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

Clearwater Analytics (NYSE:CWAN)‘s stock had its “overweight” rating reaffirmed by research analysts at Morgan Stanley in a research note issued on Friday,Benzinga reports. They currently have a $36.00 target price on the stock, up from their prior target price of $34.00. Morgan Stanley’s target price points to a potential upside of 14.52% from the stock’s current price.

Several other research firms have also recently weighed in on CWAN. Piper Sandler raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $28.00 to $36.00 in a report on Thursday. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $23.00 to $33.00 in a report on Thursday, November 7th. Royal Bank of Canada boosted 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 boosted their price objective on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Oppenheimer boosted their price objective on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.80.

Clearwater Analytics Stock Up 5.0 %

Clearwater Analytics stock traded up $1.50 during trading hours on Friday, hitting $31.44. The stock had a trading volume of 2,196,541 shares, compared to its average volume of 2,323,235. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $7.77 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 7.43 and a beta of 0.72. Clearwater Analytics has a 12-month low of $15.62 and a 12-month high of $35.71. The stock’s 50-day moving average price is $27.99 and its 200-day moving average price is $27.05.

Clearwater Analytics (NYSE:CWAN) last issued its 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). The firm had revenue of $126.47 million during the quarter, compared to analysts’ expectations of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. Equities research analysts anticipate that Clearwater Analytics will post 0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sandeep Sahai sold 218,687 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $6,575,918.09. Following the completion of the transaction, the chief executive officer now owns 681,588 shares in the company, valued at approximately $20,495,351.16. This represents a 24.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Scott Stanley Erickson sold 76,256 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $2,293,017.92. Following the transaction, the executive now owns 78,363 shares of the company’s stock, valued at $2,356,375.41. This trade represents a 49.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 733,431 shares of company stock worth $21,444,493 over the last three months. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after acquiring an additional 468 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in Clearwater Analytics in the 3rd quarter worth about $45,000. Arcadia Investment Management Corp MI bought a new position in Clearwater Analytics during the 4th quarter worth about $57,000. Financial Management Professionals Inc. bought a new position in Clearwater Analytics during the 3rd quarter worth about $58,000. Finally, R Squared Ltd bought a new position in Clearwater Analytics during the 4th quarter worth about $80,000. Institutional investors own 50.10% of the company’s stock.

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.