Clearwater Analytics (NYSE:CWAN) Downgraded by DA Davidson to “Neutral”

Clearwater Analytics (NYSE:CWAN) was downgraded by analysts at DA Davidson from a “buy” rating to a “neutral” rating in a report issued on Friday,Briefing.com Automated Import reports. They presently have a $35.00 target price on the stock, up from their prior target price of $31.00. DA Davidson’s price target indicates a potential upside of 6.81% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Piper Sandler raised their price target on Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday. Wells Fargo & Company raised their price target on Clearwater Analytics from $23.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday. The Goldman Sachs Group raised their price target on Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research note on Thursday. Citigroup assumed coverage on Clearwater Analytics in a research note on Monday, August 19th. They set a “buy” rating and a $28.00 price target for the company. Finally, Royal Bank of Canada raised their price objective on Clearwater Analytics from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.67.

Clearwater Analytics Stock Performance

Shares of CWAN opened at $32.77 on Friday. 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 $35.71. The business has a 50-day simple moving average of $25.64 and a two-hundred day simple moving average of $21.85. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of -1,638.50, a PEG ratio of 9.53 and a beta of 0.61.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. The company had revenue of $115.83 million during the quarter, compared to analyst estimates of $113.37 million. On average, analysts expect that Clearwater Analytics will post 0.14 EPS for the current year.

Insider Activity

In other news, CFO James S. Cox sold 13,700 shares of Clearwater Analytics stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total value of $323,868.00. Following the transaction, the chief financial officer now directly owns 232,503 shares in the company, valued at approximately $5,496,370.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Clearwater Analytics news, insider Subi Sethi sold 21,497 shares of Clearwater Analytics 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 owns 81,812 shares of the company’s stock, valued at approximately $1,988,031.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James S. Cox sold 13,700 shares of Clearwater Analytics stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $23.64, for a total value of $323,868.00. Following the sale, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at approximately $5,496,370.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,864,693 shares of company stock worth $45,128,342. 3.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

Several institutional investors and hedge funds have recently modified their holdings of CWAN. Advisors Asset Management Inc. lifted its holdings 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 buying an additional 1,234 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in Clearwater Analytics in the third quarter valued at approximately $45,000. Financial Management Professionals Inc. purchased a new stake in shares of Clearwater Analytics in the third quarter valued at approximately $58,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Clearwater Analytics by 124.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock worth $81,000 after buying an additional 2,425 shares during the period. Finally, Amalgamated Bank purchased a new position in shares of Clearwater Analytics during the 2nd quarter valued at approximately $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.