Clearwater Analytics (NYSE:CWAN) Cut to Hold at Royal Bank Of Canada

Royal Bank Of Canada cut shares of Clearwater Analytics (NYSE:CWAN) from a moderate buy rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

CWAN has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their target price on Clearwater Analytics from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. William Blair restated a “market perform” rating on shares of Clearwater Analytics in a report on Monday, December 22nd. Wall Street Zen cut shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Wells Fargo & Company cut shares of Clearwater Analytics from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $27.00 to $24.55 in a research report on Thursday, January 8th. Finally, UBS Group downgraded shares of Clearwater Analytics from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $30.00 to $24.55 in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.17.

Clearwater Analytics Trading Down 0.2%

NYSE CWAN opened at $23.41 on Wednesday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.40. The stock’s 50-day simple moving average is $23.87 and its two-hundred day simple moving average is $21.05. Clearwater Analytics has a twelve month low of $15.73 and a twelve month high of $31.49. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of -167.19, a PEG ratio of 3.26 and a beta of 0.66.

Insider Transactions at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 74,530 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $23.44, for a total transaction of $1,746,983.20. Following the transaction, the executive owned 138,630 shares in the company, valued at $3,249,487.20. The trade was a 34.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Souvik Das sold 88,848 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $23.44, for a total value of $2,082,597.12. Following the transaction, the chief technology officer directly owned 207,132 shares of the company’s stock, valued at $4,855,174.08. The trade was a 30.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,002,699 shares of company stock valued at $23,692,518. Company insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

Hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC boosted its position in shares of Clearwater Analytics by 46.4% in the 2nd quarter. Intech Investment Management LLC now owns 157,281 shares of the company’s stock worth $3,449,000 after purchasing an additional 49,845 shares in the last quarter. Future Fund LLC bought a new position in Clearwater Analytics during the 2nd quarter valued at approximately $732,000. Hillsdale Investment Management Inc. raised its stake in Clearwater Analytics by 28.0% during the second quarter. Hillsdale Investment Management Inc. now owns 190,950 shares of the company’s stock valued at $4,188,000 after buying an additional 41,800 shares during the last quarter. Segall Bryant & Hamill LLC boosted its holdings in Clearwater Analytics by 20.4% in the second quarter. Segall Bryant & Hamill LLC now owns 384,634 shares of the company’s stock worth $8,435,000 after acquiring an additional 65,141 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Clearwater Analytics by 8.2% during the second quarter. Swiss National Bank now owns 447,996 shares of the company’s stock valued at $9,825,000 after acquiring an additional 33,896 shares in the last quarter. 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.