Wasatch Advisors LP Sells 733,218 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Wasatch Advisors LP lessened its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 27.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,953,196 shares of the technology company’s stock after selling 733,218 shares during the quarter. Guidewire Software makes up 1.8% of Wasatch Advisors LP’s portfolio, making the stock its 12th largest holding. Wasatch Advisors LP owned 2.34% of Guidewire Software worth $357,318,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GWRE. Cetera Investment Advisers increased its holdings in Guidewire Software by 648.0% in the 1st quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company’s stock worth $2,114,000 after acquiring an additional 15,695 shares in the last quarter. Icon Wealth Advisors LLC boosted its position in shares of Guidewire Software by 72.4% in the third quarter. Icon Wealth Advisors LLC now owns 5,984 shares of the technology company’s stock worth $1,095,000 after purchasing an additional 2,512 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Guidewire Software by 8.0% in the second quarter. Parkside Financial Bank & Trust now owns 2,215 shares of the technology company’s stock worth $305,000 after purchasing an additional 165 shares in the last quarter. Xponance Inc. raised its position in shares of Guidewire Software by 79.8% during the 2nd quarter. Xponance Inc. now owns 6,908 shares of the technology company’s stock valued at $953,000 after purchasing an additional 3,066 shares during the period. Finally, Pallas Capital Advisors LLC raised its position in shares of Guidewire Software by 219.5% during the 3rd quarter. Pallas Capital Advisors LLC now owns 6,057 shares of the technology company’s stock valued at $1,139,000 after purchasing an additional 4,161 shares during the period.

Insider Activity

In other news, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $4,024,928.64. Following the completion of the sale, the chief executive officer now owns 287,662 shares in the company, valued at approximately $49,523,889.92. This trade represents a 7.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Winston King sold 4,514 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $172.66, for a total transaction of $779,387.24. Following the transaction, the insider now owns 48,237 shares in the company, valued at $8,328,600.42. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,601 shares of company stock valued at $9,116,179 in the last ninety days. Insiders own 0.48% of the company’s stock.

Guidewire Software Stock Up 0.5 %

Guidewire Software stock opened at $202.87 on Friday. Guidewire Software, Inc. has a 52-week low of $95.02 and a 52-week high of $207.10. The firm’s fifty day moving average is $188.72 and its 200 day moving average is $157.29. The company has a market cap of $16.94 billion, a price-to-earnings ratio of -2,535.88, a PEG ratio of 52.22 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. On average, equities research analysts anticipate that Guidewire Software, Inc. will post 0.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

GWRE has been the subject of a number of analyst reports. Citigroup increased their price target on Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. DA Davidson reiterated a “buy” rating and set a $168.00 target price on shares of Guidewire Software in a research report on Friday, September 6th. Wells Fargo & Company boosted their price target on Guidewire Software from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Guidewire Software in a report on Tuesday, November 19th. Finally, Robert W. Baird lifted their price objective on shares of Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $186.08.

About Guidewire Software

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.