Clearwater Analytics (NYSE:CWAN) Upgraded by JPMorgan Chase & Co. to Overweight Rating

JPMorgan Chase & Co. upgraded shares of Clearwater Analytics (NYSE:CWAN) from a neutral rating to an overweight rating in a research note released on Thursday morning, Marketbeat.com reports. The firm currently has $33.00 price objective on the stock, up from their prior price objective of $23.00.

A number of other analysts have also weighed in on the company. Wells Fargo & Company increased their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler reissued a “neutral” rating and set a $23.00 price target on shares of Clearwater Analytics in a research report on Monday, September 9th. Morgan Stanley upped their price objective on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Oppenheimer raised their target price on Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Finally, Citigroup started coverage on Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.67.

Clearwater Analytics Trading Down 2.7 %

NYSE CWAN opened at $31.90 on Thursday. The firm has a market cap of $7.86 billion, a PE ratio of 3,193.19, a price-to-earnings-growth ratio of 10.36 and a beta of 0.61. Clearwater Analytics has a 1-year low of $15.62 and a 1-year high of $35.71. The stock has a 50-day moving average of $25.79 and a 200-day moving average of $22.00. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11.

Insider Transactions at Clearwater Analytics

In related news, CFO James S. Cox sold 13,700 shares of the company’s 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 sale, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at $5,496,370.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO James S. Cox sold 13,700 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $23.64, for a total transaction of $323,868.00. Following the sale, the chief financial officer now owns 232,503 shares in the company, valued at approximately $5,496,370.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Galibier Purchaser, Llc sold 1,784,316 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,864,693 shares of company stock valued at $45,128,342. Corporate insiders own 3.46% of the company’s stock.

Institutional Trading of Clearwater Analytics

Several hedge funds and other institutional investors have recently made changes to their positions in CWAN. Advisors Asset Management Inc. boosted its holdings in Clearwater Analytics by 268.8% in the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after acquiring an additional 1,234 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Clearwater Analytics in the 3rd quarter worth about $45,000. Financial Management Professionals Inc. bought a new position in Clearwater Analytics in the 3rd quarter worth about $58,000. Benjamin F. Edwards & Company Inc. grew its position in Clearwater Analytics by 124.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock valued at $81,000 after purchasing an additional 2,425 shares during the last quarter. Finally, Amalgamated Bank bought a new stake in Clearwater Analytics during the 2nd quarter valued at about $90,000. Hedge funds and other 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.