Envestnet Portfolio Solutions Inc. Sells 1,387 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Envestnet Portfolio Solutions Inc. cut its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 19.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,684 shares of the technology company’s stock after selling 1,387 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Guidewire Software were worth $1,065,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its holdings in Guidewire Software by 70.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company’s stock worth $32,000 after buying an additional 70 shares during the last quarter. Ossiam bought a new position in shares of Guidewire Software in the 4th quarter valued at about $29,000. Dunhill Financial LLC bought a new position in shares of Guidewire Software in the 1st quarter valued at about $33,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Guidewire Software by 101.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company’s stock worth $34,000 after purchasing an additional 99 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Guidewire Software in the 4th quarter valued at about $34,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Guidewire Software from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Wednesday, June 4th. 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. DA Davidson reiterated a “neutral” rating and set a $226.00 target price on shares of Guidewire Software in a research note on Wednesday, June 4th. Finally, Oppenheimer lifted their price target on Guidewire Software from $230.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Guidewire Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.00.

Insider Buying and Selling at Guidewire Software

In related news, 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 transaction of $432,285.00. Following the completion of the sale, the president now directly owns 164,030 shares in the company, valued at approximately $30,829,438.50. The trade was a 1.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael George Rosenbaum sold 1,400 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 259,993 shares of the company’s stock, valued at $47,945,309.13. This trade represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,160 shares of company stock valued at $3,542,237. 0.48% of the stock is currently owned by company insiders.

Guidewire Software Price Performance

NYSE:GWRE opened at $237.27 on Wednesday. Guidewire Software, Inc. has a 52-week low of $132.01 and a 52-week high of $263.20. The stock has a fifty day moving average of $219.62 and a 200 day moving average of $199.41. 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 firm has a market capitalization of $19.98 billion, a price-to-earnings ratio of 593.17, a P/E/G ratio of 23.42 and a beta of 1.15.

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

Guidewire Software 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.