Clearwater Analytics (NYSE:CWAN) Upgraded by Morgan Stanley to “Overweight” Rating

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

A number of other equities research analysts also recently weighed in on CWAN. Piper Sandler boosted their price target on Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on Clearwater Analytics from $20.00 to $22.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Oppenheimer upped 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. Wells Fargo & Company lifted their price target on shares of Clearwater Analytics from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada dropped their price objective on shares of Clearwater Analytics from $36.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Clearwater Analytics has an average rating of “Moderate Buy” and a consensus price target of $31.33.

Clearwater Analytics Stock Performance

NYSE CWAN opened at $27.08 on Friday. The company’s fifty day moving average is $29.20 and its two-hundred day moving average is $25.58. Clearwater Analytics has a 52-week low of $15.62 and a 52-week high of $35.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 2,710.61, a P/E/G ratio of 7.27 and a beta of 0.72.

Insider Activity

In related news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $30.34, for a total transaction of $567,358.00. Following the completion of the sale, the chief financial officer now directly owns 219,044 shares of the company’s stock, valued at $6,645,794.96. This trade represents a 7.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Scott Stanley Erickson sold 3,890 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $31.34, for a total value of $121,912.60. Following the completion of the transaction, the executive now directly owns 6,373 shares in the company, valued at approximately $199,729.82. This represents a 37.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 234,352 shares of company stock worth $6,678,946. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hood River Capital Management LLC bought a new stake in Clearwater Analytics during the 2nd quarter worth about $43,280,000. Champlain Investment Partners LLC acquired a new position in shares of Clearwater Analytics during the third quarter worth approximately $53,559,000. State Street Corp lifted its position in shares of Clearwater Analytics by 38.7% during the third quarter. State Street Corp now owns 3,617,462 shares of the company’s stock worth $91,341,000 after purchasing an additional 1,009,548 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of Clearwater Analytics by 3.2% during the third quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock valued at $457,909,000 after purchasing an additional 559,564 shares during the last quarter. Finally, Stephens Investment Management Group LLC acquired a new stake in shares of Clearwater Analytics in the third quarter valued at approximately $11,071,000. 50.10% of the stock is owned by institutional investors.

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.