LPL Financial LLC Sells 15,558 Shares of Guidewire Software, Inc. (NYSE:GWRE)

LPL Financial LLC lowered its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 30.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,146 shares of the technology company’s stock after selling 15,558 shares during the quarter. LPL Financial LLC’s holdings in Guidewire Software were worth $6,585,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GWRE. HB Wealth Management LLC lifted its holdings in Guidewire Software by 854.4% during the first quarter. HB Wealth Management LLC now owns 20,167 shares of the technology company’s stock valued at $3,778,000 after purchasing an additional 18,054 shares during the last quarter. Assetmark Inc. lifted its holdings in Guidewire Software by 1,419.4% during the first quarter. Assetmark Inc. now owns 2,735 shares of the technology company’s stock valued at $512,000 after purchasing an additional 2,555 shares during the last quarter. ANB Bank lifted its holdings in Guidewire Software by 3.5% during the first quarter. ANB Bank now owns 1,590 shares of the technology company’s stock valued at $298,000 after purchasing an additional 54 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Guidewire Software by 20.7% during the first quarter. Cetera Investment Advisers now owns 25,706 shares of the technology company’s stock valued at $4,816,000 after purchasing an additional 4,414 shares during the last quarter. Finally, AE Wealth Management LLC purchased a new stake in Guidewire Software during the first quarter valued at about $342,000.

Guidewire Software Trading Down 2.0%

Shares of GWRE opened at $209.03 on Tuesday. The firm’s 50 day simple moving average is $232.42 and its 200 day simple moving average is $211.54. The company has a market capitalization of $17.60 billion, a P/E ratio of 522.58, a P/E/G ratio of 15.04 and a beta of 1.16. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.23 and a quick ratio of 3.23. Guidewire Software, Inc. has a 1-year low of $142.94 and a 1-year high of $263.20.

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

Insider Transactions at Guidewire Software

In other news, President John P. Mullen sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $223.28, for a total value of $669,840.00. Following the completion of the sale, the president directly owned 143,489 shares in the company, valued at approximately $32,038,223.92. The trade was a 2.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael George Rosenbaum sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $212.44, for a total transaction of $297,416.00. Following the completion of the sale, the chief executive officer owned 227,468 shares of the company’s stock, valued at approximately $48,323,301.92. The trade was a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,742 shares of company stock worth $5,870,207. 0.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GWRE has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a report on Wednesday, June 4th. The Goldman Sachs Group raised their price objective on shares of Guidewire Software from $235.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Wall Street Zen upgraded shares of Guidewire Software from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. JPMorgan Chase & Co. raised their price objective on shares of Guidewire Software from $271.00 to $288.00 and gave the company an “overweight” rating in a research report on Wednesday, June 25th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $290.00 price objective on shares of Guidewire Software in a research report on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $250.92.

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.