Panagora Asset Management Inc. trimmed its position in Guidewire Software Inc (NYSE:GWRE) by 94.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,543 shares of the technology company’s stock after selling 194,115 shares during the quarter. Panagora Asset Management Inc.’s holdings in Guidewire Software were worth $1,170,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bremer Bank National Association acquired a new position in Guidewire Software in the 1st quarter valued at $29,000. Spectrum Management Group Inc. grew its holdings in Guidewire Software by 143.4% in the 2nd quarter. Spectrum Management Group Inc. now owns 404 shares of the technology company’s stock valued at $41,000 after buying an additional 238 shares in the last quarter. Manchester Capital Management LLC acquired a new position in Guidewire Software in the 1st quarter valued at $49,000. Icon Wealth Partners LLC acquired a new position in Guidewire Software in the 1st quarter valued at $51,000. Finally, Clearbridge Investments LLC grew its holdings in shares of Guidewire Software by 58.1% during the 1st quarter. Clearbridge Investments LLC now owns 680 shares of the technology company’s stock worth $66,000 after purchasing an additional 250 shares in the last quarter.
Shares of GWRE stock traded down $1.55 on Thursday, hitting $107.54. 279,553 shares of the company’s stock were exchanged, compared to its average volume of 742,287. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.38 and a quick ratio of 6.38. Guidewire Software Inc has a 12 month low of $73.82 and a 12 month high of $113.34. The stock has a market cap of $8.52 billion, a P/E ratio of 170.70, a price-to-earnings-growth ratio of 109.83 and a beta of 1.17. The company has a 50 day moving average of $98.52 and a 200 day moving average of $99.42.
Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.29. Guidewire Software had a return on equity of 3.40% and a net margin of 2.87%. The business had revenue of $207.86 million during the quarter, compared to the consensus estimate of $204.61 million. During the same period in the prior year, the company earned $0.81 EPS. Guidewire Software’s revenue for the quarter was down 13.5% on a year-over-year basis. Sell-side analysts predict that Guidewire Software Inc will post 0.09 EPS for the current fiscal year.
Several analysts have recently issued reports on GWRE shares. JMP Securities reissued a “hold” rating on shares of Guidewire Software in a report on Friday, September 6th. Piper Jaffray Companies increased their target price on Guidewire Software from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. ValuEngine raised Guidewire Software from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Stifel Nicolaus set a $100.00 target price on Guidewire Software and gave the stock a “hold” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. increased their target price on Guidewire Software from $116.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $107.56.
In other Guidewire Software news, CFO Curtis Smith sold 703 shares of the stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $99.49, for a total value of $69,941.47. Following the completion of the transaction, the chief financial officer now directly owns 5,511 shares in the company, valued at $548,289.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew William Fraser Brown sold 2,800 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $107.08, for a total value of $299,824.00. Following the completion of the transaction, the director now owns 3,137 shares of the company’s stock, valued at $335,909.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,702 shares of company stock valued at $2,614,350. 0.69% of the stock is owned by corporate insiders.
Guidewire Software Company Profile
Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter applications. It also provides Guidewire InsuranceNow, a cloud-based platform, which offers policy, billing, and claims management functionality to insurers that prefer to subscribe to a cloud-based solution.
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