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 research note published on Thursday morning, Benzinga reports. They currently have a $19.00 price objective on the stock.

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

Clearwater Analytics Trading Up 2.9 %

NYSE CWAN traded up $0.49 during mid-day 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 business’s fifty day simple moving average is $17.01 and its 200 day simple moving average is $18.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.15 and a current ratio of 5.15. The stock has a market capitalization of $4.32 billion, a PE ratio of -220.75, a PEG ratio of 6.82 and a beta of 0.50. Clearwater Analytics has a 1-year low of $13.02 and a 1-year high of $21.89.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $102.70 million for the quarter, compared to analysts’ expectations of $100.55 million. Clearwater Analytics had a positive return on equity of 1.26% and a negative net margin of 3.90%. The business’s revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. On average, research analysts anticipate that Clearwater Analytics will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Clearwater Analytics news, CFO James S. Cox sold 10,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 148,711 shares of the company’s stock, valued at $2,935,555.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Clearwater Analytics news, CFO James S. Cox sold 10,000 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of Clearwater Analytics stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last three months, insiders sold 16,310,000 shares of company stock valued at $275,809,400. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Clearwater Analytics

Large investors have recently modified their holdings of the business. Wasatch Advisors LP boosted its holdings in Clearwater Analytics by 35.6% in the first quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock valued at $289,962,000 after purchasing an additional 4,304,286 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Clearwater Analytics by 36.6% in the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock valued at $258,628,000 after purchasing an additional 3,461,158 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Clearwater Analytics by 1.2% during the 1st quarter. Conestoga Capital Advisors LLC now owns 6,506,247 shares of the company’s stock valued at $115,096,000 after buying an additional 79,880 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Clearwater Analytics by 0.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,933,075 shares of the company’s stock worth $114,746,000 after buying an additional 30,771 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Clearwater Analytics by 28.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,359,848 shares of the company’s stock worth $77,126,000 after buying an additional 971,920 shares during the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

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.