Clearwater Analytics (NYSE:CWAN) Earns Neutral Rating from Piper Sandler

Piper Sandler restated their neutral rating on shares of Clearwater Analytics (NYSE:CWAN) in a report issued on Monday, Benzinga reports. The brokerage currently has a $23.00 target price on the stock.

Other research analysts have also issued research reports about the company. Wells Fargo & Company lifted their price target on Clearwater Analytics from $22.00 to $23.00 and gave the stock an overweight rating in a report on Thursday, August 1st. Citigroup assumed coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They set a buy rating and a $28.00 target price on the stock. Finally, Oppenheimer raised shares of Clearwater Analytics from a market perform rating to an outperform rating and set a $25.00 price target for the company in a research note on Monday, July 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Clearwater Analytics currently has an average rating of Moderate Buy and an average price target of $23.30.

Clearwater Analytics Stock Performance

CWAN opened at $23.37 on Monday. The company has a market cap of $5.74 billion, a price-to-earnings ratio of -292.13, a PEG ratio of 8.63 and a beta of 0.61. The firm’s fifty day simple moving average is $22.14 and its two-hundred day simple moving average is $19.38. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $24.93.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $106.79 million during the quarter, compared to analyst estimates of $105.51 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. Clearwater Analytics’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) EPS. Equities analysts anticipate that Clearwater Analytics will post 0.14 earnings per share for the current fiscal year.

Insider Activity at Clearwater Analytics

In other news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $24.18, for a total value of $43,144,760.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $24.18, for a total value of $43,144,760.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Subi Sethi sold 21,497 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $24.30, for a total value of $522,377.10. Following the completion of the transaction, the insider now 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 sold a total of 10,878,418 shares of company stock valued at $246,862,568 over the last ninety days. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in shares of Clearwater Analytics by 268.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after acquiring an additional 1,234 shares during the period. Eagle Bay Advisors LLC boosted its holdings 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 valued at $36,000 after buying an additional 1,207 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings 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 valued at $34,000 after buying an additional 1,549 shares during the period. Essex Investment Management Co. LLC bought a new stake in shares of Clearwater Analytics in the 4th quarter worth approximately $90,000. Finally, Amalgamated Bank acquired a new stake in shares of Clearwater Analytics in the 2nd quarter worth about $90,000. Institutional investors and hedge funds 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.