Clearwater Analytics (NYSE:CWAN) Research Coverage Started at Citigroup

Citigroup started coverage on shares of Clearwater Analytics (NYSE:CWAN) in a research report sent to investors on Monday morning, MarketBeat reports. The firm issued a buy rating and a $28.00 price objective on the stock.

A number of other brokerages have also weighed in on CWAN. Piper Sandler raised their price objective on Clearwater Analytics from $20.00 to $23.00 and gave the company a neutral rating in a report on Thursday, August 1st. Morgan Stanley restated an equal weight rating and set a $19.00 price target on shares of Clearwater Analytics in a research report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Clearwater Analytics from $22.00 to $20.00 and set a neutral rating for the company in a research note on Thursday, May 2nd. Oppenheimer raised shares of Clearwater Analytics from a market perform rating to an outperform rating and set a $25.00 target price on the stock in a research note on Monday, July 8th. Finally, Wells Fargo & Company boosted their target price on Clearwater Analytics from $22.00 to $23.00 and gave the stock an overweight rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $23.45.

Clearwater Analytics Stock Down 1.4 %

CWAN opened at $24.32 on Monday. The company has a market cap of $5.97 billion, a PE ratio of -303.94, a price-to-earnings-growth ratio of 9.19 and a beta of 0.57. Clearwater Analytics has a twelve month low of $15.62 and a twelve month high of $24.88. The company has a 50-day moving average price of $20.51 and a 200 day moving average price of $18.89. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.11.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $106.79 million during the quarter, compared to analysts’ expectations of $105.51 million. Clearwater Analytics had a positive return on equity of 3.61% and a negative net margin of 1.14%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. Sell-side analysts expect that Clearwater Analytics will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearwater Analytics

In related news, insider Subi Sethi sold 21,497 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $24.30, for a total transaction of $522,377.10. Following the completion of the sale, the insider now directly owns 81,812 shares of the company’s stock, valued at approximately $1,988,031.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO James S. Cox sold 13,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $23.64, for a total value of $323,868.00. Following the completion of the transaction, the chief financial officer now owns 232,503 shares of the company’s stock, valued at $5,496,370.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Subi Sethi sold 21,497 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $24.30, for a total transaction of $522,377.10. Following the completion of the transaction, the insider now directly owns 81,812 shares of the company’s stock, valued at approximately $1,988,031.60. The disclosure for this sale can be found here. Insiders have sold 16,264,691 shares of company stock worth $345,095,448 over the last quarter. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clearwater Analytics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Clearwater Analytics by 13.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,424 shares of the company’s stock worth $429,000 after purchasing an additional 2,511 shares in the last quarter. Truist Financial Corp purchased a new stake in shares of Clearwater Analytics in the fourth quarter valued at about $390,000. Russell Investments Group Ltd. increased its position in Clearwater Analytics by 25.8% in the 4th quarter. Russell Investments Group Ltd. now owns 111,671 shares of the company’s stock valued at $2,237,000 after acquiring an additional 22,873 shares during the period. Victory Capital Management Inc. purchased a new stake in Clearwater Analytics during the 4th quarter valued at approximately $288,000. Finally, Swiss National Bank raised its stake in shares of Clearwater Analytics by 37.3% during the fourth quarter. Swiss National Bank now owns 237,500 shares of the company’s stock worth $4,757,000 after purchasing an additional 64,500 shares during the last quarter. 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.