Envestnet Portfolio Solutions Inc. Decreases Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Envestnet Portfolio Solutions Inc. cut its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 19.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,684 shares of the technology company’s stock after selling 1,387 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Guidewire Software were worth $1,065,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its stake in Guidewire Software by 70.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company’s stock valued at $32,000 after purchasing an additional 70 shares in the last quarter. Ossiam purchased a new position in shares of Guidewire Software in the 4th quarter worth $29,000. Dunhill Financial LLC bought a new stake in shares of Guidewire Software in the 1st quarter worth about $33,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Guidewire Software by 101.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company’s stock valued at $34,000 after buying an additional 99 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Guidewire Software in the 4th quarter valued at about $34,000.

Guidewire Software Trading Down 0.5%

Guidewire Software stock opened at $237.27 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.23 and a current ratio of 3.23. The stock has a market cap of $19.98 billion, a PE ratio of 593.17, a price-to-earnings-growth ratio of 23.42 and a beta of 1.15. The stock has a 50-day moving average of $219.62 and a two-hundred day moving average of $199.41. Guidewire Software, Inc. has a one year low of $132.01 and a one year high of $263.20.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.41. The firm had revenue of $293.51 million for the quarter, compared to the consensus estimate of $286.40 million. Guidewire Software had a net margin of 3.04% and a return on equity of 6.96%. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, research analysts anticipate that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GWRE has been the subject of several analyst reports. JMP Securities raised their price objective on Guidewire Software from $250.00 to $281.00 and gave the company a “market outperform” rating in a research note on Wednesday, June 4th. Royal Bank Of Canada restated an “outperform” rating and set a $290.00 price target on shares of Guidewire Software in a report on Monday. Wall Street Zen upgraded Guidewire Software from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Bank of America lifted their price objective on shares of Guidewire Software from $135.00 to $160.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 4th. Finally, Wells Fargo & Company increased their target price on shares of Guidewire Software from $220.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Guidewire Software presently has an average rating of “Moderate Buy” and an average target price of $247.00.

Insider Activity

In other news, CEO Michael George Rosenbaum sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $184.41, for a total value of $258,174.00. Following the completion of the sale, the chief executive officer now directly owns 259,993 shares in the company, valued at $47,945,309.13. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President John P. Mullen sold 2,300 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $187.95, for a total value of $432,285.00. Following the transaction, the president now owns 164,030 shares in the company, valued at $30,829,438.50. This trade represents a 1.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,160 shares of company stock valued at $3,542,237 in the last ninety days. Insiders own 0.48% of the company’s stock.

About Guidewire Software

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.