Clearwater Analytics Holdings, Inc. (NYSE:CWAN – Get Rating) has received a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $25.00.
Several analysts recently weighed in on CWAN shares. Morgan Stanley lowered their price objective on Clearwater Analytics from $28.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, March 3rd. Zacks Investment Research lowered Clearwater Analytics from a “buy” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group lowered their price objective on Clearwater Analytics from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, March 3rd. Royal Bank of Canada lowered their price objective on Clearwater Analytics from $29.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, March 3rd. Finally, Wells Fargo & Company lowered their price objective on Clearwater Analytics from $28.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, March 3rd.
Shares of CWAN traded up $0.31 during midday trading on Friday, reaching $16.44. 388,097 shares of the company were exchanged, compared to its average volume of 435,053. The stock has a 50-day moving average price of $19.15 and a 200-day moving average price of $19.75. Clearwater Analytics has a 1-year low of $14.51 and a 1-year high of $27.68. The company has a current ratio of 12.03, a quick ratio of 10.30 and a debt-to-equity ratio of 0.18.
In other news, CEO Sandeep Sahai bought 14,700 shares of the business’s stock in a transaction on Tuesday, March 15th. The shares were bought at an average cost of $16.89 per share, with a total value of $248,283.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Durable Capital Partners Lp purchased 4,300 shares of the company’s stock in a transaction dated Thursday, March 3rd. The stock was bought at an average cost of $17.15 per share, for a total transaction of $73,745.00. The disclosure for this purchase can be found here. Insiders have bought a total of 282,586 shares of company stock valued at $4,796,253 in the last quarter.
A number of institutional investors have recently bought and sold shares of the business. Deutsche Bank AG bought a new stake in Clearwater Analytics during the third quarter valued at about $31,000. TD Asset Management Inc. acquired a new stake in shares of Clearwater Analytics during the third quarter worth approximately $536,000. Monashee Investment Management LLC acquired a new stake in shares of Clearwater Analytics during the third quarter worth approximately $2,945,000. Jennison Associates LLC acquired a new stake in shares of Clearwater Analytics in the third quarter valued at approximately $13,943,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Clearwater Analytics in the third quarter valued at approximately $5,122,000. 21.08% of the stock is currently owned by hedge funds and other institutional investors.
About Clearwater Analytics (Get Rating)
Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities. The company offers investment accounting and reporting, performance measurement, compliance monitoring, and risk analytics solutions.
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