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

Key Points

• Baird Financial Group Inc. increased its stake in Clearwater Analytics by 62.2%, now owning approximately 0.07% representing $5.2 million after acquiring 74,845 additional shares in Q1.
• Clearwater Analytics has received mixed analyst ratings, with Oppenheimer reducing its price target from $40.00 to $36.00 while Goldman Sachs upgraded it from "neutral" to "buy" with a price target of $27.00.
• The company announced a $100 million stock repurchase program, indicating confidence in the stock's undervaluation as analysts forecast a return of 0.18 EPS for the current fiscal year.

Baird Financial Group Inc. raised its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 62.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,084 shares of the company's stock after acquiring an additional 74,845 shares during the quarter. Baird Financial Group Inc. owned approximately 0.07% of Clearwater Analytics worth $5,228,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CWAN. Apollon Wealth Management LLC raised its stake in Clearwater Analytics by 3.9% in the 1st quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company's stock valued at $331,000 after purchasing an additional 459 shares during the last quarter. Huntleigh Advisors Inc. raised its position in shares of Clearwater Analytics by 1.9% in the first quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company's stock valued at $863,000 after buying an additional 595 shares during the last quarter. Abacus FCF Advisors LLC lifted its stake in shares of Clearwater Analytics by 2.8% during the first quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company's stock valued at $674,000 after buying an additional 682 shares during the period. Cerity Partners LLC grew its stake in Clearwater Analytics by 7.3% in the 1st quarter. Cerity Partners LLC now owns 11,598 shares of the company's stock worth $311,000 after acquiring an additional 793 shares during the period. Finally, KLP Kapitalforvaltning AS grew its stake in Clearwater Analytics by 2.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 41,300 shares of the company's stock worth $1,107,000 after acquiring an additional 900 shares during the period. Institutional investors and hedge funds own 50.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CWAN. Oppenheimer reduced their price target on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 11th. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. DA Davidson lowered their price target on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Finally, The Goldman Sachs Group upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price objective on the stock in a report on Monday, August 11th. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $32.67.

Insider Buying and Selling at Clearwater Analytics

In related news, CTO Souvik Das sold 10,000 shares of Clearwater Analytics stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the chief technology officer owned 132,549 shares in the company, valued at approximately $2,650,980. The trade was a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $22.15, for a total value of $1,107,500.00. Following the completion of the sale, the chief executive officer owned 895,663 shares of the company's stock, valued at approximately $19,838,935.45. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 266,748 shares of company stock worth $5,755,414. 3.31% of the stock is currently owned by insiders.

Clearwater Analytics Stock Performance

Shares of NYSE:CWAN opened at $20.16 on Friday. The business has a 50-day moving average of $20.84 and a two-hundred day moving average of $23.35. The firm has a market capitalization of $5.89 billion, a PE ratio of 12.68, a P/E/G ratio of 4.75 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.98 and a 12 month high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The firm had revenue of $181.94 million for the quarter, compared to analysts' expectations of $174.16 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm's revenue for the quarter was up 70.4% compared to the same quarter last year. As a group, research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Clearwater Analytics declared that its board has approved a stock repurchase program on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Clearwater Analytics 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.

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