Clearwater Analytics (NYSE:CWAN) Given Neutral Rating at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Clearwater Analytics (NYSE:CWAN) in a report issued on Monday, Benzinga reports. They currently have a $23.00 price objective on the stock.

Several other brokerages have also issued reports on CWAN. Wells Fargo & Company boosted their price target on Clearwater Analytics from $22.00 to $23.00 and gave the company an overweight rating in a research note on Thursday, August 1st. Citigroup began coverage on Clearwater Analytics in a research report on Monday, August 19th. They set a buy rating and a $28.00 target price for the company. Finally, Oppenheimer raised Clearwater Analytics from a market perform rating to an outperform rating and set a $25.00 price target on the stock in a research note on Monday, July 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $23.30.

Clearwater Analytics Trading Down 0.8 %

NYSE:CWAN opened at $23.37 on Monday. The company has a market capitalization of $5.74 billion, a P/E ratio of -292.13, a P/E/G ratio of 8.63 and a beta of 0.61. The stock’s 50 day moving average price is $22.14 and its 200 day moving average price is $19.38. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $24.93.

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

Insider Buying and Selling

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $19.50, for a total value of $75,855.00. Following the completion of the transaction, the executive now directly owns 4,844 shares of the company’s stock, valued at approximately $94,458. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Galibier Purchaser, Llc sold 1,784,316 shares of Clearwater Analytics stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $19.50, for a total value of $75,855.00. Following the sale, the executive now directly owns 4,844 shares of the company’s stock, valued at approximately $94,458. The disclosure for this sale can be found here. Insiders have sold a total of 10,878,418 shares of company stock worth $246,862,568 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Clearwater Analytics by 46.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 699,887 shares of the company’s stock worth $14,019,000 after purchasing an additional 221,492 shares during the last quarter. Thornburg Investment Management Inc. raised its stake in Clearwater Analytics by 31.7% in the first quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock valued at $5,860,000 after purchasing an additional 79,707 shares in the last quarter. Swiss National Bank boosted its position in shares of Clearwater Analytics by 37.3% during the 4th quarter. Swiss National Bank now owns 237,500 shares of the company’s stock worth $4,757,000 after acquiring an additional 64,500 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Clearwater Analytics by 22.3% during the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock worth $2,323,000 after buying an additional 23,971 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Clearwater Analytics during the 1st quarter worth $825,000. Institutional investors 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.