Clearwater Analytics (NYSE:CWAN) Now Covered by The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group assumed coverage on shares of Clearwater Analytics (NYSE:CWAN) in a research report issued to clients and investors on Monday. The brokerage set a “neutral” rating and a $26.00 price target on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 10.64% from the stock’s previous close.

Several other analysts have also issued reports on the company. Piper Sandler reduced their target price on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Royal Bank of Canada lifted their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. initiated coverage on Clearwater Analytics in a research note on Friday, April 25th. They issued an “overweight” rating and a $28.00 price objective on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. Finally, Wells Fargo & Company decreased their price target on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.40.

Clearwater Analytics Trading Down 1.4%

Shares of CWAN stock traded down $0.33 on Monday, reaching $23.50. The company had a trading volume of 109,606 shares, compared to its average volume of 2,301,557. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The stock has a market cap of $6.66 billion, a PE ratio of 14.18, a PEG ratio of 8.23 and a beta of 0.79. The company has a 50-day moving average of $24.31 and a 200-day moving average of $27.34. Clearwater Analytics has a 12 month low of $17.63 and a 12 month high of $35.71.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $126.86 million during the quarter, compared to the consensus estimate of $125.11 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The business’s revenue was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 EPS. On average, equities analysts forecast that Clearwater Analytics will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $24.29, for a total value of $1,214,500.00. Following the completion of the sale, the chief executive officer now owns 876,754 shares of the company’s stock, valued at $21,296,354.66. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Subi Sethi sold 62,482 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $1,878,833.74. Following the transaction, the insider now directly owns 144,973 shares of the company’s stock, valued at $4,359,338.11. This represents a 30.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 644,510 shares of company stock worth $18,311,363 in the last quarter. 3.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Clearwater Analytics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in shares of Clearwater Analytics by 1,600.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company’s stock valued at $39,690,000 after purchasing an additional 1,357,425 shares during the period. Alliancebernstein L.P. grew its stake in shares of Clearwater Analytics by 66.0% during the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after acquiring an additional 2,931,445 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Clearwater Analytics during the 4th quarter valued at approximately $1,112,000. Stephens Investment Management Group LLC grew its stake in shares of Clearwater Analytics by 189.5% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock valued at $34,926,000 after acquiring an additional 830,684 shares during the period. Finally, Moody Aldrich Partners LLC lifted its stake in shares of Clearwater Analytics by 32.4% during the 4th quarter. Moody Aldrich Partners LLC now owns 386,424 shares of the company’s stock valued at $10,634,000 after buying an additional 94,454 shares in the last quarter. 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.