JPMorgan Chase & Co. Cuts Clearwater Analytics (NYSE:CWAN) Price Target to $20.00

Clearwater Analytics (NYSE:CWAN) had its price objective decreased by JPMorgan Chase & Co. from $22.00 to $20.00 in a report issued on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research firms have also recently issued reports on CWAN. DA Davidson reiterated a buy rating and issued a $24.00 target price on shares of Clearwater Analytics in a research note on Monday, February 5th. Wells Fargo & Company decreased their target price on Clearwater Analytics from $24.00 to $22.00 and set an overweight rating for the company in a research note on Thursday. Finally, Piper Sandler restated a neutral rating and issued a $20.00 price target on shares of Clearwater Analytics in a research report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Clearwater Analytics currently has a consensus rating of Moderate Buy and an average price target of $21.70.

Clearwater Analytics Stock Up 2.9 %

CWAN stock traded up $0.49 during midday trading on Thursday, reaching $17.67. The company had a trading volume of 1,563,888 shares, compared to its average volume of 1,079,200. The company has a 50 day moving average of $17.01 and a two-hundred day moving average of $18.67. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.11. Clearwater Analytics has a 1 year low of $13.02 and a 1 year high of $21.89. The company has a market capitalization of $4.32 billion, a P/E ratio of -220.88, a PEG ratio of 7.01 and a beta of 0.50.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, May 1st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Clearwater Analytics had a positive return on equity of 1.26% and a negative net margin of 3.90%. The firm had revenue of $102.70 million for the quarter, compared to the consensus estimate of $100.55 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. On average, equities research analysts expect that Clearwater Analytics will post 0.11 earnings per share for the current fiscal year.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $16.90, for a total value of $274,625,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $16.90, for a total value of $274,625,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $19.74, for a total transaction of $987,000.00. Following the sale, the chief executive officer now directly owns 270,838 shares of the company’s stock, valued at approximately $5,346,342.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,310,000 shares of company stock valued at $275,809,400. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

Institutional investors and hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP lifted its position in shares of Clearwater Analytics by 35.6% during the first quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after purchasing an additional 4,304,286 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Clearwater Analytics by 36.6% during the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock worth $258,628,000 after buying an additional 3,461,158 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Clearwater Analytics by 1.2% during the 1st quarter. Conestoga Capital Advisors LLC now owns 6,506,247 shares of the company’s stock worth $115,096,000 after buying an additional 79,880 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Clearwater Analytics by 0.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,933,075 shares of the company’s stock valued at $114,746,000 after buying an additional 30,771 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Clearwater Analytics by 28.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,359,848 shares of the company’s stock valued at $77,126,000 after buying an additional 971,920 shares during the period. 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.