Clearwater Analytics Holdings, Inc. $CWAN Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. trimmed its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 21.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,649 shares of the company’s stock after selling 41,435 shares during the quarter. Baird Financial Group Inc. owned about 0.05% of Clearwater Analytics worth $3,370,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CWAN. Norges Bank purchased a new position in Clearwater Analytics during the second quarter worth approximately $106,504,000. Vanguard Group Inc. increased its stake in shares of Clearwater Analytics by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock worth $623,001,000 after acquiring an additional 2,366,715 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Clearwater Analytics during the 1st quarter worth $56,648,000. Nuveen LLC purchased a new position in shares of Clearwater Analytics during the 1st quarter worth $53,894,000. Finally, Riverbridge Partners LLC acquired a new position in shares of Clearwater Analytics during the 2nd quarter valued at about $35,313,000. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Sandeep Sahai sold 16,592 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $293,346.56. Following the sale, the chief executive officer owned 913,600 shares of the company’s stock, valued at approximately $16,152,448. This represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Scott Stanley Erickson sold 4,505 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $79,648.40. Following the completion of the sale, the executive owned 19,552 shares in the company, valued at approximately $345,679.36. The trade was a 18.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 113,302 shares of company stock worth $2,217,826 over the last three months. 3.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CWAN shares. JPMorgan Chase & Co. cut their price objective on shares of Clearwater Analytics from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Wells Fargo & Company decreased their target price on shares of Clearwater Analytics from $32.00 to $27.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. DA Davidson restated a “buy” rating and set a $30.00 price target on shares of Clearwater Analytics in a report on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Clearwater Analytics in a research report on Wednesday, September 17th. Finally, Wall Street Zen lowered Clearwater Analytics from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Clearwater Analytics has a consensus rating of “Moderate Buy” and a consensus price target of $29.56.

Clearwater Analytics Stock Up 3.5%

NYSE:CWAN opened at $21.63 on Thursday. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.73 and a 52 week high of $32.00. The stock’s fifty day moving average is $19.30 and its two-hundred day moving average is $20.36. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 5.50 and a beta of 0.67. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.42.

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

Clearwater Analytics declared that its Board of Directors has approved a share buyback program on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.