Guidewire Software, Inc. $GWRE Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership reduced its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 20.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,060,968 shares of the technology company’s stock after selling 266,827 shares during the period. Artisan Partners Limited Partnership’s holdings in Guidewire Software were worth $213,265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GWRE. Capital World Investors acquired a new stake in shares of Guidewire Software during the 4th quarter valued at approximately $202,405,000. Alliancebernstein L.P. increased its position in Guidewire Software by 405.1% in the second quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company’s stock worth $126,743,000 after buying an additional 431,725 shares during the period. M&T Bank Corp increased its position in Guidewire Software by 4,507.8% in the fourth quarter. M&T Bank Corp now owns 318,675 shares of the technology company’s stock worth $64,057,000 after buying an additional 311,759 shares during the period. Allspring Global Investments Holdings LLC increased its position in Guidewire Software by 112.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 479,859 shares of the technology company’s stock worth $90,036,000 after buying an additional 254,142 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in Guidewire Software by 34.4% in the third quarter. Qube Research & Technologies Ltd now owns 982,747 shares of the technology company’s stock worth $225,894,000 after buying an additional 251,280 shares during the period.

Insider Transactions at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 2,594 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $308,011.56. Following the completion of the transaction, the chief financial officer owned 63,467 shares of the company’s stock, valued at $7,536,071.58. This trade represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael George Rosenbaum sold 5,830 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $692,254.20. Following the transaction, the chief executive officer directly owned 199,776 shares of the company’s stock, valued at $23,721,402.24. This represents a 2.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 28,361 shares of company stock valued at $3,657,757. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. DA Davidson dropped their target price on Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Oppenheimer dropped their target price on Guidewire Software from $250.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, May 18th. Royal Bank Of Canada dropped their target price on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. The Goldman Sachs Group dropped their target price on Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Finally, Citizens Jmp dropped their target price on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a research report on Friday, June 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

Guidewire Software Trading Down 2.1%

NYSE:GWRE opened at $117.50 on Wednesday. Guidewire Software, Inc. has a 1 year low of $113.67 and a 1 year high of $272.60. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 63.51 and a beta of 0.93. The business has a fifty day moving average of $136.21 and a 200-day moving average of $155.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The company had revenue of $372.54 million during the quarter, compared to analysts’ expectations of $355.92 million. During the same quarter in the prior year, the business posted $0.88 earnings per share. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year. Equities analysts predict that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

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.