional 1,900 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Clearwater Analytics during the 4th quarter valued at about $82,000. CWM LLC increased its position in shares of Clearwater Analytics by 714.6% during the first quarter. CWM LLC now owns 3,071 shares of the company's stock valued at $82,000 after buying an additional 2,694 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in shares of Clearwater Analytics in the fourth quarter worth about $88,000. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Analytics Stock Performance

Shares of CWAN stock opened at $22.01 on Monday. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $22.78 and a two-hundred day simple moving average of $25.74. Clearwater Analytics has a 12 month low of $17.63 and a 12 month high of $35.71. The firm has a market capitalization of $6.24 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 4.40 and a beta of 0.77.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. Clearwater Analytics had a net margin of 90.18% and a return on equity of 5.22%. The firm had revenue of $126.86 million during the quarter, compared to analysts' expectations of $125.11 million. During the same period last year, the company earned $0.10 earnings per share. The business's revenue was up 23.5% on a year-over-year basis. Analysts forecast that Clearwater Analytics will post 0.18 EPS for the current fiscal 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.

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