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

Clearwater Analytics (NYSE:CWAN) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $22.00 to $20.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 13.25% from the stock’s current price.

A number of other equities research analysts also recently issued reports on CWAN. DA Davidson reiterated a “buy” rating and issued a $24.00 target price on shares of Clearwater Analytics in a research report on Monday, February 5th. Wells Fargo & Company lowered their target price on shares of Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Piper Sandler reissued a “neutral” rating and set a $20.00 target price on shares of Clearwater Analytics in a research report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.70.

Clearwater Analytics Stock Up 2.8 %

NYSE:CWAN opened at $17.66 on Thursday. The firm has a market capitalization of $4.32 billion, a PE ratio of -220.75, a price-to-earnings-growth ratio of 6.28 and a beta of 0.50. The stock has a 50 day moving average of $17.01 and a 200-day moving average of $18.68. Clearwater Analytics has a 52 week low of $13.02 and a 52 week high of $21.89. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.11.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $102.70 million for the quarter, compared to analyst estimates of $100.55 million. Clearwater Analytics had a positive return on equity of 1.26% and a negative net margin of 3.90%. Clearwater Analytics’s revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. Analysts predict that Clearwater Analytics will post 0.13 EPS for the current year.

Insider Activity

In other news, CFO James S. Cox sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $19.74, for a total value of $197,400.00. Following the sale, the chief financial officer now directly owns 148,711 shares of the company’s stock, valued at $2,935,555.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $19.74, for a total value of $987,000.00. Following the completion of the sale, the chief executive officer now owns 270,838 shares in the company, valued at $5,346,342.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James S. Cox sold 10,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $19.74, for a total transaction of $197,400.00. Following the completion of the sale, the chief financial officer now owns 148,711 shares of the company’s stock, valued at approximately $2,935,555.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,310,000 shares of company stock valued at $275,809,400. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds have recently made changes to their positions in CWAN. Allspring Global Investments Holdings LLC lifted its stake in Clearwater Analytics by 65.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock worth $67,860,000 after purchasing an additional 1,335,802 shares during the period. Vanguard Group Inc. lifted its stake in Clearwater Analytics by 13.8% during the third quarter. Vanguard Group Inc. now owns 9,450,888 shares of the company’s stock worth $182,780,000 after purchasing an additional 1,148,338 shares during the period. Public Employees Retirement System of Ohio bought a new position in Clearwater Analytics during the third quarter worth about $2,551,000. Raymond James & Associates lifted its stake in Clearwater Analytics by 42.1% during the fourth quarter. Raymond James & Associates now owns 621,031 shares of the company’s stock worth $12,439,000 after purchasing an additional 183,899 shares during the period. Finally, Principal Financial Group Inc. bought a new position in Clearwater Analytics during the third quarter worth about $2,022,000. Institutional investors own 50.10% of the company’s stock.

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.