Piper Sandler Reiterates Neutral Rating for Clearwater Analytics (NYSE:CWAN)

Clearwater Analytics (NYSE:CWAN)‘s stock had its “neutral” rating reiterated by equities researchers at Piper Sandler in a research note issued to investors on Thursday, Benzinga reports. They currently have a $20.00 price objective on the stock. Piper Sandler’s target price points to a potential upside of 8.02% from the stock’s current price.

Several other equities analysts also recently weighed in on the stock. Credit Suisse Group raised their target price on shares of Clearwater Analytics from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, September 8th. Morgan Stanley raised their target price on shares of Clearwater Analytics from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Loop Capital upgraded Clearwater Analytics from a “hold” rating to a “buy” rating and upped their target price for the company from $20.00 to $25.00 in a research note on Monday, September 25th. The Goldman Sachs Group upped their price objective on shares of Clearwater Analytics from $14.00 to $16.00 and gave the company a “sell” rating in a research note on Thursday, August 3rd. Finally, DA Davidson increased their price target on shares of Clearwater Analytics from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.65.

Clearwater Analytics Stock Down 0.5 %

CWAN stock opened at $18.52 on Thursday. Clearwater Analytics has a one year low of $13.02 and a one year high of $20.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.29 and a current ratio of 6.29. The company has a fifty day moving average of $19.12 and a 200-day moving average of $17.21. The stock has a market capitalization of $4.48 billion, a PE ratio of -168.32 and a beta of 0.39.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $89.88 million during the quarter, compared to the consensus estimate of $87.59 million. Clearwater Analytics had a negative net margin of 5.71% and a positive return on equity of 0.08%. As a group, analysts expect that Clearwater Analytics will post -0.05 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $19.14, for a total value of $957,000.00. Following the completion of the transaction, the chief executive officer now directly owns 34,450 shares of the company’s stock, valued at approximately $659,373. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO James S. Cox sold 10,000 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $19.14, for a total value of $191,400.00. Following the completion of the sale, the chief financial officer now directly owns 77,372 shares of the company’s stock, valued at approximately $1,480,900.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $19.14, for a total transaction of $957,000.00. Following the transaction, the chief executive officer now directly owns 34,450 shares in the company, valued at $659,373. The disclosure for this sale can be found here. Insiders have sold a total of 176,284 shares of company stock worth $3,354,140 over the last quarter. 2.10% of the stock is owned by company insiders.

Institutional Trading of Clearwater Analytics

A number of institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. bought a new position in shares of Clearwater Analytics in the 3rd quarter valued at approximately $2,022,000. Conestoga Capital Advisors LLC grew its holdings in shares of Clearwater Analytics by 2.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 6,376,562 shares of the company’s stock worth $123,323,000 after purchasing an additional 166,745 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Clearwater Analytics by 14.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,052,126 shares of the company’s stock worth $39,688,000 after acquiring an additional 257,515 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Clearwater Analytics by 45.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,913 shares of the company’s stock valued at $366,000 after purchasing an additional 5,893 shares during the last quarter. Finally, Brown Advisory Inc. acquired a new stake in shares of Clearwater Analytics during the third quarter worth approximately $8,112,000. Institutional investors and hedge funds 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.