Royal Bank of Canada Forecasts Strong Price Appreciation for Clearwater Analytics (NYSE:CWAN) Stock

Clearwater Analytics (NYSE:CWAN) had its price target boosted by equities research analysts at Royal Bank of Canada from $32.00 to $36.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 14.25% from the company’s current price.

CWAN has been the subject of a number of other reports. DA Davidson lowered Clearwater Analytics from a “buy” rating to a “neutral” rating and lifted their target price for the company from $31.00 to $35.00 in a research report on Friday, November 8th. Oppenheimer boosted their price target on Clearwater Analytics from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Piper Sandler boosted their price target on Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price target on Clearwater Analytics from $23.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $23.00 to $33.00 in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Clearwater Analytics presently has an average rating of “Hold” and a consensus price target of $31.11.

Clearwater Analytics Trading Down 0.8 %

CWAN traded down $0.24 during trading hours on Friday, reaching $31.51. 202,762 shares of the company’s stock traded hands, compared to its average volume of 1,593,312. The firm has a 50-day moving average price of $26.82 and a 200 day moving average price of $22.78. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.71. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $7.78 billion, a PE ratio of 3,154.15, a PEG ratio of 11.01 and a beta of 0.61.

Insider Buying and Selling at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $24.44, for a total value of $457,028.00. Following the sale, the chief financial officer now owns 227,503 shares in the company, valued at $5,560,173.32. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total value of $92,387.50. Following the completion of the sale, the executive now owns 4,844 shares in the company, valued at $115,045. The trade was a 44.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,852,086 shares of company stock worth $44,971,367. 3.25% of the stock is currently owned by insiders.

Institutional Trading of Clearwater Analytics

A number of hedge funds have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Clearwater Analytics by 43.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 62,178 shares of the company’s stock worth $1,570,000 after buying an additional 18,712 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Clearwater Analytics by 5.7% in the third quarter. Geode Capital Management LLC now owns 3,512,511 shares of the company’s stock worth $88,710,000 after buying an additional 187,881 shares during the last quarter. Bullseye Asset Management LLC boosted its stake in shares of Clearwater Analytics by 46.1% in the third quarter. Bullseye Asset Management LLC now owns 111,000 shares of the company’s stock worth $2,803,000 after buying an additional 35,000 shares during the last quarter. Barclays PLC raised its holdings in Clearwater Analytics by 105.6% in the 3rd quarter. Barclays PLC now owns 571,860 shares of the company’s stock worth $14,439,000 after purchasing an additional 293,719 shares during the period. Finally, Orion Portfolio Solutions LLC acquired a new position in Clearwater Analytics in the 3rd quarter worth about $346,000. 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.