Clearwater Analytics (NYSE:CWAN) Upgraded at Piper Sandler

Clearwater Analytics (NYSE:CWAN) was upgraded by analysts at Piper Sandler to an “overweight” rating in a research report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a $27.00 target price on the stock. Piper Sandler’s price target indicates a potential upside of 20.72% from the stock’s current price.

Several other equities analysts have also weighed in on CWAN. JPMorgan Chase & Co. initiated coverage on shares of Clearwater Analytics in a research report on Friday, April 25th. They set an “overweight” rating and a $28.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of Clearwater Analytics in a research report on Monday, May 19th. They set a “neutral” rating and a $26.00 price target for the company. 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 research report on Tuesday, April 22nd. Finally, Oppenheimer reduced their price target on shares of Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.90.

Clearwater Analytics Price Performance

Shares of NYSE:CWAN opened at $22.37 on Tuesday. The firm has a 50 day moving average of $22.84 and a 200-day moving average of $25.92. The stock has a market capitalization of $6.34 billion, a PE ratio of 13.31, a PEG ratio of 4.22 and a beta of 0.77. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 0.04. Clearwater Analytics has a 12 month low of $17.63 and a 12 month high of $35.71.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. Clearwater Analytics had a net margin of 90.18% and a return on equity of 5.22%. The company had revenue of $126.86 million for the quarter, compared to analyst estimates of $125.11 million. During the same period in the previous year, the firm posted $0.10 EPS. The firm’s revenue was up 23.5% on a year-over-year basis. On average, equities research analysts predict that Clearwater Analytics will post 0.18 EPS for the current fiscal year.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, Director Kathleen A. Corbet sold 12,634 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total transaction of $298,920.44. Following the transaction, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $343,022.68. This trade represents a 46.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $23.09, for a total transaction of $1,154,500.00. Following the completion of the transaction, the chief executive officer now owns 876,754 shares in the company, valued at $20,244,249.86. This represents a 5.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 200,034 shares of company stock valued at $4,629,774 over the last three months. 3.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CWAN. Vanguard Group Inc. boosted its holdings in Clearwater Analytics by 11.3% in the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock valued at $623,001,000 after acquiring an additional 2,366,715 shares in the last quarter. Alliancebernstein L.P. raised its stake in Clearwater Analytics by 66.0% during the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after buying an additional 2,931,445 shares during the last quarter. Wellington Management Group LLP raised its stake in Clearwater Analytics by 7.7% during the first quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company’s stock valued at $171,866,000 after buying an additional 458,444 shares during the last quarter. Invesco Ltd. raised its stake in Clearwater Analytics by 34.1% during the first quarter. Invesco Ltd. now owns 5,706,337 shares of the company’s stock valued at $152,930,000 after buying an additional 1,452,474 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Clearwater Analytics by 52.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company’s stock valued at $126,972,000 after buying an additional 1,585,869 shares during the last quarter. 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.