Guidewire Software, Inc. $GWRE Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 273,778 shares of the technology company’s stock after selling 4,172 shares during the quarter. Rhumbline Advisers owned 0.32% of Guidewire Software worth $62,931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GWRE. Advisors Asset Management Inc. purchased a new stake in shares of Guidewire Software during the 1st quarter worth approximately $25,000. CWM LLC raised its holdings in Guidewire Software by 16.0% during the second quarter. CWM LLC now owns 22,102 shares of the technology company’s stock worth $5,204,000 after purchasing an additional 3,042 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Guidewire Software by 4.1% during the second quarter. Sequoia Financial Advisors LLC now owns 1,835 shares of the technology company’s stock worth $432,000 after purchasing an additional 73 shares in the last quarter. TD Asset Management Inc boosted its position in Guidewire Software by 1.0% during the second quarter. TD Asset Management Inc now owns 12,172 shares of the technology company’s stock worth $2,866,000 after purchasing an additional 120 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in Guidewire Software in the second quarter valued at $325,000.

Insider Buying and Selling

In related news, insider James Winston King sold 1,860 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $195.00, for a total value of $362,700.00. Following the completion of the sale, the insider directly owned 33,702 shares in the company, valued at approximately $6,571,890. The trade was a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey Elliott Cooper sold 216 shares of the stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $180.87, for a total transaction of $39,067.92. Following the transaction, the chief financial officer directly owned 72,753 shares in the company, valued at approximately $13,158,835.11. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 46,958 shares of company stock valued at $9,103,787. Insiders own 0.46% of the company’s stock.

Guidewire Software Price Performance

Shares of NYSE:GWRE opened at $125.05 on Friday. The company has a market cap of $10.63 billion, a P/E ratio of 119.09, a P/E/G ratio of 8.40 and a beta of 1.06. The business has a fifty day simple moving average of $174.80 and a 200-day simple moving average of $209.75. Guidewire Software, Inc. has a 52 week low of $121.88 and a 52 week high of $272.60. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.44.

Guidewire Software (NYSE:GWRE) last released its earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. The firm 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%.The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 earnings per share. Equities research analysts forecast that Guidewire Software, Inc. will post 0.52 EPS for the current year.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on GWRE. Citigroup lifted their price target on Guidewire Software from $242.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Wells Fargo & Company cut their price objective on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. DA Davidson raised Guidewire Software from a “neutral” rating to a “buy” rating and upped their target price for the company from $246.00 to $250.00 in a research note on Wednesday, December 17th. Citizens Jmp reissued a “market outperform” rating and set a $281.00 price target on shares of Guidewire Software in a research report on Wednesday, December 10th. Finally, Wall Street Zen cut Guidewire Software from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $266.64.

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.