California Public Employees Retirement System Sells 226,502 Shares of Guidewire Software, Inc. $GWRE

California Public Employees Retirement System trimmed its position in Guidewire Software, Inc. (NYSE:GWRE) by 59.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,648 shares of the technology company’s stock after selling 226,502 shares during the quarter. California Public Employees Retirement System owned 0.18% of Guidewire Software worth $35,941,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. increased its holdings in shares of Guidewire Software by 14.7% during the first quarter. Atria Wealth Solutions Inc. now owns 2,729 shares of the technology company’s stock worth $511,000 after buying an additional 349 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Guidewire Software by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 530,594 shares of the technology company’s stock worth $99,412,000 after purchasing an additional 8,008 shares in the last quarter. Invesco Ltd. increased its holdings in Guidewire Software by 70.4% in the 1st quarter. Invesco Ltd. now owns 1,427,104 shares of the technology company’s stock worth $267,382,000 after purchasing an additional 589,424 shares in the last quarter. Entropy Technologies LP bought a new position in Guidewire Software in the first quarter valued at about $391,000. Finally, HighTower Advisors LLC boosted its stake in shares of Guidewire Software by 5.2% during the first quarter. HighTower Advisors LLC now owns 9,212 shares of the technology company’s stock valued at $1,726,000 after purchasing an additional 456 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GWRE. Wall Street Zen downgraded shares of Guidewire Software from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Robert W. Baird raised their target price on Guidewire Software from $270.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. The Goldman Sachs Group lifted their target price on Guidewire Software from $270.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Citigroup increased their price target on Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $272.92.

Guidewire Software Price Performance

Shares of NYSE:GWRE opened at $200.50 on Thursday. Guidewire Software, Inc. has a twelve month low of $165.08 and a twelve month high of $272.60. The stock’s 50 day moving average is $226.36 and its 200-day moving average is $228.81. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $17.05 billion, a price-to-earnings ratio of 190.95, a PEG ratio of 12.92 and a beta of 1.08.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. Guidewire Software had a return on equity of 10.15% and a net margin of 7.23%.The company had revenue of $332.64 million for the quarter, compared to analysts’ expectations of $316.62 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Guidewire Software’s quarterly revenue was up 26.5% on a year-over-year basis. Sell-side analysts forecast that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider James Winston King sold 798 shares of Guidewire Software stock in a transaction on Monday, November 17th. The stock was sold at an average price of $222.54, for a total value of $177,586.92. Following the completion of the transaction, the insider directly owned 37,019 shares in the company, valued at approximately $8,238,208.26. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President John P. Mullen sold 3,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $213.44, for a total value of $640,320.00. Following the completion of the transaction, the president owned 149,958 shares of the company’s stock, valued at approximately $32,007,035.52. This represents a 1.96% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 112,342 shares of company stock valued at $27,043,386. 0.46% of the stock is owned by company insiders.

Guidewire Software Company Profile

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.