Teca Partners LP Reduces Stake in Guidewire Software, Inc. $GWRE

Teca Partners LP trimmed its position in Guidewire Software, Inc. (NYSE:GWRE) by 53.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,099 shares of the technology company’s stock after selling 67,057 shares during the period. Guidewire Software accounts for 6.1% of Teca Partners LP’s portfolio, making the stock its 9th biggest position. Teca Partners LP’s holdings in Guidewire Software were worth $8,839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GWRE. Geode Capital Management LLC lifted its position in Guidewire Software by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company’s stock valued at $357,504,000 after buying an additional 145,924 shares during the period. Stockbridge Partners LLC boosted its holdings in shares of Guidewire Software by 39.0% during the 4th quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company’s stock valued at $290,501,000 after buying an additional 405,850 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Guidewire Software by 3.6% during the 4th quarter. AQR Capital Management LLC now owns 1,316,817 shares of the technology company’s stock valued at $264,693,000 after buying an additional 45,289 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Guidewire Software by 547.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock worth $176,537,000 after buying an additional 997,992 shares during the period. Finally, Capital World Investors purchased a new stake in shares of Guidewire Software in the 4th quarter worth about $202,405,000.

Wall Street Analyst Weigh In

GWRE has been the subject of a number of recent research reports. Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. DA Davidson cut their price objective on shares of Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a research note on Wednesday, June 3rd. Stifel Nicolaus lowered their target price on shares of Guidewire Software from $225.00 to $200.00 and set a “buy” rating for the company in a report on Friday, June 5th. Finally, Oppenheimer dropped their price target on Guidewire Software from $250.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Guidewire Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.00.

Insider Activity

In other news, President John P. Mullen sold 4,292 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $509,632.08. Following the transaction, the president owned 131,115 shares in the company, valued at approximately $15,568,595.10. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Winston King sold 1,684 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $130.64, for a total transaction of $219,997.76. Following the sale, the insider owned 30,018 shares in the company, valued at approximately $3,921,551.52. The trade was a 5.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,993 shares of company stock valued at $3,627,150 over the last ninety days. 0.46% of the stock is currently owned by corporate insiders.

Guidewire Software Price Performance

GWRE opened at $149.09 on Tuesday. The stock has a 50-day moving average price of $133.11 and a 200-day moving average price of $141.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44. The firm has a market cap of $12.41 billion, a PE ratio of 80.59 and a beta of 0.95. Guidewire Software, Inc. has a 1 year low of $102.30 and a 1 year high of $272.60.

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

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.