Baird Financial Group Inc. Decreases Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Baird Financial Group Inc. decreased its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 57.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 120,239 shares of the company’s stock after selling 163,029 shares during the quarter. Baird Financial Group Inc.’s holdings in Clearwater Analytics were worth $3,309,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Clearwater Analytics by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock valued at $574,607,000 after buying an additional 2,455,844 shares during the last quarter. Alliancebernstein L.P. grew its position in Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock valued at $202,931,000 after acquiring an additional 2,931,445 shares during the last quarter. Wellington Management Group LLP increased its stake in Clearwater Analytics by 98.2% in the fourth quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock worth $163,867,000 after purchasing an additional 2,950,555 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Clearwater Analytics by 52.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company’s stock valued at $126,972,000 after purchasing an additional 1,585,869 shares during the period. Finally, Invesco Ltd. boosted its position in Clearwater Analytics by 9.0% in the 4th quarter. Invesco Ltd. now owns 4,253,863 shares of the company’s stock valued at $117,066,000 after buying an additional 352,201 shares during the period. Institutional investors own 50.10% of the company’s stock.

Insiders Place Their Bets

In other news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $27.33, for a total transaction of $511,071.00. Following the sale, the chief financial officer now directly owns 274,857 shares of the company’s stock, valued at $7,511,841.81. The trade was a 6.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $27.63, for a total value of $1,381,500.00. Following the completion of the transaction, the chief executive officer now directly owns 615,855 shares in the company, valued at approximately $17,016,073.65. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 644,510 shares of company stock valued at $18,478,363. 4.60% of the stock is currently owned by corporate insiders.

Clearwater Analytics Trading Up 2.4 %

NYSE CWAN opened at $23.52 on Friday. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.63 and a 52 week high of $35.71. The company has a 50 day moving average price of $24.77 and a 200 day moving average price of $27.41. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The firm has a market cap of $6.66 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 8.23 and a beta of 0.79.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The firm had revenue of $126.86 million during the quarter, compared to analyst estimates of $125.11 million. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CWAN shares. Royal Bank of Canada lifted their price target on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company lowered their target price on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Piper Sandler dropped their price target on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. UBS Group raised their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Clearwater Analytics presently has an average rating of “Moderate Buy” and an average price target of $32.00.

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.