Piper Sandler Initiates Coverage on Clearwater Analytics (NYSE:CWAN)

Analysts at Piper Sandler began coverage on shares of Clearwater Analytics (NYSE:CWAN - Get Free Report) in a report released on Tuesday. The firm set an "overweight" rating and a $27.00 price target on the stock. Piper Sandler's price objective would suggest a potential upside of 24.78% from the stock's previous close.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. initiated coverage on Clearwater Analytics in a research report on Friday, April 25th. They issued an "overweight" rating and a $28.00 price objective for the company. 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, April 22nd. Oppenheimer reduced their price target on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, June 11th. Finally, The Goldman Sachs Group started coverage on shares of Clearwater Analytics in a report on Monday, May 19th. They set a "neutral" rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $31.90.

Clearwater Analytics Trading Up 1.7%

CWAN opened at $21.64 on Tuesday. The firm's fifty day moving average is $22.86 and its two-hundred day moving average is $25.94. The firm has a market cap of $6.13 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 4.14 and a beta of 0.77. Clearwater Analytics has a twelve month low of $17.63 and a twelve month high of $35.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.09 and a current ratio of 5.09.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Clearwater Analytics had a return on equity of 5.22% and a net margin of 90.18%. The business had revenue of $126.86 million for the quarter, compared to the consensus estimate of $125.11 million. During the same quarter last year, the business posted $0.10 EPS. The firm's revenue was up 23.5% compared to the same quarter last year. Equities research analysts anticipate that Clearwater Analytics will post 0.18 EPS for the current year.

Insider Activity

In related news, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $23.09, for a total value of $1,154,500.00. Following the sale, the chief executive officer now owns 876,754 shares of the company's stock, valued at approximately $20,244,249.86. The trade was a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen A. Corbet sold 12,634 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total value of $298,920.44. Following the transaction, the director now directly owns 14,498 shares of the company's stock, valued at $343,022.68. This trade represents a 46.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,034 shares of company stock worth $4,629,774 over the last ninety days. Insiders own 3.31% of the company's stock.

Institutional Trading of Clearwater Analytics

Large investors have recently added to or reduced their stakes in the company. Nvwm LLC acquired a new stake in Clearwater Analytics in the 1st quarter valued at about $46,000. Quarry LP raised its stake in 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 during the period. Aster Capital Management DIFC Ltd bought a new stake in Clearwater Analytics in the fourth quarter valued at approximately $82,000. CWM LLC lifted its position in shares of Clearwater Analytics by 714.6% in the first quarter. CWM LLC now owns 3,071 shares of the company's stock valued at $82,000 after buying an additional 2,694 shares during the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of Clearwater Analytics during the 4th quarter worth approximately $88,000. Institutional investors and hedge funds own 50.10% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.