Clearwater Analytics (NYSE:CWAN) Cut to Hold at DA Davidson

DA Davidson cut shares of Clearwater Analytics (NYSE:CWAN) from a buy rating to a hold rating in a research note published on Friday morning, MarketBeat reports. They currently have $24.55 price target on the stock.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Clearwater Analytics in a report on Monday, December 29th. Wall Street Zen lowered Clearwater Analytics from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Loop Capital cut Clearwater Analytics from a “buy” rating to a “hold” rating and decreased their target price for the stock from $25.00 to $24.55 in a report on Monday, December 22nd. JPMorgan Chase & Co. cut their target price on Clearwater Analytics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, Oppenheimer lowered Clearwater Analytics from an “outperform” rating to a “market perform” rating in a research report on Monday, December 22nd. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.93.

Clearwater Analytics Price Performance

NYSE:CWAN opened at $24.27 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.42. The business’s 50-day moving average price is $22.26 and its 200 day moving average price is $20.53. Clearwater Analytics has a 52-week low of $15.73 and a 52-week high of $32.00. The firm has a market cap of $7.10 billion, a P/E ratio of 15.86, a PEG ratio of 3.51 and a beta of 0.66.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business had revenue of $205.11 million during the quarter, compared to analyst estimates of $203.66 million. Clearwater Analytics had a net margin of 61.28% and a return on equity of 2.77%. Clearwater Analytics’s revenue was up 77.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.14 earnings per share. As a group, sell-side analysts predict that Clearwater Analytics will post 0.18 earnings per share for the current fiscal year.

Insider Activity

In other Clearwater Analytics news, CEO Sandeep Sahai sold 134,130 shares of Clearwater Analytics stock in a transaction dated Thursday, January 1st. The stock was sold at an average price of $24.09, for a total transaction of $3,231,191.70. Following the transaction, the chief executive officer owned 1,092,923 shares of the company’s stock, valued at $26,328,515.07. The trade was a 10.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Souvik Das sold 41,594 shares of the stock in a transaction that occurred on Thursday, January 1st. The stock was sold at an average price of $24.09, for a total transaction of $1,001,999.46. Following the completion of the sale, the chief technology officer directly owned 148,224 shares of the company’s stock, valued at $3,570,716.16. This trade represents a 21.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 428,464 shares of company stock valued at $10,139,350 in the last ninety days. Corporate insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

A number of hedge funds and other institutional investors have recently made changes to their positions in CWAN. Vanguard Group Inc. grew its holdings in Clearwater Analytics by 21.9% during the third quarter. Vanguard Group Inc. now owns 33,261,349 shares of the company’s stock valued at $599,370,000 after purchasing an additional 5,967,798 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Clearwater Analytics by 108.7% during the 3rd quarter. Wellington Management Group LLP now owns 17,793,701 shares of the company’s stock worth $320,642,000 after buying an additional 9,268,950 shares during the period. Wasatch Advisors LP boosted its holdings in shares of Clearwater Analytics by 3.0% during the 2nd quarter. Wasatch Advisors LP now owns 9,567,391 shares of the company’s stock worth $209,813,000 after buying an additional 274,664 shares during the period. Bamco Inc. NY grew its stake in Clearwater Analytics by 25.9% in the 3rd quarter. Bamco Inc. NY now owns 7,675,038 shares of the company’s stock valued at $138,304,000 after buying an additional 1,580,323 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in Clearwater Analytics by 83.5% in the 3rd quarter. Blair William & Co. IL now owns 7,134,647 shares of the company’s stock worth $128,566,000 after acquiring an additional 3,245,986 shares during the period. 50.10% of the stock is owned by hedge funds and other institutional investors.

About Clearwater Analytics

Clearwater Analytics LLC is a global provider of web-based investment portfolio accounting, reporting, and analytics solutions. The company’s software-as-a-service platform automates complex processes involved in investment data aggregation, reconciliation, valuation, and regulatory reporting. Serving institutional investors—including insurers, asset managers, corporations, government entities, and asset owners—Clearwater Analytics enables clients to optimize performance visibility, risk management, and operational efficiency.

Founded in 2004 and headquartered in Boise, Idaho, Clearwater Analytics has grown its global footprint with offices across North America, Europe, and the Asia-Pacific region.