Clearwater Analytics (NYSE:CWAN) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Clearwater Analytics (NYSE:CWAN) from an equal weight rating to an overweight rating in a research report report published on Friday morning, MarketBeat Ratings reports. They currently have $34.00 target price on the stock, up from their prior target price of $30.00.

Several other research firms also recently commented on CWAN. Oppenheimer raised their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company raised their target price on shares of Clearwater Analytics from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Piper Sandler boosted their price target on Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $23.00 to $33.00 in a report on Thursday, November 7th. Finally, Royal Bank of Canada lowered their target price on Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Clearwater Analytics currently has an average rating of “Moderate Buy” and an average price target of $31.33.

Clearwater Analytics Price Performance

NYSE:CWAN opened at $28.01 on Friday. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 2,803.40, a PEG ratio of 7.27 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. The business has a 50 day simple moving average of $29.12 and a 200-day simple moving average of $25.74. Clearwater Analytics has a 1 year low of $15.62 and a 1 year high of $35.71.

Insider Buying and Selling

In related news, CFO James S. Cox sold 18,700 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $30.34, for a total value of $567,358.00. Following the transaction, the chief financial officer now directly owns 219,044 shares of the company’s stock, valued at $6,645,794.96. This trade represents a 7.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $31.34, for a total value of $121,912.60. Following the sale, the executive now owns 6,373 shares in the company, valued at $199,729.82. This trade represents a 37.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 253,052 shares of company stock valued at $7,182,724. Corporate 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 stock. Nisa Investment Advisors LLC increased its holdings in Clearwater Analytics by 174.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock valued at $86,000 after buying an additional 1,987 shares in the last quarter. Jackson Square Capital LLC acquired a new stake in shares of Clearwater Analytics in the 4th quarter worth approximately $558,000. Park Avenue Securities LLC purchased a new position in Clearwater Analytics in the 4th quarter valued at approximately $345,000. GAMMA Investing LLC raised its holdings in Clearwater Analytics by 57.4% during the fourth 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. Finally, Principal Financial Group Inc. boosted its position in Clearwater Analytics by 348.3% during the third quarter. Principal Financial Group Inc. now owns 84,793 shares of the company’s stock worth $2,141,000 after purchasing an additional 65,878 shares in the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

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.