Clearwater Analytics (NYSE:CWAN) Rating Increased to Outperform at Oppenheimer

Clearwater Analytics (NYSE:CWAN) was upgraded by investment analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage presently has a $25.00 target price on the stock. Oppenheimer’s price target indicates a potential upside of 33.33% from the company’s current price.

CWAN has been the subject of several other reports. JPMorgan Chase & Co. dropped their price target on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $19.00 target price on shares of Clearwater Analytics in a report on Thursday, May 2nd. Finally, Wells Fargo & Company reduced their price target on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Clearwater Analytics currently has an average rating of “Moderate Buy” and an average target price of $22.00.

Clearwater Analytics Stock Down 1.8 %

CWAN stock opened at $18.75 on Monday. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of -234.38, a price-to-earnings-growth ratio of 7.43 and a beta of 0.57. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.59 and a current ratio of 5.59. The business’s 50 day moving average price is $18.81 and its two-hundred day moving average price is $18.42. Clearwater Analytics has a fifty-two week low of $15.35 and a fifty-two week high of $21.89.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data 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 business had revenue of $102.70 million during the quarter, compared to the consensus estimate of $100.55 million. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 earnings per share. As a group, analysts forecast that Clearwater Analytics will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In other Clearwater Analytics news, CFO James S. Cox sold 6,275 shares of Clearwater Analytics stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $20.10, for a total value of $126,127.50. Following the completion of the sale, the chief financial officer now owns 235,962 shares of the company’s stock, valued at approximately $4,742,836.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO James S. Cox sold 6,275 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $20.10, for a total transaction of $126,127.50. Following the completion of the sale, the chief financial officer now directly owns 235,962 shares in the company, valued at $4,742,836.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Warburg Pincus Llc sold 7,000,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $19.71, for a total value of $137,970,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,193,079 shares of company stock valued at $141,831,984 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clearwater Analytics

A number of hedge funds have recently made changes to their positions in CWAN. Advisors Asset Management Inc. increased its holdings in Clearwater Analytics by 268.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after acquiring an additional 1,234 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Clearwater Analytics by 389.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after purchasing an additional 1,549 shares during the last quarter. Eagle Bay Advisors LLC lifted its position in shares of Clearwater Analytics by 213.3% in the fourth quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock worth $36,000 after buying an additional 1,207 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Clearwater Analytics by 33.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,442 shares of the company’s stock valued at $49,000 after buying an additional 616 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Clearwater Analytics during the 4th quarter valued at approximately $90,000. 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.