Clearwater Analytics (NYSE:CWAN) Rating Reiterated by Piper Sandler

Clearwater Analytics (NYSE:CWAN)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Piper Sandler in a note issued to investors on Monday, Benzinga reports. They currently have a $23.00 target price on the stock. Piper Sandler’s price objective indicates a potential downside of 2.50% from the stock’s previous close.

Several other analysts have also recently issued reports on CWAN. Wells Fargo & Company increased their price target 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. Oppenheimer raised shares of Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research report on Monday, July 8th. Finally, Citigroup began coverage on shares of Clearwater Analytics in a research note on Monday, August 19th. They set a “buy” rating and a $28.00 target price on the stock. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and an average target price of $23.30.

Clearwater Analytics Price Performance

Shares of NYSE CWAN opened at $23.59 on Monday. The firm has a market cap of $5.80 billion, a PE ratio of -294.88, a PEG ratio of 8.63 and a beta of 0.61. The firm has a fifty day moving average of $21.94 and a 200 day moving average of $19.32. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78. Clearwater Analytics has a one year low of $15.62 and a one year high of $24.93.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The company had revenue of $106.79 million during the quarter, compared to analyst estimates of $105.51 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. As a group, research analysts predict that Clearwater Analytics will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Clearwater Analytics news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $24.18, for a total value of $43,144,760.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $19.50, for a total value of $75,855.00. Following the completion of the sale, the executive now directly owns 4,844 shares of the company’s stock, valued at approximately $94,458. The disclosure for this sale can be found here. Insiders sold a total of 10,874,528 shares of company stock valued at $246,770,181 over the last three months. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clearwater Analytics

A number of hedge funds and other institutional investors have recently bought and sold shares of CWAN. Advisors Asset Management Inc. increased its position in shares of Clearwater Analytics by 268.8% in the first 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 in the last quarter. Eagle Bay Advisors LLC increased its position in shares of Clearwater Analytics by 213.3% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock valued at $36,000 after buying an additional 1,207 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Clearwater Analytics by 389.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock valued at $34,000 after buying an additional 1,549 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of Clearwater Analytics in the fourth quarter valued at $90,000. Finally, Amalgamated Bank purchased a new position in shares of Clearwater Analytics in the second quarter valued at $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.