Clearwater Analytics (NYSE:CWAN) Price Target Cut to $20.00 by Analysts at JPMorgan Chase & Co.

Clearwater Analytics (NYSE:CWAN) had its target price lowered by JPMorgan Chase & Co. from $22.00 to $20.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts have also recently weighed in on CWAN. DA Davidson reaffirmed a buy rating and set a $24.00 target price on shares of Clearwater Analytics in a research note on Monday, February 5th. Wells Fargo & Company dropped their price objective on shares of Clearwater Analytics from $24.00 to $22.00 and set an overweight rating for the company in a research note on Thursday. Finally, Piper Sandler reissued a neutral rating and issued a $20.00 price objective on shares of Clearwater Analytics in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $21.70.

Clearwater Analytics Price Performance

Shares of NYSE CWAN traded up $0.48 during midday trading on Thursday, reaching $17.66. The stock had a trading volume of 1,563,875 shares, compared to its average volume of 1,231,465. The stock has a 50-day moving average of $17.01 and a 200-day moving average of $18.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.15 and a current ratio of 5.15. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of -220.75, a price-to-earnings-growth ratio of 6.28 and a beta of 0.50. Clearwater Analytics has a 12-month low of $13.02 and a 12-month high of $21.89.

Clearwater Analytics (NYSE:CWAN) last posted its earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $102.70 million during the quarter, compared to analysts’ expectations of $100.55 million. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.26%. Clearwater Analytics’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period last year, the company posted $0.07 earnings per share. As a group, research analysts anticipate that Clearwater Analytics will post 0.13 EPS for the current fiscal year.

Insider Transactions at Clearwater Analytics

In other news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $16.90, for a total value of $274,625,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of Clearwater Analytics stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $16.90, for a total transaction of $274,625,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James S. Cox sold 10,000 shares of Clearwater Analytics stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $19.74, for a total transaction of $197,400.00. Following the sale, the chief financial officer now owns 148,711 shares of the company’s stock, valued at approximately $2,935,555.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,310,000 shares of company stock worth $275,809,400. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clearwater Analytics

Several large investors have recently modified their holdings of the business. Eagle Bay Advisors LLC grew its position in shares of Clearwater Analytics by 213.3% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock worth $36,000 after buying an additional 1,207 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Clearwater Analytics by 389.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after buying an additional 1,549 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Clearwater Analytics by 33.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,442 shares of the company’s stock worth $49,000 after buying an additional 616 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of Clearwater Analytics in the 4th quarter worth approximately $90,000. Finally, RiverPark Advisors LLC grew its position in Clearwater Analytics by 361.0% during the 1st quarter. RiverPark Advisors LLC now owns 5,366 shares of the company’s stock worth $95,000 after purchasing an additional 4,202 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

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.