Clearwater Analytics (NYSE:CWAN) Rating Reiterated by Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Clearwater Analytics (NYSE:CWAN) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $19.00 target price on the stock.

Several other research firms have also recently weighed in on CWAN. DA Davidson reiterated a buy rating and set a $24.00 price objective on shares of Clearwater Analytics in a research report on Monday, February 5th. Wells Fargo & Company lowered their price objective on Clearwater Analytics from $24.00 to $22.00 and set an overweight rating for the company in a research report on Thursday. Piper Sandler reaffirmed a neutral rating and set a $20.00 target price on shares of Clearwater Analytics in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. dropped their price target on Clearwater Analytics from $22.00 to $20.00 and set a neutral rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Clearwater Analytics has an average rating of Moderate Buy and a consensus target price of $21.70.

Clearwater Analytics Price Performance

CWAN stock traded up $0.49 during midday trading on Thursday, reaching $17.67. 1,563,888 shares of the stock were exchanged, compared to its average volume of 1,079,200. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.15 and a quick ratio of 5.15. The stock has a market capitalization of $4.32 billion, a PE ratio of -220.88, a P/E/G ratio of 7.01 and a beta of 0.50. Clearwater Analytics has a 52 week low of $13.02 and a 52 week high of $21.89. The company has a fifty day moving average price of $17.01 and a 200 day moving average price of $18.67.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $100.55 million. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.26%. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. As a group, analysts expect that Clearwater Analytics will post 0.11 EPS for the current fiscal year.

Insider Activity

In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $16.90, for a total transaction of $274,625,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $16.90, for a total transaction of $274,625,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James S. Cox sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 148,711 shares in the company, valued at approximately $2,935,555.14. The disclosure for this sale can be found here. Insiders sold a total of 16,310,000 shares of company stock worth $275,809,400 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Clearwater Analytics

Several institutional investors and hedge funds have recently made changes to their positions in CWAN. Allspring Global Investments Holdings LLC grew its stake in Clearwater Analytics by 65.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock valued at $67,860,000 after purchasing an additional 1,335,802 shares during the period. Vanguard Group Inc. boosted its stake in Clearwater Analytics by 13.8% in the third quarter. Vanguard Group Inc. now owns 9,450,888 shares of the company’s stock valued at $182,780,000 after acquiring an additional 1,148,338 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Clearwater Analytics during the 3rd quarter valued at approximately $2,551,000. Raymond James & Associates increased its stake in shares of Clearwater Analytics by 42.1% during the 4th quarter. Raymond James & Associates now owns 621,031 shares of the company’s stock worth $12,439,000 after purchasing an additional 183,899 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Clearwater Analytics in the 3rd quarter worth approximately $2,022,000. 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.