Baird Financial Group Inc. Reduces Position in Clearwater Analytics Holdings, Inc. $CWAN

Baird Financial Group Inc. trimmed its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 21.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,649 shares of the company’s stock after selling 41,435 shares during the quarter. Baird Financial Group Inc.’s holdings in Clearwater Analytics were worth $3,370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Clearwater Analytics by 11.3% in the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock valued at $623,001,000 after buying an additional 2,366,715 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Clearwater Analytics by 7.7% during the 1st quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company’s stock worth $171,866,000 after acquiring an additional 458,444 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Clearwater Analytics by 6.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,774,285 shares of the company’s stock worth $126,630,000 after acquiring an additional 363,720 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Clearwater Analytics by 22.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,737,241 shares of the company’s stock valued at $125,833,000 after acquiring an additional 1,060,435 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Clearwater Analytics by 34.1% during the 1st quarter. Invesco Ltd. now owns 5,706,337 shares of the company’s stock worth $152,930,000 after acquiring an additional 1,452,474 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Stock Up 3.5%

Clearwater Analytics stock opened at $21.63 on Thursday. The stock has a 50 day moving average of $19.30 and a two-hundred day moving average of $20.36. Clearwater Analytics Holdings, Inc. has a twelve month low of $15.73 and a twelve month high of $32.00. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 5.50 and a beta of 0.67. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.42.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, November 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Clearwater Analytics had a net margin of 61.28% and a return on equity of 2.77%. The company had revenue of $205.11 million during the quarter, compared to analyst estimates of $203.66 million. During the same period in the previous year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 77.1% on a year-over-year basis. As a group, research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Clearwater Analytics declared that its board has initiated a stock buyback program on Wednesday, September 3rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 16,592 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $293,346.56. Following the completion of the sale, the chief executive officer owned 913,600 shares in the company, valued at approximately $16,152,448. This trade represents a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James S. Cox sold 29,700 shares of Clearwater Analytics stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $22.00, for a total transaction of $653,400.00. Following the completion of the sale, the chief financial officer directly owned 333,983 shares in the company, valued at approximately $7,347,626. The trade was a 8.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 113,302 shares of company stock worth $2,217,826 in the last 90 days. Corporate insiders own 3.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group lowered their price target on Clearwater Analytics from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Morgan Stanley restated an “overweight” rating and set a $27.00 price objective on shares of Clearwater Analytics in a research report on Monday, November 24th. DA Davidson restated a “buy” rating and issued a $30.00 target price on shares of Clearwater Analytics in a report on Wednesday. Wall Street Zen downgraded shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, Wells Fargo & Company reduced their price target on shares of Clearwater Analytics from $32.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.56.

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.