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

Morgan Stanley restated their overweight rating on shares of Clearwater Analytics (NYSE:CWAN) in a research report released on Friday morning,Benzinga reports. Morgan Stanley currently has a $36.00 target price on the stock, up from their previous target price of $34.00.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada lifted 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. The Goldman Sachs Group boosted their price objective on Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Oppenheimer boosted their price objective on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. UBS Group boosted their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company boosted their price objective on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.80.

Clearwater Analytics Trading Up 4.7 %

Shares of CWAN opened at $31.35 on Friday. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.71. The business’s fifty day moving average is $28.03 and its 200-day moving average is $27.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 7.43 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 net margin of 93.97% and a return on equity of 7.11%. The business had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. Equities analysts anticipate that Clearwater Analytics will post 0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $26.94, for a total value of $503,778.00. Following the transaction, the chief financial officer now directly owns 279,857 shares of the company’s stock, valued at $7,539,347.58. The trade was a 6.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $25.89, for a total value of $1,294,500.00. Following the completion of the transaction, the chief executive officer now directly owns 615,855 shares in the company, valued at $15,944,485.95. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 733,431 shares of company stock valued at $21,444,493. 4.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CWAN. Wellington Management Group LLP lifted its stake in shares of Clearwater Analytics by 98.2% in the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock valued at $163,867,000 after purchasing an additional 2,950,555 shares during the period. Alliancebernstein L.P. lifted 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 during the period. Vanguard Group Inc. lifted its stake in shares of Clearwater Analytics by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock valued at $574,607,000 after purchasing an additional 2,455,844 shares during the period. Norges Bank acquired a new position in shares of Clearwater Analytics in the 4th quarter valued at about $59,402,000. Finally, Champlain Investment Partners LLC acquired a new position in shares of Clearwater Analytics in the 3rd quarter valued at about $53,559,000. 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.