Clearwater Analytics (NYSE:CWAN) Rating Increased to Outperform at Oppenheimer

Oppenheimer upgraded shares of Clearwater Analytics (NYSE:CWAN) from a market perform rating to an outperform rating in a research report released on Monday, Marketbeat.com reports. The brokerage currently has $25.00 price objective on the stock.

Several other analysts have also weighed in on CWAN. JPMorgan Chase & Co. lowered their target price on shares of Clearwater Analytics from $22.00 to $20.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company lowered their price objective on Clearwater Analytics from $24.00 to $22.00 and set an overweight rating on the stock in a research note on Thursday, May 2nd. Finally, Morgan Stanley restated an equal weight rating and set a $19.00 target price on shares of Clearwater Analytics in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $22.00.

Clearwater Analytics Trading Up 4.1 %

Shares of CWAN opened at $18.56 on Monday. The stock’s 50-day moving average price is $18.87 and its 200 day moving average price is $18.42. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of -232.00, a P/E/G ratio of 7.46 and a beta of 0.57. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $21.89.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The business had revenue of $102.70 million for the quarter, compared to analysts’ expectations of $100.55 million. During the same period in the previous year, the business posted $0.07 earnings per share. Clearwater Analytics’s quarterly revenue was up 21.4% on a year-over-year basis. As a group, research analysts predict that Clearwater Analytics will post 0.13 earnings per share for the current year.

Insider Activity at Clearwater Analytics

In other news, Director Warburg Pincus Llc sold 7,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $19.71, for a total transaction of $137,970,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Warburg Pincus Llc sold 7,000,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $19.71, for a total transaction of $137,970,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Subi Sethi sold 18,599 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $19.46, for a total value of $361,936.54. Following the completion of the transaction, the insider now owns 77,519 shares in the company, valued at approximately $1,508,519.74. The disclosure for this sale can be found here. Insiders sold 7,193,079 shares of company stock valued at $141,831,984 over the last ninety days. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Clearwater Analytics

Several large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its position in shares of Clearwater Analytics by 65.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock valued at $67,860,000 after acquiring an additional 1,335,802 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Clearwater Analytics by 46.3% during the fourth 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 period. Vanguard Group Inc. increased its holdings in Clearwater Analytics by 13.8% in the third quarter. Vanguard Group Inc. now owns 9,450,888 shares of the company’s stock valued at $182,780,000 after purchasing an additional 1,148,338 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Clearwater Analytics in the third quarter valued at about $2,551,000. Finally, Swiss National Bank lifted its stake in Clearwater Analytics by 37.3% in the fourth quarter. Swiss National Bank now owns 237,500 shares of the company’s stock valued at $4,757,000 after buying an additional 64,500 shares during the period. 50.10% of the stock is currently owned by institutional investors and hedge funds.

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.