Clearwater Analytics (NYSE:CWAN) Given Overweight Rating at Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of Clearwater Analytics (NYSE:CWAN) in a report issued on Friday morning,Benzinga reports. The firm currently has a $36.00 target price on the stock, up from their prior target price of $34.00.

Several other brokerages also recently issued reports on CWAN. Oppenheimer increased their price target on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Royal Bank of Canada raised their price target on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday. DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their price target for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price target for the company from $23.00 to $33.00 in a research note on Thursday, November 7th. Finally, Wells Fargo & Company raised their price target on Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Clearwater Analytics has an average rating of “Moderate Buy” and an average price target of $33.80.

Clearwater Analytics Stock Performance

Shares of NYSE:CWAN opened at $31.35 on Friday. The business’s fifty day moving average price is $28.03 and its two-hundred day moving average price is $27.11. 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 $7.74 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 7.43 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. As a group, analysts predict that Clearwater Analytics will post 0.18 EPS for the current fiscal year.

Insider Activity

In related news, CEO Sandeep Sahai sold 218,687 shares of Clearwater Analytics stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $6,575,918.09. Following the completion of the sale, the chief executive officer now directly owns 681,588 shares of the company’s stock, valued at approximately $20,495,351.16. This trade represents a 24.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Subi Sethi sold 62,482 shares of Clearwater Analytics stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $1,878,833.74. Following the sale, the insider now directly owns 144,973 shares of the company’s stock, valued at approximately $4,359,338.11. The trade was a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 733,431 shares of company stock valued at $21,444,493 over the last three months. Insiders own 4.60% of the company’s stock.

Institutional Trading of Clearwater Analytics

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Clearwater Analytics by 57.4% during the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after purchasing an additional 468 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Clearwater Analytics during the 3rd quarter worth $45,000. Arcadia Investment Management Corp MI bought a new position in Clearwater Analytics during the 4th quarter worth $57,000. Financial Management Professionals Inc. bought a new position in Clearwater Analytics during the 3rd quarter worth $58,000. Finally, R Squared Ltd bought a new position in Clearwater Analytics during the 4th quarter worth $80,000. 50.10% of the stock is owned by institutional investors and hedge funds.

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.