Morgan Stanley Upgrades Clearwater Analytics (NYSE:CWAN) to Overweight

Clearwater Analytics (NYSE:CWAN) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has a $34.00 price objective on the stock, up from their previous price objective of $30.00. Morgan Stanley’s price objective points to a potential upside of 21.40% from the stock’s current price.

Several other analysts have also recently commented on CWAN. Oppenheimer raised their price objective on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company raised their target price on shares of Clearwater Analytics from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and dropped their target price for the company from $35.00 to $32.00 in a report on Tuesday, January 14th. Piper Sandler raised their target price on shares of Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada dropped their target price on shares of Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

Clearwater Analytics Stock Up 3.4 %

Shares of NYSE CWAN opened at $28.01 on Friday. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics has a 52 week low of $15.62 and a 52 week high of $35.71. The firm has a 50-day moving average price of $29.12 and a 200 day moving average price of $25.69. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 2,803.40, a price-to-earnings-growth ratio of 7.27 and a beta of 0.72.

Insider Activity at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $26.94, for a total value of $503,778.00. Following the completion of the sale, the chief financial officer now directly owns 279,857 shares in the company, valued at approximately $7,539,347.58. The trade was a 6.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $25.89, for a total transaction of $1,294,500.00. Following the transaction, the chief executive officer now directly owns 615,855 shares in the company, 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. Over the last three months, insiders sold 253,052 shares of company stock worth $7,182,724. 4.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Clearwater Analytics during the third quarter valued at approximately $3,677,000. Loomis Sayles & Co. L P increased its stake in Clearwater Analytics by 11.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company’s stock worth $83,186,000 after buying an additional 327,880 shares during the period. Swiss National Bank increased its stake in Clearwater Analytics by 8.5% during the 3rd quarter. Swiss National Bank now owns 312,900 shares of the company’s stock worth $7,901,000 after buying an additional 24,600 shares during the period. Aigen Investment Management LP purchased a new stake in Clearwater Analytics during the 3rd quarter worth $523,000. Finally, Principal Financial Group Inc. increased its stake in Clearwater Analytics by 348.3% during the 3rd quarter. Principal Financial Group Inc. now owns 84,793 shares of the company’s stock worth $2,141,000 after buying an additional 65,878 shares during the period. 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.