JPMorgan Chase & Co. Trims Clearwater Analytics (NYSE:CWAN) Target Price to $20.00

Clearwater Analytics (NYSE:CWAN) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $22.00 to $20.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 15.81% from the company’s current price.

CWAN has been the subject of several other reports. Wells Fargo & Company reduced their target price on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday. DA Davidson restated a “buy” rating and set a $24.00 target price on shares of Clearwater Analytics in a research report on Monday, February 5th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $20.00 price objective on shares of Clearwater Analytics in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.80.

Clearwater Analytics Stock Performance

Shares of NYSE CWAN traded up $1.45 during mid-day trading on Thursday, hitting $17.27. The company had a trading volume of 1,039,730 shares, compared to its average volume of 1,209,115. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of -156.27, a P/E/G ratio of 6.26 and a beta of 0.50. Clearwater Analytics has a 1 year low of $13.02 and a 1 year high of $21.89. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average price is $17.11 and its 200-day moving average price is $18.70.

Insider Buying and Selling

In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $16.90, for a total transaction of $274,625,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO James S. Cox sold 10,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $19.74, for a total transaction of $197,400.00. Following the transaction, the chief financial officer now directly owns 148,711 shares of the company’s stock, valued at approximately $2,935,555.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $16.90, for a total value of $274,625,000.00. The disclosure for this sale can be found here. Insiders have sold 16,310,000 shares of company stock worth $275,809,400 in the last 90 days. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in Clearwater Analytics by 65.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock worth $67,860,000 after purchasing an additional 1,335,802 shares during the period. Vanguard Group Inc. raised its holdings in Clearwater Analytics by 13.8% in the 3rd quarter. Vanguard Group Inc. now owns 9,450,888 shares of the company’s stock worth $182,780,000 after purchasing an additional 1,148,338 shares during the period. Public Employees Retirement System of Ohio bought a new position in Clearwater Analytics in the 3rd quarter worth $2,551,000. Raymond James & Associates raised its holdings in Clearwater Analytics by 42.1% during the fourth quarter. Raymond James & Associates now owns 621,031 shares of the company’s stock valued at $12,439,000 after acquiring an additional 183,899 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in Clearwater Analytics during the third quarter valued at about $2,022,000. 50.10% of the stock is owned by 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.