Morgan Stanley Reaffirms Equal Weight Rating for Clearwater Analytics (NYSE:CWAN)

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. Morgan Stanley currently has a $19.00 price objective on the stock.

Several other research analysts have also commented on the stock. DA Davidson restated a buy rating and issued a $24.00 price target on shares of Clearwater Analytics in a report on Monday, February 5th. Wells Fargo & Company cut their target price on shares of Clearwater Analytics from $24.00 to $22.00 and set an overweight rating on the stock in a research note on Thursday. Piper Sandler reaffirmed a neutral rating and set a $20.00 price target on shares of Clearwater Analytics in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. cut their price objective on Clearwater Analytics from $22.00 to $20.00 and set a neutral rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Clearwater Analytics has an average 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 trading hours on Thursday, reaching $17.67. 1,563,888 shares of the company were exchanged, compared to its average volume of 1,079,200. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of -220.88, a PEG ratio of 7.01 and a beta of 0.50. The stock has a 50 day simple moving average of $17.01 and a 200 day simple moving average of $18.67. Clearwater Analytics has a 52-week low of $13.02 and a 52-week high of $21.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.15 and a quick ratio of 5.15.

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

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the firm’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 is accessible through the SEC website. In related 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 value of $274,625,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James S. Cox sold 10,000 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 transaction 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 disclosure for this sale can be found here. Insiders sold a total of 16,310,000 shares of company stock valued at $275,809,400 in the last ninety days. Insiders own 2.10% of the company’s stock.

Institutional Trading of Clearwater Analytics

Institutional investors and hedge funds have recently bought and sold shares of the company. Eagle Bay Advisors LLC lifted its position in shares of Clearwater Analytics by 213.3% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock worth $36,000 after buying an additional 1,207 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Clearwater Analytics by 389.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after acquiring an additional 1,549 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Clearwater Analytics by 33.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,442 shares of the company’s stock worth $49,000 after acquiring an additional 616 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in Clearwater Analytics in the fourth quarter valued at approximately $90,000. Finally, RiverPark Advisors LLC grew 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 valued at $95,000 after purchasing an additional 4,202 shares during the last quarter. Institutional investors and hedge funds 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.