Clearwater Analytics (NYSE:CWAN) PT Set at $27.00 by Piper Sandler

Clearwater Analytics (NYSE:CWAN - Get Free Report) has been given a $27.00 price target by equities research analysts at Piper Sandler in a research note issued to investors on Tuesday, June 24th, Marketbeat Ratings reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's target price suggests a potential upside of 21.59% from the stock's previous close.

Several other brokerages have also issued reports on CWAN. Oppenheimer decreased their target price on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research report on Wednesday, June 11th. Wells Fargo & Company decreased their target price on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. assumed coverage on Clearwater Analytics in a research report on Friday, April 25th. They issued an "overweight" rating and a $28.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on Clearwater Analytics in a research report on Monday, May 19th. They issued a "neutral" rating and a $26.00 target price for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Clearwater Analytics currently has an average rating of "Moderate Buy" and an average target price of $31.90.

Clearwater Analytics Trading Up 1.7%

CWAN stock traded up $0.37 during trading on Tuesday, hitting $22.21. 1,681,115 shares of the company traded hands, compared to its average volume of 3,094,542. The firm has a market capitalization of $6.29 billion, a PE ratio of 13.22, a P/E/G ratio of 4.37 and a beta of 0.74. Clearwater Analytics has a 1 year low of $18.75 and a 1 year high of $35.71. The company has a 50-day moving average of $22.72 and a 200-day moving average of $25.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.09 and a current ratio of 5.09.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share 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 return on equity of 5.22% and a net margin of 90.18%. Clearwater Analytics's quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. Analysts predict that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearwater Analytics

In other news, CTO Souvik Das sold 5,273 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $21.67, for a total value of $114,265.91. Following the transaction, the chief technology officer directly owned 142,549 shares in the company, valued at $3,089,036.83. This trade represents a 3.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO James S. Cox sold 5,858 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $21.67, for a total value of $126,942.86. Following the completion of the transaction, the chief financial officer owned 353,964 shares in the company, valued at approximately $7,670,399.88. This trade represents a 1.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,407 shares of company stock worth $4,328,487. Insiders own 3.31% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CWAN. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Clearwater Analytics during the first quarter worth $314,000. Yorktown Management & Research Co Inc acquired a new position in shares of Clearwater Analytics during the first quarter worth $409,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Clearwater Analytics during the fourth quarter worth $8,580,000. Alliancebernstein L.P. increased its position in shares of Clearwater Analytics by 66.0% during the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company's stock worth $202,931,000 after purchasing an additional 2,931,445 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Clearwater Analytics during the fourth quarter worth $1,112,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

Clearwater Analytics Company Profile

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.