SG Americas Securities LLC Sells 26,802 Shares of Guidewire Software, Inc. $GWRE

SG Americas Securities LLC cut its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 69.1% in the first quarter, HoldingsChannel reports. The firm owned 11,980 shares of the technology company’s stock after selling 26,802 shares during the quarter. SG Americas Securities LLC’s holdings in Guidewire Software were worth $1,792,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GWRE. Dynamic Technology Lab Private Ltd increased its holdings in shares of Guidewire Software by 901.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 9,110 shares of the technology company’s stock worth $2,094,000 after buying an additional 8,200 shares during the last quarter. Comerica Bank lifted its holdings in shares of Guidewire Software by 52.0% in the 4th quarter. Comerica Bank now owns 78,659 shares of the technology company’s stock valued at $15,811,000 after acquiring an additional 26,912 shares during the last quarter. BDF Gestion purchased a new position in Guidewire Software in the fourth quarter worth about $1,803,000. Fieldview Capital Management LLC purchased a new position in Guidewire Software in the third quarter worth about $2,862,000. Finally, Alliancebernstein L.P. grew its position in Guidewire Software by 6.9% in the third quarter. Alliancebernstein L.P. now owns 575,587 shares of the technology company’s stock worth $132,304,000 after acquiring an additional 37,284 shares in the last quarter.

Guidewire Software Stock Performance

GWRE stock opened at $134.21 on Friday. Guidewire Software, Inc. has a twelve month low of $102.30 and a twelve month high of $272.60. The firm has a market cap of $11.17 billion, a price-to-earnings ratio of 72.55 and a beta of 0.95. The business’s fifty day simple moving average is $131.45 and its two-hundred day simple moving average is $148.12. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. The firm had revenue of $372.54 million during the quarter, compared to analyst estimates of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The business’s revenue was up 26.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 earnings per share. Analysts predict that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wells Fargo & Company decreased their price objective on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. The Goldman Sachs Group dropped their target price on Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a report on Friday, June 5th. Stifel Nicolaus cut their target price on Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Oppenheimer decreased their price target on Guidewire Software from $250.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, May 18th. Finally, BTIG Research restated a “buy” rating and issued a $175.00 price target on shares of Guidewire Software in a research report on Thursday. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $221.36.

Insider Buying and Selling at Guidewire Software

In other news, President John P. Mullen sold 4,292 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $509,632.08. Following the completion of the sale, the president owned 131,115 shares in the company, valued at approximately $15,568,595.10. The trade was a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeffrey Elliott Cooper sold 2,594 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total transaction of $308,011.56. Following the completion of the sale, the chief financial officer owned 63,467 shares of the company’s stock, valued at approximately $7,536,071.58. This represents a 3.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 29,709 shares of company stock valued at $3,740,332. Company insiders own 0.46% of the company’s stock.

About Guidewire Software

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.