Clearwater Analytics (NYSE:CWAN) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Clearwater Analytics (NYSE:CWAN) in a research note published on Monday. The brokerage issued a neutral rating and a $26.00 price objective on the stock.

A number of other analysts also recently weighed in on the stock. UBS Group increased their price target on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Piper Sandler reduced their price target on shares of Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Wells Fargo & Company reduced their price target on shares of Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Morgan Stanley reissued an “overweight” rating and issued a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. initiated coverage on shares of Clearwater Analytics in a report on Friday, April 25th. They set an “overweight” rating and a $28.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.40.

Clearwater Analytics Price Performance

NYSE CWAN opened at $23.51 on Monday. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $24.23 and a 200 day simple moving average of $27.32. The company has a market cap of $6.66 billion, a P/E ratio of 14.16, a P/E/G ratio of 8.23 and a beta of 0.79. Clearwater Analytics has a 1 year low of $17.63 and a 1 year high of $35.71.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $126.86 million during the quarter, compared to the consensus estimate of $125.11 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. Clearwater Analytics’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. On average, sell-side analysts predict that Clearwater Analytics will post 0.18 EPS for the current year.

Insider Transactions at Clearwater Analytics

In related news, insider Subi Sethi sold 62,482 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the completion of the sale, the insider now owns 144,973 shares in the company, valued at $4,359,338.11. This trade represents a 30.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $24.29, for a total transaction of $1,214,500.00. Following the sale, the chief executive officer now owns 876,754 shares of the company’s stock, valued at $21,296,354.66. This trade represents a 5.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 625,810 shares of company stock valued at $17,800,292. Company insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

A number of hedge funds have recently made changes to their positions in the company. Apollon Wealth Management LLC increased its position in Clearwater Analytics by 3.9% in the 1st quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company’s stock valued at $331,000 after acquiring an additional 459 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Clearwater Analytics by 3.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company’s stock valued at $469,000 after acquiring an additional 502 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Clearwater Analytics by 11.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company’s stock valued at $142,000 after acquiring an additional 521 shares in the last quarter. Huntleigh Advisors Inc. increased its position in Clearwater Analytics by 1.9% in the 1st quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company’s stock valued at $863,000 after acquiring an additional 595 shares in the last quarter. Finally, Redwood Investments LLC increased its position in Clearwater Analytics by 0.8% in the 1st quarter. Redwood Investments LLC now owns 74,651 shares of the company’s stock valued at $2,001,000 after acquiring an additional 608 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

About Clearwater Analytics

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.