Clearwater Analytics (NYSE:CWAN) Rating Increased to Overweight at JPMorgan Chase & Co.

Clearwater Analytics (NYSE:CWAN - Get Free Report) was upgraded by investment analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm presently has a $33.00 price objective on the stock, up from their previous price objective of $23.00. JPMorgan Chase & Co.'s target price indicates a potential upside of 0.70% from the stock's previous close.

CWAN has been the subject of several other reports. Oppenheimer raised their price target on Clearwater Analytics from $25.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, October 7th. Piper Sandler reaffirmed a "neutral" rating and set a $23.00 price target on shares of Clearwater Analytics in a research note on Monday, September 9th. Citigroup started coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They issued a "buy" rating and a $28.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Clearwater Analytics from $22.00 to $23.00 and gave the stock an "overweight" rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada lifted their price target on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $28.90.

Clearwater Analytics Stock Performance

CWAN traded up $4.19 on Thursday, hitting $32.77. 6,549,018 shares of the company traded hands, compared to its average volume of 1,471,997. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $35.71. The company has a 50 day moving average of $25.64 and a 200-day moving average of $21.85. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $8.07 billion, a PE ratio of -1,638.50, a PEG ratio of 9.53 and a beta of 0.61.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $115.83 million during the quarter, compared to the consensus estimate of $113.37 million. Sell-side analysts anticipate that Clearwater Analytics will post 0.14 earnings per share for the current year.

Insider Buying and Selling at Clearwater Analytics

In related news, 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 transaction of $323,868.00. Following the completion of the sale, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total transaction of $489,192.00. Following the sale, the chief financial officer now owns 224,044 shares in the company, valued at $5,860,991.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James S. Cox sold 13,700 shares of the company's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $23.64, for a total value of $323,868.00. Following the completion of the transaction, the chief financial officer now owns 232,503 shares of the company's stock, valued at $5,496,370.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,864,693 shares of company stock worth $45,128,342. 3.46% of the stock is owned by insiders.

Institutional Trading of Clearwater Analytics

A number of hedge funds have recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC grew its stake in shares of Clearwater Analytics by 5.7% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,851,879 shares of the company's stock valued at $32,760,000 after buying an additional 100,339 shares during the period. Swiss National Bank increased its stake in Clearwater Analytics by 21.4% during the first quarter. Swiss National Bank now owns 288,300 shares of the company's stock worth $5,100,000 after acquiring an additional 50,800 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Clearwater Analytics in the 1st quarter worth about $825,000. Sei Investments Co. raised its holdings in shares of Clearwater Analytics by 24.4% in the 1st quarter. Sei Investments Co. now owns 1,586,565 shares of the company's stock worth $28,066,000 after purchasing an additional 311,499 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in shares of Clearwater Analytics by 42.5% during the 1st quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company's stock worth $183,344,000 after purchasing an additional 3,090,352 shares during the period. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Company Profile

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.