Morgan Stanley Reiterates Overweight Rating for Clearwater Analytics (NYSE:CWAN)

Clearwater Analytics (NYSE:CWAN)‘s stock had its “overweight” rating reaffirmed by investment analysts at Morgan Stanley in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $36.00 price target on the stock, up from their prior price target of $34.00. Morgan Stanley’s target price would indicate a potential upside of 14.85% from the company’s previous close.

A number of other research analysts have also weighed in on CWAN. Piper Sandler upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $28.00 to $36.00 in a research note on Thursday. Royal Bank of Canada lifted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday. Wells Fargo & Company lifted their price objective on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $23.00 to $33.00 in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.80.

Clearwater Analytics Trading Up 4.7 %

Shares of CWAN stock opened at $31.35 on Friday. The company has a 50 day moving average of $28.03 and a 200-day moving average of $27.14. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $35.71. The firm has a market cap of $7.74 billion, a P/E ratio of 18.88, a PEG ratio of 8.23 and a beta of 0.72.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The company had revenue of $126.47 million for the quarter, compared to analysts’ expectations of $120.34 million. Sell-side analysts anticipate that Clearwater Analytics will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $26.94, for a total transaction of $503,778.00. Following the completion of the sale, the chief financial officer now directly owns 279,857 shares of the company’s stock, valued at approximately $7,539,347.58. The trade was a 6.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sandeep Sahai sold 139,172 shares of Clearwater Analytics stock in a transaction on Monday, December 9th. The stock was sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the sale, the chief executive officer now directly owns 441,724 shares of the company’s stock, valued at $12,783,492.56. This represents a 23.96 % 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 in the last three months. Company insiders own 4.60% of the company’s stock.

Institutional Trading of Clearwater Analytics

A number of hedge funds have recently made changes to their positions in the stock. Chartwell Investment Partners LLC lifted its holdings in shares of Clearwater Analytics by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company’s stock worth $1,233,000 after acquiring an additional 395 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 468 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Clearwater Analytics by 3.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,035 shares of the company’s stock worth $469,000 after acquiring an additional 502 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Clearwater Analytics by 11.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,158 shares of the company’s stock worth $142,000 after acquiring an additional 521 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in shares of Clearwater Analytics by 5.5% during the 3rd quarter. IHT Wealth Management LLC now owns 11,416 shares of the company’s stock worth $288,000 after acquiring an additional 598 shares during the last quarter. 50.10% of the stock is owned by institutional investors.

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.