Clearwater Analytics (NYSE:CWAN) Stock Rating Upgraded by Piper Sandler

Piper Sandler upgraded shares of Clearwater Analytics (NYSE:CWAN - Free Report) from a neutral rating to an overweight rating in a research report report published on Thursday, MarketBeat.com reports. They currently have $36.00 price objective on the stock, up from their previous price objective of $28.00.

Several other equities research analysts have also commented on the company. JPMorgan Chase & Co. upgraded Clearwater Analytics from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $23.00 to $33.00 in a research note on Thursday, November 7th. Morgan Stanley upgraded Clearwater Analytics from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $30.00 to $34.00 in a research note on Friday, January 17th. Oppenheimer upped their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Royal Bank of Canada dropped their target price on shares of Clearwater Analytics from $36.00 to $30.00 and set an "outperform" rating for the company in a report on Tuesday, January 14th. Finally, Wells Fargo & Company upped their target price on shares of Clearwater Analytics from $33.00 to $35.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.80.

Clearwater Analytics Stock Performance

NYSE:CWAN traded up $1.41 during trading hours on Thursday, reaching $31.35. The company had a trading volume of 5,089,250 shares, compared to its average volume of 2,158,487. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $35.71. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 8.23 and a beta of 0.72. The firm's 50 day moving average price is $28.03 and its 200-day moving average price is $27.11.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $126.47 million during the quarter, compared to analysts' expectations of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. On average, analysts forecast that Clearwater Analytics will post 0.18 EPS for the current year.

Insider Buying and Selling at Clearwater Analytics

In related news, insider Subi Sethi sold 62,482 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $1,878,833.74. Following the completion of the transaction, the insider now owns 144,973 shares of the company's stock, valued at approximately $4,359,338.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sandeep Sahai sold 139,172 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the completion of the transaction, the chief executive officer now directly owns 441,724 shares of the company's stock, valued at approximately $12,783,492.56. The trade was a 23.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 733,431 shares of company stock valued at $21,444,493 in the last 90 days. Insiders own 4.60% of the company's stock.

Institutional Trading of Clearwater Analytics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its position in Clearwater Analytics by 21.7% in the 4th quarter. Mackenzie Financial Corp now owns 10,996 shares of the company's stock worth $303,000 after purchasing an additional 1,960 shares during the period. Neo Ivy Capital Management purchased a new stake in Clearwater Analytics in the 4th quarter worth about $3,362,000. GTS Securities LLC purchased a new stake in Clearwater Analytics in the 4th quarter worth about $479,000. Ashford Capital Management Inc. purchased a new stake in Clearwater Analytics in the 4th quarter worth about $7,736,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Clearwater Analytics by 57.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 452,466 shares of the company's stock worth $12,452,000 after acquiring an additional 164,603 shares during the period. 50.10% of the stock is owned by hedge funds and other 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.