Clearwater Analytics (NYSE:CWAN) Upgraded by Piper Sandler to “Overweight” Rating

Piper Sandler upgraded shares of Clearwater Analytics (NYSE:CWAN) from a neutral rating to an overweight rating in a research report released on Thursday, MarketBeat.com reports. The firm currently has $36.00 price objective on the stock, up from their prior price objective of $28.00.

Other analysts also recently issued reports about the stock. Wells Fargo & Company increased their price target on shares of Clearwater Analytics from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and cut their target price for the stock from $35.00 to $32.00 in a report on Tuesday, January 14th. Morgan Stanley raised shares of Clearwater Analytics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $30.00 to $34.00 in a research report on Friday, January 17th. Royal Bank of Canada lowered their price objective on shares of Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group lifted their target price on Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.60.

Clearwater Analytics Price Performance

CWAN opened at $29.79 on Thursday. The company has a fifty day moving average price of $27.99 and a two-hundred day moving average price of $27.05. The firm has a market capitalization of $7.36 billion, a PE ratio of 2,982.28, a P/E/G ratio of 7.59 and a beta of 0.72. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $35.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a return on equity of 5.68% and a net margin of 0.21%. The company had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. As a group, analysts anticipate that Clearwater Analytics will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $25.89, for a total value of $1,294,500.00. Following the sale, the chief executive officer now directly owns 615,855 shares in the company, valued at $15,944,485.95. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $29.07, for a total value of $113,082.30. Following the transaction, the executive now owns 6,373 shares of the company’s stock, valued at approximately $185,263.11. The trade was a 37.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 299,162 shares of company stock valued at $8,386,024. Company insiders own 4.60% of the company’s stock.

Institutional Trading of Clearwater Analytics

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after purchasing an additional 468 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Clearwater Analytics during the 3rd quarter worth about $45,000. Arcadia Investment Management Corp MI bought a new position in shares of Clearwater Analytics in the 4th quarter valued at about $57,000. Financial Management Professionals Inc. bought a new position in shares of Clearwater Analytics in the 3rd quarter valued at about $58,000. Finally, R Squared Ltd acquired a new stake in shares of Clearwater Analytics in the fourth quarter valued at about $80,000. 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.