Andra AP fonden Sells 9,830 Shares of Guidewire Software, Inc. $GWRE

Andra AP fonden reduced its stake in Guidewire Software, Inc. (NYSE:GWRE) by 80.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,459 shares of the technology company’s stock after selling 9,830 shares during the period. Andra AP fonden’s holdings in Guidewire Software were worth $565,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GWRE. Advisors Asset Management Inc. bought a new position in shares of Guidewire Software in the first quarter worth approximately $25,000. Root Financial Partners LLC purchased a new stake in Guidewire Software during the 3rd quarter valued at $29,000. Newbridge Financial Services Group Inc. bought a new stake in Guidewire Software in the 2nd quarter worth $30,000. Westside Investment Management Inc. purchased a new position in shares of Guidewire Software in the second quarter valued at about $32,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Guidewire Software by 620.0% during the third quarter. Cornerstone Planning Group LLC now owns 144 shares of the technology company’s stock valued at $34,000 after acquiring an additional 124 shares during the last quarter.

Guidewire Software Stock Performance

Shares of Guidewire Software stock opened at $145.53 on Monday. Guidewire Software, Inc. has a 12 month low of $120.37 and a 12 month high of $272.60. The firm has a market capitalization of $12.37 billion, a P/E ratio of 138.60, a P/E/G ratio of 9.37 and a beta of 1.05. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $159.60 and a two-hundred day simple moving average of $202.70.

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

Guidewire Software declared that its Board of Directors has authorized a stock repurchase plan on Thursday, January 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently issued reports on GWRE. DA Davidson raised Guidewire Software from a “neutral” rating to a “buy” rating and raised their target price for the stock from $246.00 to $250.00 in a research note on Wednesday, December 17th. Oppenheimer cut their price objective on Guidewire Software from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. BTIG Research decreased their target price on Guidewire Software from $225.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Zacks Research lowered Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Finally, Citigroup boosted their price objective on shares of Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $255.92.

Insiders Place Their Bets

In related news, CEO Michael George Rosenbaum sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $125.50, for a total value of $150,600.00. Following the sale, the chief executive officer owned 229,543 shares in the company, valued at $28,807,646.50. This represents a 0.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Elliott Cooper sold 216 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $180.87, for a total value of $39,067.92. Following the transaction, the chief financial officer directly owned 72,753 shares of the company’s stock, valued at approximately $13,158,835.11. This trade represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 42,760 shares of company stock worth $7,978,508. 0.46% of the stock is currently owned by company insiders.

Guidewire Software 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.