Clearwater Analytics (NYSE:CWAN) Price Target Lowered to $30.00 at Royal Bank of Canada

Clearwater Analytics (NYSE:CWAN) had its price target lowered by equities researchers at Royal Bank of Canada from $36.00 to $30.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 14.85% from the company’s current price.

CWAN has been the topic of several other reports. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $35.00 to $32.00 in a research report on Tuesday. The Goldman Sachs Group raised their price target on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Piper Sandler upped their price objective on Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted their target price on Clearwater Analytics from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $23.00 to $33.00 in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.89.

Clearwater Analytics Stock Performance

Clearwater Analytics stock traded up $0.22 during midday trading on Tuesday, hitting $26.12. The stock had a trading volume of 390,879 shares, compared to its average volume of 1,944,217. 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 has a 52-week low of $15.62 and a 52-week high of $35.71. The company has a market capitalization of $6.45 billion, a PE ratio of 2,614.61, a P/E/G ratio of 10.56 and a beta of 0.72. The firm’s fifty day moving average is $29.35 and its two-hundred day moving average is $25.50.

Insider Transactions at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $30.34, for a total transaction of $567,358.00. Following the transaction, the chief financial officer now owns 219,044 shares of the company’s stock, valued at approximately $6,645,794.96. The trade was a 7.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $31.34, for a total value of $121,912.60. Following the sale, the executive now owns 6,373 shares in the company, valued at $199,729.82. The trade was a 37.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,352 shares of company stock valued at $5,384,446 in the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP grew its position in Clearwater Analytics by 3.2% in the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock valued at $457,909,000 after acquiring an additional 559,564 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Clearwater Analytics by 1.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock valued at $210,659,000 after purchasing an additional 128,402 shares during the period. Conestoga Capital Advisors LLC grew its holdings in shares of Clearwater Analytics by 1.6% in the third quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company’s stock worth $171,156,000 after purchasing an additional 107,210 shares during the last quarter. State Street Corp increased its stake in Clearwater Analytics by 38.7% in the 3rd quarter. State Street Corp now owns 3,617,462 shares of the company’s stock worth $91,341,000 after buying an additional 1,009,548 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Clearwater Analytics by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,512,511 shares of the company’s stock valued at $88,710,000 after buying an additional 187,881 shares in the last quarter. 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.