Clearwater Analytics (NYSE:CWAN) Rating Reiterated by Piper Sandler

Clearwater Analytics (NYSE:CWAN)‘s stock had its “neutral” rating reissued by equities research analysts at Piper Sandler in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $23.00 price objective on the stock. Piper Sandler’s price target suggests a potential downside of 3.40% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Wells Fargo & Company raised their price target on Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Citigroup started coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, Oppenheimer upgraded shares of Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research report on Monday, July 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.30.

Clearwater Analytics Price Performance

NYSE:CWAN opened at $23.81 on Monday. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $24.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78. The firm’s 50-day simple moving average is $21.72 and its 200 day simple moving average is $19.26. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of -297.63, a P/E/G ratio of 8.63 and a beta of 0.61.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $106.79 million for the quarter, compared to analysts’ expectations of $105.51 million. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. As a group, sell-side analysts predict that Clearwater Analytics will post 0.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $24.18, for a total value of $43,144,760.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Warburg Pincus Llc sold 9,000,000 shares of Clearwater Analytics stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $22.41, for a total transaction of $201,690,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Galibier Purchaser, Llc sold 1,784,316 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $24.18, for a total transaction of $43,144,760.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,924,528 shares of company stock valued at $385,738,181. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Clearwater Analytics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its stake in shares of Clearwater Analytics by 268.8% in the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after buying an additional 1,234 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Clearwater Analytics by 389.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock valued at $34,000 after acquiring an additional 1,549 shares during the last quarter. Eagle Bay Advisors LLC increased its position in Clearwater Analytics by 213.3% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock valued at $36,000 after purchasing an additional 1,207 shares during the period. Essex Investment Management Co. LLC acquired a new position in shares of Clearwater Analytics in the 4th quarter worth approximately $90,000. Finally, Amalgamated Bank acquired a new position in shares of Clearwater Analytics in the 2nd quarter worth approximately $90,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

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.