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

JPMorgan Chase & Co. started coverage on shares of Clearwater Analytics (NYSE:CWAN) in a research note released on Friday morning, Marketbeat.com reports. The firm issued an overweight rating and a $28.00 price objective on the stock.

CWAN has been the subject of several other reports. UBS Group boosted their price target on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 20th. DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $28.00 to $36.00 in a report on Thursday, February 20th. Wells Fargo & Company cut their price target on shares of Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Royal Bank of Canada boosted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Clearwater Analytics currently has an average rating of “Moderate Buy” and a consensus price target of $32.80.

Clearwater Analytics Price Performance

CWAN stock opened at $22.80 on Friday. The stock’s 50 day moving average price is $26.20 and its 200 day moving average price is $27.64. The firm has a market cap of $5.72 billion, a P/E ratio of 13.73, a PEG ratio of 8.23 and a beta of 0.76. 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 1 year low of $15.62 and a 1 year high of $35.71.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company 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, sell-side analysts expect that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Clearwater Analytics news, insider Subi Sethi sold 62,482 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the completion of the sale, the insider now owns 144,973 shares in the company, valued at $4,359,338.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $23.17, for a total value of $433,279.00. Following the completion of the transaction, the chief financial officer now directly owns 358,885 shares in the company, valued at approximately $8,315,365.45. The trade was a 4.95 % decrease in their ownership of the stock. 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.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CWAN. GAMMA Investing LLC raised its stake in shares of Clearwater Analytics by 57.4% in the 4th 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. Arcadia Investment Management Corp MI bought a new position in Clearwater Analytics during the 4th quarter worth approximately $57,000. R Squared Ltd bought a new position in Clearwater Analytics during the 4th quarter worth approximately $80,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Clearwater Analytics in the 4th quarter worth approximately $82,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Clearwater Analytics by 174.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock valued at $86,000 after acquiring an additional 1,987 shares during the last quarter. 50.10% of the stock is currently 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.