Guidewire Software, Inc. $GWRE Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 6.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 541,231 shares of the technology company’s stock after selling 34,614 shares during the quarter. Bank of New York Mellon Corp’s holdings in Guidewire Software were worth $124,407,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GWRE. Advisors Asset Management Inc. acquired a new position in Guidewire Software during the 1st quarter worth $25,000. Truist Financial Corp increased its holdings in shares of Guidewire Software by 16.0% during the second quarter. Truist Financial Corp now owns 11,792 shares of the technology company’s stock valued at $2,776,000 after purchasing an additional 1,628 shares during the period. Hilltop National Bank bought a new stake in shares of Guidewire Software during the second quarter valued at about $242,000. ZWJ Investment Counsel Inc. acquired a new stake in Guidewire Software in the second quarter worth about $235,000. Finally, 111 Capital acquired a new stake in Guidewire Software in the second quarter worth about $1,753,000.

Insider Buying and Selling

In related news, insider James Winston King sold 1,860 shares of Guidewire Software stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $195.00, for a total value of $362,700.00. Following the transaction, the insider owned 33,702 shares of the company’s stock, valued at approximately $6,571,890. This trade represents a 5.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael George Rosenbaum sold 6,015 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total transaction of $1,155,361.20. Following the sale, the chief executive officer directly owned 240,743 shares of the company’s stock, valued at $46,241,915.44. This represents a 2.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 51,558 shares of company stock worth $10,261,857. Company insiders own 0.46% of the company’s stock.

Guidewire Software Trading Down 4.9%

Guidewire Software stock opened at $140.34 on Friday. The firm has a market cap of $11.93 billion, a price-to-earnings ratio of 133.66, a price-to-earnings-growth ratio of 9.62 and a beta of 1.08. Guidewire Software, Inc. has a 1 year low of $140.25 and a 1 year high of $272.60. The firm’s 50 day moving average price is $189.91 and its two-hundred day moving average price is $215.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.48 and a current ratio of 3.48.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. The business had revenue of $332.64 million during the quarter, compared to analyst estimates of $316.62 million. Guidewire Software had a return on equity of 10.15% and a net margin of 7.23%.The company’s revenue was up 26.5% compared to the same quarter last year. During the same period last year, the company posted $0.43 EPS. On average, research analysts predict that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Guidewire Software declared that its board has authorized a stock repurchase program on Thursday, January 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

GWRE has been the topic of several research analyst reports. Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. DA Davidson upgraded shares of Guidewire Software from a “neutral” rating to a “buy” rating and increased their price objective for the company from $246.00 to $250.00 in a report on Wednesday, December 17th. BTIG Research reiterated a “buy” rating and set a $250.00 price objective on shares of Guidewire Software in a research note on Tuesday, January 27th. Wall Street Zen cut Guidewire Software from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $281.00 price target on shares of Guidewire Software in a research note on Wednesday, December 10th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $269.50.

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.