William Blair Investment Management LLC Cuts Holdings in Guidewire Software, Inc. (NYSE:GWRE)

William Blair Investment Management LLC decreased its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 19.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,267,050 shares of the technology company’s stock after selling 300,603 shares during the period. William Blair Investment Management LLC owned about 1.53% of Guidewire Software worth $174,714,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GWRE. Federated Hermes Inc. increased its holdings in Guidewire Software by 6.0% in the 2nd quarter. Federated Hermes Inc. now owns 151,568 shares of the technology company’s stock worth $20,900,000 after buying an additional 8,558 shares in the last quarter. Qsemble Capital Management LP bought a new stake in shares of Guidewire Software in the second quarter worth approximately $238,000. Ground Swell Capital LLC purchased a new position in shares of Guidewire Software during the second quarter valued at approximately $268,000. AGF Management Ltd. lifted its position in Guidewire Software by 2.6% during the second quarter. AGF Management Ltd. now owns 19,310 shares of the technology company’s stock valued at $2,663,000 after purchasing an additional 497 shares during the period. Finally, Headlands Technologies LLC boosted its holdings in Guidewire Software by 2,030.0% in the second quarter. Headlands Technologies LLC now owns 2,769 shares of the technology company’s stock worth $382,000 after purchasing an additional 2,639 shares during the last quarter.

Guidewire Software Price Performance

Shares of NYSE:GWRE opened at $171.81 on Friday. The company has a market capitalization of $14.20 billion, a P/E ratio of -1,321.51 and a beta of 1.18. Guidewire Software, Inc. has a 1-year low of $85.15 and a 1-year high of $171.95. The firm’s 50 day simple moving average is $147.64 and its two-hundred day simple moving average is $129.79.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate 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 1.32%. The company’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. On average, sell-side analysts anticipate that Guidewire Software, Inc. will post 0.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GWRE has been the subject of a number of research reports. BTIG Research boosted their target price on shares of Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. upped their price objective on Guidewire Software from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. Wells Fargo & Company raised their target price on Guidewire Software from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. The Goldman Sachs Group boosted their price target on Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Bank of America increased their price objective on shares of Guidewire Software from $80.00 to $95.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $161.69.

Insider Activity

In related news, CEO Michael George Rosenbaum sold 5,582 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total transaction of $751,002.28. Following the completion of the sale, the chief executive officer now owns 239,793 shares in the company, valued at $32,261,750.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 3,017 shares of Guidewire Software stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $405,907.18. Following the sale, the chief financial officer now directly owns 63,479 shares in the company, valued at approximately $8,540,464.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael George Rosenbaum sold 5,582 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $751,002.28. Following the transaction, the chief executive officer now directly owns 239,793 shares of the company’s stock, valued at approximately $32,261,750.22. The disclosure for this sale can be found here. Insiders have sold 13,064 shares of company stock worth $1,782,775 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

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.