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

Clearwater Analytics (NYSE:CWAN)‘s stock had its “overweight” rating restated by research analysts at Morgan Stanley in a report released 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 indicates a potential upside of 14.52% from the company’s current price.

A number of other research firms have also recently weighed in on CWAN. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. The Goldman Sachs Group upped their price objective on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday, November 7th. UBS Group increased their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $23.00 to $33.00 in a research note on Thursday, November 7th. Finally, Wells Fargo & Company increased their price target on shares of Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.80.

Clearwater Analytics Stock Performance

Shares of CWAN stock traded up $1.50 during trading hours on Friday, hitting $31.44. The company’s stock had a trading volume of 2,196,541 shares, compared to its average volume of 2,323,235. The company has a 50 day moving average of $27.99 and a 200 day moving average of $27.05. The stock has a market cap of $7.77 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 7.43 and a beta of 0.72. The company has a current ratio of 4.66, a quick 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.

Clearwater Analytics (NYSE:CWAN) last posted 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). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The firm had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. On average, sell-side analysts forecast 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 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 sale, the chief executive officer now owns 681,588 shares in the company, valued at $20,495,351.16. This represents a 24.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Subi Sethi sold 62,482 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $1,878,833.74. Following the completion of the transaction, the insider now owns 144,973 shares in the company, valued at $4,359,338.11. This trade represents a 30.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 733,431 shares of company stock valued at $21,444,493. 4.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings 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 purchasing an additional 468 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Clearwater Analytics in the third quarter valued at approximately $45,000. Arcadia Investment Management Corp MI acquired a new position in shares of Clearwater Analytics in the fourth quarter valued at approximately $57,000. Financial Management Professionals Inc. acquired a new position in shares of Clearwater Analytics in the third quarter valued at approximately $58,000. Finally, R Squared Ltd acquired a new position in Clearwater Analytics during the fourth quarter worth $80,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

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.