Clearwater Analytics (NYSE:CWAN) Now Covered by The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group began coverage on shares of Clearwater Analytics (NYSE:CWAN) in a research note issued to investors on Monday. The brokerage set a “neutral” rating and a $26.00 price target on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 10.64% from the company’s previous close.

CWAN has been the topic of several other research reports. JPMorgan Chase & Co. began coverage on Clearwater Analytics in a research note on Friday, April 25th. They set an “overweight” rating and a $28.00 price target on the stock. Piper Sandler cut their price target on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley restated an “overweight” rating and set a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Wells Fargo & Company cut their price target on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, UBS Group raised their price target on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.40.

Clearwater Analytics Trading Down 1.4%

CWAN traded down $0.33 during trading on Monday, reaching $23.50. The company had a trading volume of 109,606 shares, compared to its average volume of 2,301,557. The stock has a market cap of $6.66 billion, a P/E ratio of 14.18, a PEG ratio of 8.23 and a beta of 0.79. The business has a 50 day simple moving average of $24.31 and a 200-day simple moving average of $27.34. Clearwater Analytics has a 52 week low of $17.63 and a 52 week high of $35.71. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The company had revenue of $126.86 million during the quarter, compared to the consensus estimate of $125.11 million. During the same period last year, the company earned $0.10 earnings per share. Clearwater Analytics’s revenue was up 23.5% on a year-over-year basis. On average, equities analysts anticipate that Clearwater Analytics will post 0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $23.17, for a total value of $433,279.00. Following the transaction, the chief financial officer now directly owns 358,885 shares in the company, valued at approximately $8,315,365.45. This trade represents a 4.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $24.29, for a total value of $1,214,500.00. Following the completion of the transaction, the chief executive officer now owns 876,754 shares in the company, valued at $21,296,354.66. This trade represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 644,510 shares of company stock valued at $18,311,363 over the last quarter. Company insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nvwm LLC purchased a new stake in shares of Clearwater Analytics in the first quarter valued at approximately $46,000. Quarry LP boosted its stake in shares of Clearwater Analytics by 979.4% in the first quarter. Quarry LP now owns 2,094 shares of the company’s stock valued at $56,000 after buying an additional 1,900 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Clearwater Analytics in the fourth quarter valued at approximately $57,000. R Squared Ltd purchased a new stake in shares of Clearwater Analytics in the fourth quarter valued at approximately $80,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Clearwater Analytics in the fourth quarter valued at approximately $82,000. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

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.