Clearwater Analytics (NYSE:CWAN) Rating Increased to Overweight at JPMorgan Chase & Co.

Clearwater Analytics (NYSE:CWAN) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Thursday, FinViz reports. The brokerage presently has a $33.00 target price on the stock, up from their prior target price of $23.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 15.42% from the stock’s previous close.

Several other research firms also recently weighed in on CWAN. Oppenheimer raised their price objective on Clearwater Analytics from $25.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Piper Sandler restated a “neutral” rating and set a $23.00 price target on shares of Clearwater Analytics in a report on Monday, September 9th. Royal Bank of Canada raised their price objective on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Morgan Stanley boosted their target price on shares of Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company raised their price target on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.11.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $28.59 on Thursday. Clearwater Analytics has a twelve month low of $15.62 and a twelve month high of $28.75. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11. The stock’s 50-day simple moving average is $25.48 and its 200 day simple moving average is $21.78. The firm has a market capitalization of $7.04 billion, a PE ratio of -1,429.50, a price-to-earnings-growth ratio of 9.53 and a beta of 0.61.

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

Insider Buying and Selling

In other news, CFO James S. Cox sold 13,700 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 232,503 shares of the company’s stock, valued at $5,496,370.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Subi Sethi sold 21,497 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $24.30, for a total value of $522,377.10. Following the transaction, the insider now directly owns 81,812 shares in the company, valued at $1,988,031.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at approximately $5,496,370.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,864,693 shares of company stock valued at $45,128,342 over the last quarter. Insiders own 3.46% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CWAN. Thornburg Investment Management Inc. grew its holdings in Clearwater Analytics by 31.7% during the first quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock worth $5,860,000 after buying an additional 79,707 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Clearwater Analytics by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock worth $2,323,000 after acquiring an additional 23,971 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Clearwater Analytics in the first quarter valued at about $825,000. Jane Street Group LLC lifted its position in shares of Clearwater Analytics by 234.2% during the first quarter. Jane Street Group LLC now owns 265,818 shares of the company’s stock valued at $4,702,000 after purchasing an additional 186,273 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new position in Clearwater Analytics during the second quarter worth about $1,797,000. 50.10% of the stock is owned by institutional investors.

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.