Piper Sandler Upgrades Clearwater Analytics (NYSE:CWAN) to Overweight

Clearwater Analytics (NYSE:CWAN) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $36.00 price objective on the stock, up from their previous price objective of $28.00. Piper Sandler’s target price suggests a potential upside of 33.09% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. The Goldman Sachs Group boosted their target price on Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $23.00 to $33.00 in a research report on Thursday, November 7th. Morgan Stanley upgraded Clearwater Analytics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $30.00 to $34.00 in a research report on Friday, January 17th. Oppenheimer boosted their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada lowered their price objective on Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.22.

Clearwater Analytics Stock Down 2.1 %

CWAN stock opened at $27.05 on Thursday. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $6.68 billion, a PE ratio of 2,707.61, a PEG ratio of 7.39 and a beta of 0.72. Clearwater Analytics has a twelve month low of $15.62 and a twelve month high of $35.71. The stock has a 50-day simple moving average of $28.00 and a two-hundred day simple moving average of $27.04.

Clearwater Analytics (NYSE:CWAN) last posted its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a net margin of 0.21% and a return on equity of 5.68%. On average, equities analysts predict that Clearwater Analytics will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sandeep Sahai sold 139,172 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $28.94, for a total value of $4,027,637.68. Following the sale, the chief executive officer now directly owns 441,724 shares of the company’s stock, valued at approximately $12,783,492.56. This represents a 23.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $29.65, for a total value of $554,455.00. Following the completion of the sale, the chief financial officer now directly owns 214,044 shares in the company, valued at approximately $6,346,404.60. This represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 299,162 shares of company stock valued at $8,386,024 over the last ninety days. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

A number of institutional investors have recently modified their holdings of CWAN. GAMMA Investing LLC lifted its holdings in shares of Clearwater Analytics by 57.4% during 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. bought a new position in Clearwater Analytics in the third quarter valued at about $45,000. Arcadia Investment Management Corp MI bought a new position in Clearwater Analytics in the fourth quarter valued at about $57,000. Financial Management Professionals Inc. bought a new position in Clearwater Analytics in the third quarter valued at about $58,000. Finally, R Squared Ltd bought a new position in Clearwater Analytics in the fourth quarter valued at about $80,000. 50.10% of the stock is owned by hedge funds and other institutional investors.

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.