Clearwater Analytics (NYSE:CWAN) Receives “Equal Weight” Rating from Morgan Stanley

Morgan Stanley reissued their equal weight rating on shares of Clearwater Analytics (NYSE:CWAN) in a report published on Thursday, Benzinga reports. They currently have a $19.00 price objective on the stock.

A number of other equities research analysts have also issued reports on CWAN. JPMorgan Chase & Co. cut their price target on Clearwater Analytics from $22.00 to $20.00 and set a neutral rating for the company in a research note 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. DA Davidson restated a buy rating and issued a $24.00 price target on shares of Clearwater Analytics in a research note on Monday, February 5th. Finally, Piper Sandler reiterated a neutral rating and set a $20.00 price objective on shares of Clearwater Analytics in a research report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $21.70.

Clearwater Analytics Stock Up 2.9 %

CWAN stock opened at $17.67 on Thursday. The business’s 50-day moving average price is $17.01 and its 200-day moving average price is $18.66. The stock has a market cap of $4.32 billion, a P/E ratio of -220.88, a PEG 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 twelve month low of $13.02 and a twelve month high of $21.89.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $102.70 million for 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 in the previous year, the firm earned $0.07 earnings per share. On average, equities research analysts forecast that Clearwater Analytics will post 0.11 EPS for the current year.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of Clearwater Analytics stock in a transaction on Monday, March 11th. The shares were sold at an average price of $16.90, for a total value of $274,625,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $19.74, for a total value of $987,000.00. Following the completion of the sale, the chief executive officer now owns 270,838 shares of the company’s stock, valued at $5,346,342.12. The disclosure for this sale can be found here. Insiders have sold a total of 16,310,000 shares of company stock valued at $275,809,400 over the last 90 days. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Clearwater Analytics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CWAN. Bank of New York Mellon Corp raised its holdings in shares of Clearwater Analytics by 5.2% in the third quarter. Bank of New York Mellon Corp now owns 588,559 shares of the company’s stock worth $11,383,000 after buying an additional 29,039 shares during the period. Brown Advisory Inc. purchased a new stake in Clearwater Analytics in the third quarter worth $8,112,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Clearwater Analytics by 45.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,913 shares of the company’s stock worth $366,000 after purchasing an additional 5,893 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Clearwater Analytics by 14.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,052,126 shares of the company’s stock valued at $39,688,000 after purchasing an additional 257,515 shares during the period. Finally, Conestoga Capital Advisors LLC grew its holdings in shares of Clearwater Analytics by 2.7% in the third quarter. Conestoga Capital Advisors LLC now owns 6,376,562 shares of the company’s stock worth $123,323,000 after purchasing an additional 166,745 shares during the last quarter. 50.10% of the stock is owned by hedge funds and other institutional investors.

About Clearwater Analytics

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.