Guidewire Software, Inc. (NYSE:GWRE) is RGM Capital LLC’s 4th Largest Position

RGM Capital LLC reduced its stake in Guidewire Software, Inc. (NYSE:GWRE) by 28.9% during the third quarter, HoldingsChannel reports. The firm owned 1,059,963 shares of the technology company’s stock after selling 429,947 shares during the period. Guidewire Software comprises about 8.4% of RGM Capital LLC’s portfolio, making the stock its 4th biggest holding. RGM Capital LLC’s holdings in Guidewire Software were worth $193,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Guidewire Software by 21.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock valued at $63,000 after purchasing an additional 60 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Guidewire Software by 4.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock valued at $283,000 after acquiring an additional 79 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Guidewire Software by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,451 shares of the technology company’s stock worth $448,000 after acquiring an additional 87 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Guidewire Software by 1.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock worth $1,252,000 after purchasing an additional 116 shares during the last quarter. Finally, CHICAGO TRUST Co NA boosted its position in Guidewire Software by 4.8% during the second quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock valued at $392,000 after buying an additional 130 shares during the period.

Guidewire Software Stock Performance

GWRE traded down $1.40 on Wednesday, hitting $203.06. The company had a trading volume of 59,104 shares, compared to its average volume of 695,393. Guidewire Software, Inc. has a 52-week low of $95.02 and a 52-week high of $207.10. The stock has a fifty day simple moving average of $186.96 and a 200-day simple moving average of $156.04.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GWRE shares. Royal Bank of Canada reissued an “outperform” rating and issued a $215.00 target price on shares of Guidewire Software in a research note on Tuesday, November 19th. Citigroup increased their price objective on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. DA Davidson reaffirmed a “buy” rating and issued a $168.00 target price on shares of Guidewire Software in a research note on Friday, September 6th. Wells Fargo & Company upped their price target on shares of Guidewire Software from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. raised their price target on shares of Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $186.08.

Insider Buying and Selling

In other news, insider James Winston King sold 4,514 shares of Guidewire Software stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $172.66, for a total value of $779,387.24. Following the completion of the transaction, the insider now owns 48,237 shares of the company’s stock, valued at $8,328,600.42. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John P. Mullen sold 6,718 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $1,156,570.88. Following the completion of the transaction, the insider now owns 160,099 shares in the company, valued at approximately $27,562,643.84. The trade was a 4.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock worth $9,116,179 in the last three months. 0.48% of the stock is owned by corporate insiders.

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.