Clearwater Analytics (NYSE:CWAN) Raised to Overweight at Morgan Stanley

Clearwater Analytics (NYSE:CWAN) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Friday,Benzinga reports. The firm currently has a $34.00 price target on the stock, up from their prior price target of $30.00. Morgan Stanley’s price target points to a potential upside of 25.56% from the company’s current price.

CWAN has been the topic of a number of other research reports. The Goldman Sachs Group lifted their price target on Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Oppenheimer lifted their target price on Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. DA Davidson raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $35.00 to $32.00 in a research report on Tuesday. Piper Sandler boosted their price objective on shares of Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company increased 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. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

Clearwater Analytics Price Performance

NYSE CWAN opened at $27.08 on Friday. 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 1 year low of $15.62 and a 1 year high of $35.71. The company has a market cap of $6.69 billion, a PE ratio of 2,710.61, a PEG ratio of 7.27 and a beta of 0.72. The stock’s 50-day moving average price is $29.20 and its two-hundred day moving average price is $25.58.

Insiders Place Their Bets

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $29.07, for a total value of $113,082.30. Following the transaction, the executive now directly owns 6,373 shares of the company’s stock, valued at approximately $185,263.11. This trade represents a 37.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $25.89, for a total value of $1,294,500.00. Following the completion of the sale, the chief executive officer now owns 615,855 shares of the company’s stock, valued at approximately $15,944,485.95. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 234,352 shares of company stock valued at $6,678,946 over the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after buying an additional 468 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Clearwater Analytics during the 3rd quarter worth $45,000. Financial Management Professionals Inc. bought a new stake in Clearwater Analytics during the third quarter valued at about $58,000. Benjamin F. Edwards & Company Inc. grew its position in shares of Clearwater Analytics by 124.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock valued at $81,000 after purchasing an additional 2,425 shares during the last quarter. Finally, Amalgamated Bank bought a new position in shares of Clearwater Analytics in the second quarter worth about $90,000. Institutional investors 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.