Guidewire Software, Inc. $GWRE Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC reduced its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 44.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,816 shares of the technology company’s stock after selling 8,499 shares during the quarter. Great Lakes Advisors LLC’s holdings in Guidewire Software were worth $2,486,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GWRE. Mirae Asset Global Investments Co. Ltd. lifted its stake in Guidewire Software by 57.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 427 shares of the technology company’s stock valued at $98,000 after buying an additional 156 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Guidewire Software by 16.6% during the 3rd quarter. Ballentine Partners LLC now owns 1,703 shares of the technology company’s stock valued at $391,000 after acquiring an additional 242 shares in the last quarter. Stablepoint Partners LLC grew its stake in Guidewire Software by 43.2% in the third quarter. Stablepoint Partners LLC now owns 4,676 shares of the technology company’s stock valued at $1,075,000 after purchasing an additional 1,410 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in Guidewire Software in the third quarter worth approximately $475,000. Finally, Fortis Capital Advisors LLC bought a new position in shares of Guidewire Software during the 3rd quarter valued at $475,000.

Guidewire Software Trading Down 4.9%

GWRE opened at $140.34 on Friday. The firm has a 50 day simple moving average of $189.91 and a 200 day simple moving average of $215.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.48 and a quick ratio of 3.48. The company has a market cap of $11.93 billion, a price-to-earnings ratio of 133.66, a price-to-earnings-growth ratio of 9.62 and a beta of 1.08. Guidewire Software, Inc. has a fifty-two week low of $140.25 and a fifty-two week high of $272.60.

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

Guidewire Software declared that its board has authorized a share repurchase plan on Thursday, January 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other Guidewire Software news, CEO Michael George Rosenbaum sold 6,015 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total transaction of $1,155,361.20. Following the sale, the chief executive officer directly owned 240,743 shares in the company, valued at approximately $46,241,915.44. This trade represents a 2.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President John P. Mullen sold 7,975 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total transaction of $1,531,838.00. Following the completion of the sale, the president directly owned 141,983 shares in the company, valued at $27,272,094.64. This represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 51,558 shares of company stock worth $10,261,857 over the last quarter. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on GWRE. Wall Street Zen downgraded Guidewire Software from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Zacks Research lowered Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. BTIG Research restated a “buy” rating and issued a $250.00 price objective on shares of Guidewire Software in a research note on Tuesday, January 27th. Wells Fargo & Company decreased their price target on Guidewire Software from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Finally, Citigroup upped their price objective on shares of Guidewire Software from $242.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.50.

Guidewire Software Company Profile

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.