Clearwater Analytics (NYSE:CWAN) Upgraded by JPMorgan Chase & Co. to Overweight Rating

JPMorgan Chase & Co. upgraded shares of Clearwater Analytics (NYSE:CWAN) from a neutral rating to an overweight rating in a research note released on Thursday, Marketbeat reports. JPMorgan Chase & Co. currently has $33.00 target price on the stock, up from their prior target price of $23.00.

Several other brokerages also recently weighed in on CWAN. Citigroup assumed coverage on Clearwater Analytics in a research note on Monday, August 19th. They set a “buy” rating and a $28.00 target price on the stock. Wells Fargo & Company boosted their target price on Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler restated a “neutral” rating and set a $23.00 target price on shares of Clearwater Analytics in a research note on Monday, September 9th. Oppenheimer boosted their target price on Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Finally, Morgan Stanley boosted their target price on Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.67.

Clearwater Analytics Trading Down 3.4 %

Shares of CWAN stock traded down $1.11 on Thursday, reaching $31.68. 1,958,726 shares of the company’s stock were exchanged, compared to its average volume of 1,473,765. The company’s fifty day simple moving average is $25.64 and its 200 day simple moving average is $21.85. The stock has a market capitalization of $7.80 billion, a PE ratio of -1,638.50, a P/E/G ratio of 9.53 and a beta of 0.61. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $35.71. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. The business had revenue of $115.83 million for the quarter, compared to the consensus estimate of $113.37 million. As a group, analysts forecast that Clearwater Analytics will post 0.14 EPS for the current year.

Insider Buying and Selling

In related news, CFO James S. Cox sold 13,700 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total value of $323,868.00. Following the transaction, the chief financial officer now owns 232,503 shares of the company’s stock, valued at $5,496,370.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO James S. Cox sold 13,700 shares of Clearwater Analytics stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $23.64, for a total transaction of $323,868.00. Following the sale, the chief financial officer now directly owns 232,503 shares in the company, valued at $5,496,370.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total transaction of $489,192.00. Following the completion of the transaction, the chief financial officer now owns 224,044 shares in the company, valued at approximately $5,860,991.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,864,693 shares of company stock worth $45,128,342 over the last 90 days. 3.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Clearwater Analytics

A number of large investors have recently bought and sold shares of CWAN. Advisors Asset Management Inc. raised its stake in Clearwater Analytics by 268.8% during the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after purchasing an additional 1,234 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Clearwater Analytics in the 3rd quarter valued at $45,000. Financial Management Professionals Inc. purchased a new position in shares of Clearwater Analytics in the 3rd quarter valued at $58,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Clearwater Analytics by 124.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock valued at $81,000 after acquiring an additional 2,425 shares during the period. Finally, Amalgamated Bank purchased a new position in shares of Clearwater Analytics in the 2nd quarter valued at $90,000. Hedge funds and other institutional investors 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.