Clearwater Analytics (NYSE:CWAN) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Clearwater Analytics (NYSE:CWAN) in a report published on Monday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $26.00 target price on the stock.

CWAN has been the subject of a number of other research reports. Royal Bank of Canada boosted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. UBS Group boosted their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Morgan Stanley reissued an “overweight” rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. JPMorgan Chase & Co. assumed coverage on Clearwater Analytics in a research report on Friday, April 25th. They set an “overweight” rating and a $28.00 price target on the stock. Finally, Piper Sandler reduced their price target on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.40.

Clearwater Analytics Stock Down 5.3%

Shares of NYSE CWAN opened at $22.41 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The company has a market cap of $6.35 billion, a P/E ratio of 13.50, a PEG ratio of 8.23 and a beta of 0.79. Clearwater Analytics has a 1 year low of $17.63 and a 1 year high of $35.71. The firm has a 50-day simple moving average of $24.08 and a two-hundred day simple moving average of $27.26.

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

Insider Activity at Clearwater Analytics

In other news, Director Kathleen A. Corbet sold 12,634 shares of Clearwater Analytics stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total transaction of $298,920.44. Following the completion of the sale, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $343,022.68. The trade was a 46.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $26.56, for a total transaction of $1,328,000.00. Following the sale, the chief executive officer now directly owns 857,798 shares of the company’s stock, valued at approximately $22,783,114.88. This trade represents a 5.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 204,175 shares of company stock worth $5,040,744. Insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Institutional investors and hedge funds have recently made changes to their positions in the business. Nvwm LLC acquired a new position in Clearwater Analytics during the first quarter worth about $46,000. Arcadia Investment Management Corp MI purchased a new position in Clearwater Analytics during the fourth quarter worth approximately $57,000. Quarry LP raised its stake in Clearwater Analytics by 979.4% during the first quarter. Quarry LP now owns 2,094 shares of the company’s stock worth $56,000 after purchasing an additional 1,900 shares during the period. R Squared Ltd purchased a new position in shares of Clearwater Analytics in the 4th quarter valued at $80,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Clearwater Analytics in the 4th quarter valued at $82,000. 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.