Federated Hermes Inc. Sells 5,764 Shares of Guidewire Software, Inc. $GWRE

Federated Hermes Inc. lessened its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 496,320 shares of the technology company’s stock after selling 5,764 shares during the quarter. Federated Hermes Inc. owned about 0.59% of Guidewire Software worth $114,084,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GWRE. Qube Research & Technologies Ltd raised its position in shares of Guidewire Software by 3,636.9% during the second quarter. Qube Research & Technologies Ltd now owns 731,467 shares of the technology company’s stock valued at $172,224,000 after buying an additional 711,893 shares during the last quarter. Groupama Asset Managment grew its stake in Guidewire Software by 240.0% during the second quarter. Groupama Asset Managment now owns 850,000 shares of the technology company’s stock valued at $200,132,000 after acquiring an additional 600,000 shares in the last quarter. Alliancebernstein L.P. grew its stake in Guidewire Software by 405.1% during the second quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company’s stock valued at $126,743,000 after acquiring an additional 431,725 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Guidewire Software in the 3rd quarter valued at $51,967,000. Finally, Vanguard Group Inc. increased its holdings in Guidewire Software by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,922,651 shares of the technology company’s stock valued at $2,100,838,000 after acquiring an additional 211,047 shares during the last quarter.

Guidewire Software Stock Performance

NYSE:GWRE opened at $162.62 on Thursday. The firm has a market capitalization of $13.83 billion, a PE ratio of 154.87, a PEG ratio of 10.44 and a beta of 1.08. The stock’s fifty day moving average is $192.62 and its 200 day moving average is $216.58. Guidewire Software, Inc. has a fifty-two week low of $154.51 and a fifty-two week high of $272.60. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.48 and a current ratio of 3.48.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. The business had revenue of $332.64 million for the quarter, compared to analysts’ expectations of $316.62 million. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The business’s revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. On average, sell-side analysts anticipate that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Guidewire Software announced that its board has authorized a stock buyback plan on Thursday, January 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Citigroup raised their price objective on Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Citizens Jmp reissued a “market outperform” rating and set a $281.00 price target on shares of Guidewire Software in a research note on Wednesday, December 10th. Zacks Research downgraded Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a report on Thursday, January 22nd. Finally, DA Davidson raised shares of Guidewire Software from a “neutral” rating to a “buy” rating and raised their target price for the company from $246.00 to $250.00 in a report on Wednesday, December 17th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $269.50.

Insiders Place Their Bets

In related news, CFO Jeffrey Elliott Cooper sold 216 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $180.87, for a total transaction of $39,067.92. Following the completion of the sale, the chief financial officer directly owned 72,753 shares of the company’s stock, valued at approximately $13,158,835.11. This trade represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Winston King sold 1,860 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $195.00, for a total value of $362,700.00. Following the completion of the transaction, the insider directly owned 33,702 shares in the company, valued at $6,571,890. This trade represents a 5.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 51,558 shares of company stock valued at $10,261,857. Corporate insiders own 0.46% of the company’s stock.

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.