Clearwater Analytics’ (CWAN) Overweight Rating Reiterated at Morgan Stanley

Morgan Stanley restated their overweight rating on shares of Clearwater Analytics (NYSE:CWAN) in a report published 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 research analysts have also issued reports on the company. Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $28.00 to $36.00 in a research report on Thursday. Royal Bank of Canada upped their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company lifted their target price on shares of Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $23.00 to $33.00 in a research report on Thursday, November 7th. Finally, DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $35.00 to $32.00 in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.80.

Clearwater Analytics Price Performance

Shares of CWAN stock opened at $31.35 on Friday. 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 company has a market capitalization of $7.74 billion, a P/E ratio of 18.88, a P/E/G ratio of 8.23 and a beta of 0.72. The company’s 50-day simple moving average is $28.03 and its two-hundred day simple moving average is $27.18. Clearwater Analytics has a one year low of $15.62 and a one year high of $35.71.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share 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 business had revenue of $126.47 million during the quarter, compared to analysts’ expectations of $120.34 million. As a group, equities analysts anticipate that Clearwater Analytics will post 0.18 EPS for the current year.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CTO Souvik Das sold 76,844 shares of the business’s 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 $2,310,699.08. Following the completion of the transaction, the chief technology officer now directly owns 68,902 shares of the company’s stock, valued at approximately $2,071,883.14. The trade was a 52.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sandeep Sahai sold 218,687 shares of the firm’s 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 sale, the chief executive officer now directly owns 681,588 shares in the company, valued at $20,495,351.16. The trade was a 24.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 733,431 shares of company stock worth $21,444,493 over the last 90 days. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Clearwater Analytics

A number of hedge funds have recently added to or reduced their stakes in CWAN. Wellington Management Group LLP increased its holdings in Clearwater Analytics by 98.2% in the fourth quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock valued at $163,867,000 after buying an additional 2,950,555 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after purchasing an additional 2,931,445 shares in the last quarter. Vanguard Group Inc. raised its holdings in Clearwater Analytics by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock worth $574,607,000 after purchasing an additional 2,455,844 shares during the period. Norges Bank purchased a new position in Clearwater Analytics during the fourth quarter worth approximately $59,402,000. Finally, Champlain Investment Partners LLC purchased a new position in Clearwater Analytics during the third quarter worth approximately $53,559,000. 50.10% of the stock is owned by hedge funds and other 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.