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

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

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

Clearwater Analytics Trading Up 2.9 %

NYSE:CWAN opened at $17.67 on Thursday. Clearwater Analytics has a 52 week low of $13.02 and a 52 week high of $21.89. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of -220.88, a PEG ratio of 7.01 and a beta of 0.50. The company’s 50 day moving average price is $17.01 and its 200-day moving average price is $18.66. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.11.

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

Insider Activity

In related news, CFO James S. Cox sold 10,000 shares of Clearwater Analytics stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $19.74, for a total transaction of $197,400.00. Following the transaction, the chief financial officer now directly owns 148,711 shares in the company, valued at $2,935,555.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Clearwater Analytics news, CFO James S. Cox sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $19.74, for a total transaction of $197,400.00. Following the sale, the chief financial officer now owns 148,711 shares in the company, valued at approximately $2,935,555.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $16.90, for a total transaction of $274,625,000.00. The disclosure for this sale can be found here. Insiders sold a total of 16,310,000 shares of company stock valued at $275,809,400 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Shields Capital Management LLC purchased a new stake in shares of Clearwater Analytics during the first quarter worth about $283,000. Wellington Shields & Co. LLC purchased a new stake in Clearwater Analytics during the 1st quarter valued at approximately $177,000. RiverPark Advisors LLC raised its position in shares of Clearwater Analytics by 361.0% during the first quarter. RiverPark Advisors LLC now owns 5,366 shares of the company’s stock valued at $95,000 after buying an additional 4,202 shares during the last quarter. Capstone Investment Advisors LLC lifted its holdings in shares of Clearwater Analytics by 111.6% in the first quarter. Capstone Investment Advisors LLC now owns 68,710 shares of the company’s stock worth $1,215,000 after buying an additional 36,241 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Clearwater Analytics by 28.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,359,848 shares of the company’s stock worth $77,126,000 after acquiring an additional 971,920 shares during the last quarter. 50.10% of the stock is owned by 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.