Capital International Investors Cuts Stock Holdings in Guidewire Software, Inc. $GWRE

Capital International Investors reduced its position in Guidewire Software, Inc. (NYSE:GWRE) by 41.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 239,672 shares of the technology company’s stock after selling 173,149 shares during the quarter. Capital International Investors’ holdings in Guidewire Software were worth $55,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GWRE. Wealth Enhancement Advisory Services LLC increased its holdings in Guidewire Software by 57.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 51,694 shares of the technology company’s stock valued at $11,735,000 after buying an additional 18,774 shares in the last quarter. Scalar Gauge Management LLC purchased a new stake in shares of Guidewire Software during the 3rd quarter worth about $5,287,000. American Century Companies Inc. boosted its stake in shares of Guidewire Software by 3.4% during the 3rd quarter. American Century Companies Inc. now owns 520,390 shares of the technology company’s stock worth $119,617,000 after acquiring an additional 17,104 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Guidewire Software by 901.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 9,110 shares of the technology company’s stock valued at $2,094,000 after acquiring an additional 8,200 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Guidewire Software during the 3rd quarter valued at about $51,967,000.

Guidewire Software Trading Down 0.6%

GWRE stock opened at $157.98 on Thursday. The company has a current ratio of 2.93, a quick ratio of 3.48 and a debt-to-equity ratio of 0.45. Guidewire Software, Inc. has a 12-month low of $120.37 and a 12-month high of $272.60. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 71.81, a PEG ratio of 10.24 and a beta of 1.06. The business’s 50-day moving average is $152.17 and its 200 day moving average is $199.70.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, March 5th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.77 by $0.40. Guidewire Software had a return on equity of 13.44% and a net margin of 14.11%.The company had revenue of $359.10 million during the quarter, compared to analyst estimates of $342.88 million. During the same period in the previous year, the business earned $0.51 EPS. Guidewire Software’s quarterly revenue was up 24.0% on a year-over-year basis. On average, sell-side analysts anticipate that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GWRE shares. Wells Fargo & Company reduced their price target on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. Royal Bank Of Canada dropped their price objective on Guidewire Software from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. Oppenheimer cut their price objective on Guidewire Software from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. BTIG Research upped their target price on Guidewire Software from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Finally, Citigroup increased their target price on Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Guidewire Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.85.

Insider Activity at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 216 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $180.87, for a total transaction of $39,067.92. Following the completion of the sale, the chief financial officer directly owned 72,753 shares in the company, valued at approximately $13,158,835.11. The trade was a 0.30% 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, CEO Michael George Rosenbaum sold 1,200 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $166.34, for a total value of $199,608.00. Following the completion of the transaction, the chief executive officer directly owned 227,143 shares of the company’s stock, valued at approximately $37,782,966.62. This represents a 0.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 42,560 shares of company stock valued at $7,882,898 over the last quarter. 0.46% of the stock is owned by company insiders.

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.