Guidewire Software, Inc. $GWRE Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. trimmed its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 18.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 288,327 shares of the technology company’s stock after selling 66,372 shares during the quarter. Congress Asset Management Co.’s holdings in Guidewire Software were worth $57,957,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Measured Wealth Private Client Group LLC purchased a new stake in shares of Guidewire Software during the third quarter worth about $29,000. Root Financial Partners LLC purchased a new position in Guidewire Software in the 3rd quarter valued at about $29,000. Newbridge Financial Services Group Inc. purchased a new position in Guidewire Software in the 2nd quarter valued at about $30,000. Advisors Asset Management Inc. acquired a new stake in Guidewire Software in the 1st quarter worth about $25,000. Finally, Cornerstone Planning Group LLC boosted its holdings in Guidewire Software by 620.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 144 shares of the technology company’s stock worth $34,000 after buying an additional 124 shares during the last quarter.

Insider Buying and Selling

In other Guidewire Software news, President John P. Mullen sold 6,576 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $163.86, for a total value of $1,077,543.36. Following the completion of the sale, the president directly owned 135,407 shares of the company’s stock, valued at $22,187,791.02. This trade represents a 4.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO David Franklin Peterson sold 273 shares of Guidewire Software stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $163.86, for a total value of $44,733.78. Following the transaction, the chief accounting officer owned 12,533 shares in the company, valued at approximately $2,053,657.38. This represents a 2.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,495 shares of company stock worth $4,920,164 over the last quarter. Corporate insiders own 0.46% of the company’s stock.

Guidewire Software Trading Up 0.7%

Shares of Guidewire Software stock opened at $156.69 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.93 and a quick ratio of 2.93. The stock’s 50 day simple moving average is $147.64 and its 200-day simple moving average is $196.33. The stock has a market cap of $13.27 billion, a P/E ratio of 71.22, a P/E/G ratio of 7.05 and a beta of 1.05. Guidewire Software, Inc. has a 1-year low of $120.37 and a 1-year high of $272.60.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, March 5th. The technology company reported $1.17 EPS for the quarter, beating 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 firm had revenue of $359.10 million during the quarter, compared to analysts’ expectations of $342.88 million. During the same quarter last year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. Analysts predict that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GWRE. DA Davidson reissued a “buy” rating and set a $246.00 target price on shares of Guidewire Software in a report on Tuesday, March 10th. BTIG Research lifted their price target on Guidewire Software from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Citizens Jmp reiterated a “market outperform” rating and set a $281.00 price target on shares of Guidewire Software in a research report on Wednesday, December 10th. Stifel Nicolaus reduced their price objective on Guidewire Software from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Finally, Wells Fargo & Company decreased their price objective on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $249.85.

About Guidewire Software

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.