Clearwater Analytics (NYSE:CWAN) Stock Rating Upgraded by Morgan Stanley

Morgan Stanley upgraded shares of Clearwater Analytics (NYSE:CWAN) from an equal weight rating to an overweight rating in a research report released on Friday, Marketbeat Ratings reports. They currently have $34.00 target price on the stock, up from their previous target price of $30.00.

Several other research firms also recently issued reports on CWAN. JPMorgan Chase & Co. upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $23.00 to $33.00 in a report on Thursday, November 7th. The Goldman Sachs Group upped their price target on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of Clearwater Analytics from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and cut their target price for the company from $35.00 to $32.00 in a research note on Tuesday. Finally, Oppenheimer lifted their price target on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

Clearwater Analytics Stock Up 3.4 %

Shares of NYSE CWAN opened at $28.01 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. Clearwater Analytics has a 1 year low of $15.62 and a 1 year high of $35.71. The stock’s 50-day simple moving average is $29.12 and its 200-day simple moving average is $25.64. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 2,803.40, a PEG ratio of 7.27 and a beta of 0.72.

Insider Buying and Selling

In other news, CEO Sandeep Sahai sold 139,172 shares of Clearwater Analytics stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $28.94, for a total transaction of $4,027,637.68. Following the sale, the chief executive officer now owns 441,724 shares of the company’s stock, valued at approximately $12,783,492.56. The trade was a 23.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $30.34, for a total value of $567,358.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 253,052 shares of company stock valued at $7,182,724. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. raised its position in shares of Clearwater Analytics by 21.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,459 shares of the company’s stock worth $286,000 after buying an additional 2,734 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Clearwater Analytics by 1.8% during the second quarter. Envestnet Asset Management Inc. now owns 282,880 shares of the company’s stock worth $5,239,000 after purchasing an additional 4,879 shares in the last quarter. Amalgamated Bank acquired a new stake in Clearwater Analytics in the second quarter worth approximately $90,000. Blair William & Co. IL boosted its stake in Clearwater Analytics by 1.6% during the 2nd quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock valued at $786,000 after purchasing an additional 680 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Clearwater Analytics by 124.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock valued at $81,000 after purchasing an additional 2,425 shares during the period. 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.