Brown Brothers Harriman & Co. Reduces Stake in Guidewire Software, Inc. (NYSE:GWRE)

Brown Brothers Harriman & Co. trimmed its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 970,973 shares of the technology company’s stock after selling 5,673 shares during the quarter. Guidewire Software makes up 1.0% of Brown Brothers Harriman & Co.’s portfolio, making the stock its 26th biggest holding. Brown Brothers Harriman & Co.’s holdings in Guidewire Software were worth $133,887,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in shares of Guidewire Software in the 4th quarter worth about $27,000. ORG Partners LLC acquired a new position in Guidewire Software during the first quarter worth about $29,000. Rothschild Investment LLC purchased a new stake in shares of Guidewire Software in the second quarter valued at about $31,000. Lynx Investment Advisory acquired a new stake in shares of Guidewire Software in the second quarter valued at approximately $41,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Guidewire Software in the second quarter valued at approximately $41,000.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GWRE. Bank of America upped their target price on Guidewire Software from $80.00 to $95.00 and gave the company an “underperform” rating in a research note on Wednesday, June 5th. DA Davidson reaffirmed a “buy” rating and set a $168.00 price objective on shares of Guidewire Software in a research note on Friday, September 6th. Oppenheimer lifted their price objective on Guidewire Software from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Stifel Nicolaus upped their target price on shares of Guidewire Software from $140.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, BTIG Research lifted their price target on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.69.

Guidewire Software Stock Performance

Guidewire Software stock opened at $171.81 on Monday. The company has a market cap of $14.20 billion, a price-to-earnings 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 has a 50 day moving average price of $147.64 and a 200 day moving average price of $129.92.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.32%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 EPS. Sell-side analysts predict that Guidewire Software, Inc. will post 0.49 EPS for the current year.

Insiders Place Their Bets

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

Guidewire Software Profile

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.