Clearwater Analytics (NYSE:CWAN) Downgraded to “Neutral” Rating by DA Davidson

Clearwater Analytics (NYSE:CWAN) was downgraded by equities research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a note issued to investors on Friday,Briefing.com Automated Import reports. They currently have a $35.00 price objective on the stock, up from their previous price objective of $31.00. DA Davidson’s price objective points to a potential upside of 6.81% from the stock’s current price.

A number of other brokerages have also issued reports on CWAN. Wells Fargo & Company upped their price objective on shares of Clearwater Analytics from $23.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley upped their price objective on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Oppenheimer increased their target price on shares of Clearwater Analytics from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday. The Goldman Sachs Group increased their target price on shares of Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $23.00 to $33.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.67.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $32.77 on Friday. Clearwater Analytics has a fifty-two week low of $15.62 and a fifty-two week high of $35.71. The stock has a market capitalization of $8.07 billion, a PE ratio of -1,638.50, a P/E/G ratio of 9.53 and a beta of 0.61. The company has a fifty day moving average of $25.64 and a two-hundred day moving average of $21.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78.

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

Insider Activity at Clearwater Analytics

In related 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 value of $323,868.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $24.44, for a total value of $457,028.00. Following the transaction, the chief financial officer now directly owns 227,503 shares in the company, valued at $5,560,173.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James S. Cox sold 13,700 shares of the 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 transaction, the chief financial officer now owns 232,503 shares in the company, valued at $5,496,370.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,864,693 shares of company stock valued at $45,128,342 over the last 90 days. 3.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Clearwater Analytics

Several hedge funds have recently added to or reduced their stakes in CWAN. Advisors Asset Management Inc. grew its position in shares of 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 acquiring an additional 1,234 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Clearwater Analytics in the third quarter valued at $45,000. Financial Management Professionals Inc. acquired a new stake in Clearwater Analytics in the third quarter valued at $58,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Clearwater Analytics by 124.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock worth $81,000 after buying an additional 2,425 shares during the last quarter. Finally, Amalgamated Bank acquired a new position in shares of Clearwater Analytics during the 2nd quarter worth $90,000. 50.10% of the stock is currently owned by hedge funds and other 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.