Clearwater Analytics (NYSE:CWAN) Upgraded to Overweight at Piper Sandler

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

Other research analysts have also recently issued reports about the company. Wells Fargo & Company raised their target price on Clearwater Analytics from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Morgan Stanley raised shares of Clearwater Analytics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $30.00 to $34.00 in a report on Friday, January 17th. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $23.00 to $33.00 in a research note on Thursday, November 7th. Royal Bank of Canada dropped their price target 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, DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $35.00 to $32.00 in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and an average price target of $33.60.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $29.79 on Thursday. The firm’s 50-day moving average is $27.99 and its 200-day moving average is $27.05. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 2,982.28, a PEG ratio of 7.59 and a beta of 0.72. 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 has a 52-week low of $15.62 and a 52-week high of $35.71.

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

Insiders Place Their Bets

In related news, CEO Sandeep Sahai sold 139,172 shares of Clearwater Analytics stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 441,724 shares of the company’s stock, valued at $12,783,492.56. The trade was a 23.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $29.07, for a total transaction of $113,082.30. Following the transaction, the executive now owns 6,373 shares in the company, valued at approximately $185,263.11. This trade represents a 37.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 299,162 shares of company stock valued at $8,386,024. 4.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clearwater Analytics

A number of institutional investors have recently modified their holdings of CWAN. Chartwell Investment Partners LLC grew its stake in shares of Clearwater Analytics by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company’s stock valued at $1,233,000 after purchasing an additional 395 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Clearwater Analytics by 57.4% during the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after buying an additional 468 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Clearwater Analytics by 3.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company’s stock valued at $469,000 after buying an additional 502 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Clearwater Analytics by 11.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company’s stock valued at $142,000 after buying an additional 521 shares during the period. Finally, IHT Wealth Management LLC raised its position in shares of Clearwater Analytics by 5.5% during the third quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock worth $288,000 after acquiring an additional 598 shares during the last quarter. 50.10% of the stock is owned by institutional investors.

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.