Clearwater Analytics (NYSE:CWAN) Shares Down 4.4% After Analyst Downgrade

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report)'s stock price fell 4.4% during trading on Wednesday after Oppenheimer lowered their price target on the stock from $40.00 to $36.00. Oppenheimer currently has an outperform rating on the stock. Clearwater Analytics traded as low as $23.00 and last traded at $23.65. 1,719,499 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 2,826,087 shares. The stock had previously closed at $24.75.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group assumed coverage on shares of Clearwater Analytics in a research report on Monday, May 19th. They issued a "neutral" rating and a $26.00 price objective on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. Royal Bank of Canada increased their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. UBS Group increased their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company dropped their target price on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $32.00.

Insiders Place Their Bets

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $23.09, for a total transaction of $1,154,500.00. Following the transaction, the chief executive officer now directly owns 876,754 shares of the company's stock, valued at approximately $20,244,249.86. This trade represents a 5.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $26.58, for a total transaction of $497,046.00. Following the completion of the sale, the chief financial officer now owns 358,502 shares of the company's stock, valued at $9,528,983.16. This trade represents a 4.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,034 shares of company stock valued at $3,598,245. Insiders own 3.31% of the company's stock.

Institutional Trading of Clearwater Analytics

Several hedge funds have recently made changes to their positions in the company. Apollon Wealth Management LLC lifted its stake in shares of Clearwater Analytics by 3.9% in the 1st quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company's stock worth $331,000 after acquiring an additional 459 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Clearwater Analytics by 3.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company's stock valued at $469,000 after purchasing an additional 502 shares during the period. Huntleigh Advisors Inc. lifted its stake in shares of Clearwater Analytics by 1.9% in the first quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company's stock valued at $863,000 after purchasing an additional 595 shares during the period. Redwood Investments LLC lifted its stake in shares of Clearwater Analytics by 0.8% in the first quarter. Redwood Investments LLC now owns 74,651 shares of the company's stock valued at $2,001,000 after purchasing an additional 608 shares during the period. Finally, Abacus FCF Advisors LLC lifted its stake in shares of Clearwater Analytics by 2.8% in the first quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company's stock valued at $674,000 after purchasing an additional 682 shares during the period. Institutional investors and hedge funds own 50.10% of the company's stock.

Clearwater Analytics Price Performance

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's 50 day moving average is $23.03 and its 200 day moving average is $26.33. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 8.23 and a beta of 0.77.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 EPS 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 analysts' expectations of $125.11 million. During the same quarter last year, the business earned $0.10 earnings per share. The business's revenue for the quarter was up 23.5% compared to the same quarter last year. Research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

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.