Clearwater Analytics (NYSE:CWAN) Stock Rating Reaffirmed by Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Clearwater Analytics (NYSE:CWAN) in a research note published on Thursday, Benzinga reports. The firm currently has a $19.00 price target on the stock.

Other equities analysts have also recently issued research reports about the stock. DA Davidson reaffirmed a buy rating and set a $24.00 price objective on shares of Clearwater Analytics in a research report on Monday, February 5th. JPMorgan Chase & Co. lowered their price target on Clearwater Analytics from $22.00 to $20.00 and set a neutral rating for the company in a research report on Thursday. Wells Fargo & Company decreased their target price on Clearwater Analytics from $24.00 to $22.00 and set an overweight rating on the stock in a research note on Thursday. Finally, Piper Sandler restated a neutral rating and set a $20.00 target price on shares of Clearwater Analytics in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $21.70.

Clearwater Analytics Price Performance

NYSE:CWAN opened at $17.67 on Thursday. The company has a market capitalization of $4.32 billion, a P/E ratio of -220.88, a P/E/G ratio of 7.01 and a beta of 0.50. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.11. Clearwater Analytics has a 52 week low of $13.02 and a 52 week high of $21.89. The stock’s fifty day moving average is $17.01 and its two-hundred day moving average is $18.66.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $102.70 million for the quarter, compared to analyst estimates of $100.55 million. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.26%. Clearwater Analytics’s revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS. Equities analysts expect that Clearwater Analytics will post 0.11 EPS for the current year.

Insiders Place Their Bets

In other news, CFO James S. Cox sold 10,000 shares of Clearwater Analytics stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $19.74, for a total value of $197,400.00. Following the completion of the transaction, the chief financial officer now owns 148,711 shares in the company, valued at approximately $2,935,555.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $19.74, for a total transaction of $987,000.00. Following the completion of the transaction, the chief executive officer now owns 270,838 shares in the company, valued at $5,346,342.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO James S. Cox sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $19.74, for a total value of $197,400.00. Following the completion of the sale, the chief financial officer now owns 148,711 shares in the company, valued at $2,935,555.14. The disclosure for this sale can be found here. Insiders have sold a total of 16,310,000 shares of company stock worth $275,809,400 in the last quarter. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CWAN. Wellington Shields Capital Management LLC purchased a new stake in Clearwater Analytics during the first quarter worth approximately $283,000. Wellington Shields & Co. LLC purchased a new stake in shares of Clearwater Analytics during the first quarter worth approximately $177,000. RiverPark Advisors LLC lifted its holdings in shares of Clearwater Analytics by 361.0% during the first quarter. RiverPark Advisors LLC now owns 5,366 shares of the company’s stock worth $95,000 after purchasing an additional 4,202 shares during the period. Capstone Investment Advisors LLC grew its position in Clearwater Analytics by 111.6% in the 1st quarter. Capstone Investment Advisors LLC now owns 68,710 shares of the company’s stock valued at $1,215,000 after buying an additional 36,241 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Clearwater Analytics by 28.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,359,848 shares of the company’s stock valued at $77,126,000 after buying an additional 971,920 shares during the last quarter. Hedge funds and other 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.