Allspring Global Investments Holdings LLC Lowers Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Allspring Global Investments Holdings LLC trimmed its position in Guidewire Software, Inc. (NYSE:GWRE) by 14.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,388 shares of the technology company’s stock after selling 3,210 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Guidewire Software were worth $3,695,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GWRE. Smartleaf Asset Management LLC increased its stake in Guidewire Software by 10.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 595 shares of the technology company’s stock worth $100,000 after acquiring an additional 56 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Guidewire Software by 70.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company’s stock worth $32,000 after purchasing an additional 70 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Guidewire Software by 16.4% during the first quarter. Fifth Third Bancorp now owns 569 shares of the technology company’s stock worth $107,000 after buying an additional 80 shares during the period. True Wealth Design LLC lifted its holdings in Guidewire Software by 14.4% during the fourth quarter. True Wealth Design LLC now owns 677 shares of the technology company’s stock worth $114,000 after buying an additional 85 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Guidewire Software by 101.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company’s stock worth $34,000 after buying an additional 99 shares during the period.

Guidewire Software Price Performance

NYSE:GWRE opened at $230.38 on Monday. Guidewire Software, Inc. has a 52 week low of $132.01 and a 52 week high of $263.20. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $19.40 billion, a PE ratio of 575.95, a price-to-earnings-growth ratio of 20.43 and a beta of 1.16. The stock’s 50-day moving average price is $226.05 and its 200-day moving average price is $202.95.

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

Insider Transactions at Guidewire Software

In related news, President John P. Mullen sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $235.05, for a total value of $705,150.00. Following the transaction, the president directly owned 146,489 shares of the company’s stock, valued at approximately $34,432,239.45. This trade represents a 2.01% decrease in their position. 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 firm’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $256.50, for a total transaction of $359,100.00. Following the completion of the transaction, the chief executive officer directly owned 245,993 shares in the company, valued at $63,097,204.50. This represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,460 shares of company stock worth $3,891,156 over the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GWRE. DA Davidson restated a “neutral” rating and set a $226.00 target price on shares of Guidewire Software in a report on Wednesday, June 4th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Wednesday, June 4th. JMP Securities increased their price objective on Guidewire Software from $250.00 to $281.00 and gave the company a “market outperform” rating in a report on Wednesday, June 4th. The Goldman Sachs Group increased their price objective on Guidewire Software from $235.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Finally, Oppenheimer upped their target price on Guidewire Software from $230.00 to $275.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $248.31.

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.