Guidewire Software, Inc. $GWRE Stake Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 27.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 345,976 shares of the technology company’s stock after selling 133,883 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Guidewire Software were worth $51,405,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc boosted its position in shares of Guidewire Software by 4.6% during the third quarter. IFP Advisors Inc now owns 1,104 shares of the technology company’s stock worth $254,000 after buying an additional 49 shares during the period. American Trust raised its stake in Guidewire Software by 3.9% during the 3rd quarter. American Trust now owns 1,632 shares of the technology company’s stock valued at $375,000 after acquiring an additional 61 shares in the last quarter. Vident Advisory LLC boosted its position in Guidewire Software by 1.7% during the 3rd quarter. Vident Advisory LLC now owns 4,074 shares of the technology company’s stock worth $936,000 after acquiring an additional 70 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Guidewire Software by 18.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 505 shares of the technology company’s stock worth $102,000 after acquiring an additional 78 shares during the period. Finally, Wedmont Private Capital grew its stake in shares of Guidewire Software by 4.9% in the fourth quarter. Wedmont Private Capital now owns 2,033 shares of the technology company’s stock worth $382,000 after purchasing an additional 95 shares in the last quarter.

Insiders Place Their Bets

In other news, CAO David Franklin Peterson sold 246 shares of Guidewire Software stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $29,210.04. Following the transaction, the chief accounting officer owned 12,287 shares in the company, valued at approximately $1,458,958.38. The trade was a 1.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. Also, CFO Jeffrey Elliott Cooper sold 1,348 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $105.67, for a total value of $142,443.16. Following the transaction, the chief financial officer directly owned 62,119 shares in the company, valued at $6,564,114.73. The trade was a 2.12% decrease in their ownership of the stock. 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. Insiders have sold a total of 31,393 shares of company stock valued at $3,960,558 over the last quarter. 0.46% of the stock is owned by insiders.

Analyst Ratings Changes

GWRE has been the topic of a number of recent analyst reports. DA Davidson cut their price objective on shares of Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Stifel Nicolaus decreased their target price on shares of Guidewire Software from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, June 5th. JPMorgan Chase & Co. lowered their target price on shares of Guidewire Software from $300.00 to $258.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. BTIG Research restated a “buy” rating and set a $175.00 price target on shares of Guidewire Software in a research report on Thursday, July 2nd. Finally, Citizens Jmp decreased their price target on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a research note on Friday, June 5th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $224.42.

Guidewire Software Trading Up 0.7%

Shares of NYSE GWRE opened at $149.93 on Friday. Guidewire Software, Inc. has a 12 month low of $102.30 and a 12 month high of $272.60. The company has a market cap of $12.48 billion, a price-to-earnings ratio of 81.04 and a beta of 0.95. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $131.86 and a 200-day simple moving average of $143.78.

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

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.