Chesapeake Asset Management LLC Decreases Stake in Guidewire Software, Inc. $GWRE

Chesapeake Asset Management LLC cut its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 63.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,085 shares of the technology company’s stock after selling 3,643 shares during the quarter. Chesapeake Asset Management LLC’s holdings in Guidewire Software were worth $479,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Rafferty Asset Management LLC purchased a new position in Guidewire Software in the first quarter worth approximately $268,000. Canada Pension Plan Investment Board lifted its position in shares of Guidewire Software by 121.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 23,300 shares of the technology company’s stock worth $4,365,000 after purchasing an additional 12,800 shares during the last quarter. Evergreen Capital Management LLC grew its stake in shares of Guidewire Software by 24.3% during the first quarter. Evergreen Capital Management LLC now owns 1,728 shares of the technology company’s stock worth $324,000 after purchasing an additional 338 shares in the last quarter. Vident Advisory LLC increased its holdings in Guidewire Software by 24.4% in the first quarter. Vident Advisory LLC now owns 3,093 shares of the technology company’s stock valued at $580,000 after buying an additional 607 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in Guidewire Software by 47.9% in the first quarter. Panagora Asset Management Inc. now owns 112,931 shares of the technology company’s stock valued at $21,159,000 after buying an additional 36,568 shares in the last quarter.

Insiders Place Their Bets

In other Guidewire Software news, President John P. Mullen sold 7,975 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $192.08, for a total transaction of $1,531,838.00. Following the completion of the sale, the president directly owned 141,983 shares of the company’s stock, valued at $27,272,094.64. This represents a 5.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Elliott Cooper sold 1,232 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $195.00, for a total value of $240,240.00. Following the sale, the chief financial officer directly owned 72,969 shares of the company’s stock, valued at $14,228,955. The trade was a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 55,740 shares of company stock valued at $11,586,424. 0.46% of the stock is owned by insiders.

Guidewire Software Trading Down 0.2%

GWRE opened at $205.39 on Monday. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.44. Guidewire Software, Inc. has a 52 week low of $165.08 and a 52 week high of $272.60. The business’s 50 day moving average is $217.98 and its two-hundred day moving average is $226.25. The firm has a market cap of $17.46 billion, a price-to-earnings ratio of 195.61, a price-to-earnings-growth ratio of 13.46 and a beta of 1.08.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The business had revenue of $332.64 million for the quarter, compared to analyst estimates of $316.62 million. During the same period last year, the firm posted $0.43 earnings per share. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. On average, research analysts predict that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Zacks Research downgraded Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. DA Davidson raised Guidewire Software from a “neutral” rating to a “buy” rating and upped their price target for the company from $246.00 to $250.00 in a report on Wednesday, December 17th. Raymond James Financial reissued an “outperform” rating and set a $275.00 price objective (up previously from $255.00) on shares of Guidewire Software in a report on Friday, September 5th. Wells Fargo & Company boosted their price objective on shares of Guidewire Software from $265.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Finally, Oppenheimer upped their target price on shares of Guidewire Software from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Guidewire Software has an average rating of “Moderate Buy” and an average price target of $271.29.

About Guidewire Software

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.