Clearwater Analytics (NYSE:CWAN) Upgraded by Morgan Stanley to "Overweight" Rating

Clearwater Analytics (NYSE:CWAN - Get Free Report) was upgraded by research analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a research note issued to investors on Friday, MarketBeat reports. The brokerage presently has a $34.00 target price on the stock, up from their previous target price of $30.00. Morgan Stanley's target price would suggest a potential upside of 21.40% from the company's current price.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised shares of Clearwater Analytics from a "neutral" rating to an "overweight" rating and raised their target price for the company from $23.00 to $33.00 in a research note on Thursday, November 7th. Piper Sandler raised their price objective on Clearwater Analytics from $23.00 to $28.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Royal Bank of Canada decreased their target price on Clearwater Analytics from $36.00 to $30.00 and set an "outperform" rating for the company in a research report on Tuesday. Oppenheimer raised their target price on Clearwater Analytics from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group upped their price target on Clearwater Analytics from $20.00 to $22.00 and gave the stock a "sell" rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $31.33.

Clearwater Analytics Trading Up 3.4 %

Shares of NYSE CWAN traded up $0.92 during midday trading on Friday, hitting $28.01. The stock had a trading volume of 3,078,640 shares, compared to its average volume of 2,273,558. The company has a fifty day moving average price of $29.20 and a 200 day moving average price of $25.58. The company has a market capitalization 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. Clearwater Analytics has a 1-year low of $15.62 and a 1-year high of $35.71. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

Insider Buying and Selling at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $31.34, for a total value of $121,912.60. Following the completion of the sale, the executive now directly owns 6,373 shares of the company's stock, valued at $199,729.82. The trade was a 37.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $25.89, for a total value of $1,294,500.00. Following the transaction, the chief executive officer now directly owns 615,855 shares in the company, valued at approximately $15,944,485.95. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 253,052 shares of company stock valued at $7,182,724 in the last three months. Corporate insiders own 4.60% of the company's stock.

Institutional Investors Weigh In On Clearwater Analytics

Several institutional investors and hedge funds have recently made changes to their positions in CWAN. Chartwell Investment Partners LLC increased its stake in Clearwater Analytics by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 48,827 shares of the company's stock valued at $1,233,000 after purchasing an additional 395 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Clearwater Analytics by 57.4% during the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock valued at $35,000 after buying an additional 468 shares during the last quarter. IHT Wealth Management LLC grew its position in shares of Clearwater Analytics by 5.5% during the 3rd quarter. IHT Wealth Management LLC now owns 11,416 shares of the company's stock valued at $288,000 after buying an additional 598 shares during the last quarter. Blair William & Co. IL raised its stake in Clearwater Analytics by 1.6% during the second quarter. Blair William & Co. IL now owns 42,436 shares of the company's stock worth $786,000 after acquiring an additional 680 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in Clearwater Analytics by 38.6% in the third quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company's stock worth $90,000 after acquiring an additional 995 shares during the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

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.