Riverbridge Partners LLC Has $79.77 Million Stake in Guidewire Software, Inc. (NYSE:GWRE)

Riverbridge Partners LLC lowered its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 53.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 425,773 shares of the technology company’s stock after selling 480,472 shares during the quarter. Riverbridge Partners LLC owned about 0.51% of Guidewire Software worth $79,773,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in GWRE. Ossiam bought a new position in shares of Guidewire Software in the fourth quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Guidewire Software by 70.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company’s stock valued at $32,000 after buying an additional 70 shares during the last quarter. Dunhill Financial LLC bought a new position in shares of Guidewire Software in the first quarter valued at about $33,000. Cullen Frost Bankers Inc. bought a new position in shares of Guidewire Software in the fourth quarter valued at about $34,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Guidewire Software by 101.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company’s stock valued at $34,000 after buying an additional 99 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GWRE shares. Wall Street Zen raised Guidewire Software from a “hold” rating to a “buy” rating in a report on Friday, June 6th. JPMorgan Chase & Co. boosted their price objective on Guidewire Software from $231.00 to $271.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. Bank of America boosted their price objective on Guidewire Software from $135.00 to $160.00 and gave the stock an “underperform” rating in a report on Wednesday, June 4th. Citigroup boosted their price objective on Guidewire Software from $199.00 to $247.00 and gave the stock a “neutral” rating in a report on Thursday, June 5th. Finally, The Goldman Sachs Group boosted their price objective on Guidewire Software from $235.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $247.00.

Guidewire Software Price Performance

Shares of GWRE opened at $246.75 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.23 and a current ratio of 3.23. The stock has a 50 day simple moving average of $216.90 and a 200 day simple moving average of $198.60. Guidewire Software, Inc. has a 52-week low of $132.01 and a 52-week high of $263.20. The firm has a market capitalization of $20.77 billion, a PE ratio of 616.88, a P/E/G ratio of 24.24 and a beta of 1.15.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.41. Guidewire Software had a return on equity of 6.96% and a net margin of 3.04%. The business had revenue of $293.51 million during the quarter, compared to analyst estimates of $286.40 million. During the same period in the previous year, the firm earned $0.26 EPS. Guidewire Software’s quarterly revenue was up 22.0% compared to the same quarter last year. Sell-side analysts predict that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $184.41, for a total value of $258,174.00. Following the sale, the chief executive officer now owns 259,993 shares in the company, valued at approximately $47,945,309.13. The trade was a 0.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President John P. Mullen sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $187.95, for a total value of $432,285.00. Following the completion of the sale, the president now owns 164,030 shares in the company, valued at $30,829,438.50. The trade was a 1.38% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,160 shares of company stock worth $3,482,079. 0.48% of the stock is owned by company insiders.

Guidewire Software Company Profile

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.