Clearwater Analytics (NYSE:CWAN) Now Covered by JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. assumed coverage on shares of Clearwater Analytics (NYSE:CWAN - Get Free Report) in a research note issued to investors on Friday. The firm set an "overweight" rating and a $28.00 price target on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 25.22% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. DA Davidson upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. UBS Group upped their price target on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Piper Sandler raised Clearwater Analytics from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $28.00 to $36.00 in a report on Thursday, February 20th. Royal Bank of Canada increased their price target on Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $32.80.

Clearwater Analytics Stock Down 1.7 %

Shares of NYSE:CWAN traded down $0.39 during mid-day trading on Friday, hitting $22.36. 204,825 shares of the company traded hands, compared to its average volume of 2,144,486. The firm has a market cap of $5.61 billion, a P/E ratio of 13.43, a PEG ratio of 8.23 and a beta of 0.76. The firm's 50 day simple moving average is $26.30 and its 200 day simple moving average is $27.66. 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 - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $126.47 million for the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. On average, equities analysts anticipate that Clearwater Analytics will post 0.18 EPS for the current year.

Insider Activity at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $27.63, for a total value of $1,381,500.00. Following the completion of the transaction, the chief executive officer now directly owns 615,855 shares in the company, valued at approximately $17,016,073.65. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $27.33, for a total transaction of $511,071.00. Following the completion of the transaction, the chief financial officer now directly owns 274,857 shares of the company's stock, valued at $7,511,841.81. This trade represents a 6.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 644,510 shares of company stock worth $18,478,363 in the last 90 days. 4.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

Several institutional investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its position in Clearwater Analytics by 105.6% during the 3rd quarter. Barclays PLC now owns 571,860 shares of the company's stock worth $14,439,000 after buying an additional 293,719 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Clearwater Analytics by 348.3% during the third quarter. Principal Financial Group Inc. now owns 84,793 shares of the company's stock valued at $2,141,000 after purchasing an additional 65,878 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock valued at $35,000 after purchasing an additional 468 shares in the last quarter. Park Avenue Securities LLC bought a new position in Clearwater Analytics in the 4th quarter worth approximately $345,000. Finally, Jackson Square Capital LLC acquired a new position in Clearwater Analytics during the 4th quarter worth $558,000. 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.

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