Wells Fargo & Company Has Lowered Expectations for Clearwater Analytics (NYSE:CWAN) Stock Price

Clearwater Analytics (NYSE:CWAN - Get Free Report) had its target price decreased by Wells Fargo & Company from $35.00 to $32.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 40.38% from the company's previous close.

Other analysts have also recently issued research reports about the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. DA Davidson upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. UBS Group raised their target price on Clearwater Analytics from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Royal Bank of Canada lifted their target price on Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Piper Sandler raised Clearwater Analytics from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $28.00 to $36.00 in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $32.80.

Clearwater Analytics Stock Performance

NYSE CWAN traded up $0.05 during trading hours on Tuesday, reaching $22.80. The company's stock had a trading volume of 2,571,131 shares, compared to its average volume of 2,163,793. The stock has a market cap of $5.72 billion, a PE ratio of 13.73, a PEG ratio of 8.23 and a beta of 0.76. The business has a 50-day simple moving average of $26.20 and a 200 day simple moving average of $27.66. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $35.71. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The company had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. Equities research analysts predict that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

Insider Activity

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $27.33, for a total value of $511,071.00. Following the transaction, the chief financial officer now owns 274,857 shares in the company, valued at approximately $7,511,841.81. The trade was a 6.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Scott Stanley Erickson sold 4,141 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $27.65, for a total value of $114,498.65. Following the completion of the transaction, the executive now directly owns 7,902 shares in the company, valued at $218,490.30. This represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 644,510 shares of company stock worth $18,478,363 over the last 90 days. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in shares of Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock valued at $35,000 after purchasing an additional 468 shares during the period. Arcadia Investment Management Corp MI acquired a new position in shares of Clearwater Analytics in the fourth quarter worth about $57,000. R Squared Ltd purchased a new position in shares of Clearwater Analytics in the fourth quarter worth approximately $80,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Clearwater Analytics during the fourth quarter valued at approximately $82,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Clearwater Analytics by 174.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company's stock valued at $86,000 after acquiring an additional 1,987 shares during the period. 50.10% of the stock is currently owned by institutional investors and hedge funds.

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.