William Blair Investment Management LLC Sells 72,498 Shares of Guidewire Software, Inc. $GWRE

William Blair Investment Management LLC trimmed its stake in Guidewire Software, Inc. (NYSE:GWRE) by 15.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 405,950 shares of the technology company’s stock after selling 72,498 shares during the quarter. William Blair Investment Management LLC’s holdings in Guidewire Software were worth $93,312,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GWRE. Advisors Asset Management Inc. purchased a new position in shares of Guidewire Software in the 1st quarter worth about $25,000. Root Financial Partners LLC bought a new stake in Guidewire Software during the 3rd quarter valued at about $29,000. Newbridge Financial Services Group Inc. purchased a new position in Guidewire Software in the second quarter worth about $30,000. Westside Investment Management Inc. bought a new position in shares of Guidewire Software in the second quarter worth approximately $32,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Guidewire Software by 620.0% during the third quarter. Cornerstone Planning Group LLC now owns 144 shares of the technology company’s stock valued at $34,000 after buying an additional 124 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GWRE shares. Wells Fargo & Company decreased their price objective on shares of Guidewire Software from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a report on Thursday, January 22nd. BTIG Research lowered their price target on Guidewire Software from $225.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. DA Davidson raised 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 research report on Wednesday, December 17th. Finally, Citigroup boosted their target price on Guidewire Software from $242.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Eleven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $255.92.

Insider Buying and Selling at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 2,872 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total value of $551,653.76. Following the transaction, the chief financial officer owned 74,201 shares of the company’s stock, valued at approximately $14,252,528.08. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President John P. Mullen sold 7,975 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total transaction of $1,531,838.00. Following the sale, the president owned 141,983 shares of the company’s stock, valued at $27,272,094.64. This trade represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 42,760 shares of company stock worth $7,978,508 over the last quarter. Company insiders own 0.46% of the company’s stock.

Guidewire Software Stock Performance

GWRE stock opened at $145.53 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.48 and a quick ratio of 3.48. Guidewire Software, Inc. has a 1 year low of $120.37 and a 1 year high of $272.60. The company has a market cap of $12.37 billion, a P/E ratio of 138.60, a price-to-earnings-growth ratio of 9.37 and a beta of 1.05. The stock’s fifty day moving average price is $159.60 and its 200-day moving average price is $202.70.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. The company had revenue of $332.64 million for the quarter, compared to the consensus estimate of $316.62 million. Guidewire Software had a return on equity of 10.15% and a net margin of 7.23%.Guidewire Software’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. On average, equities analysts forecast that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Guidewire Software declared that its Board of Directors has authorized a stock repurchase plan on Thursday, January 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Guidewire Software Company 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.