Guidewire Software, Inc. $GWRE Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership cut its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 11.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,327,795 shares of the technology company’s stock after selling 180,151 shares during the quarter. Artisan Partners Limited Partnership owned about 1.56% of Guidewire Software worth $305,207,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GWRE. Wealth Enhancement Advisory Services LLC increased its position in shares of Guidewire Software by 57.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 51,694 shares of the technology company’s stock valued at $11,735,000 after acquiring an additional 18,774 shares during the period. Scalar Gauge Management LLC purchased a new stake in Guidewire Software during the 3rd quarter valued at about $5,287,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Guidewire Software in the third quarter valued at about $51,967,000. Y Intercept Hong Kong Ltd increased its holdings in shares of Guidewire Software by 59.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 27,763 shares of the technology company’s stock valued at $6,382,000 after purchasing an additional 10,364 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Guidewire Software by 12.8% in the third quarter. Assenagon Asset Management S.A. now owns 150,957 shares of the technology company’s stock worth $34,699,000 after purchasing an additional 17,151 shares during the last quarter.

Guidewire Software Stock Performance

NYSE GWRE opened at $144.16 on Friday. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 137.30, a PEG ratio of 8.76 and a beta of 1.06. The stock has a 50-day moving average of $160.69 and a 200 day moving average of $203.22. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.44. Guidewire Software, Inc. has a twelve month low of $120.37 and a twelve month high of $272.60.

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

Guidewire Software announced that its Board of Directors has initiated a share buyback program on Thursday, January 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 216 shares of the stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $180.87, for a total transaction of $39,067.92. Following the transaction, the chief financial officer directly owned 72,753 shares of the company’s stock, valued at $13,158,835.11. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $125.50, for a total transaction of $150,600.00. Following the completion of the sale, the chief executive officer owned 229,543 shares in the company, valued at approximately $28,807,646.50. This trade represents a 0.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 47,160 shares of company stock valued at $8,917,644. 0.46% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. DA Davidson upgraded Guidewire Software from a “neutral” rating to a “buy” rating and upped their target price for the company from $246.00 to $250.00 in a research report on Wednesday, December 17th. Oppenheimer decreased their price objective on shares of Guidewire Software from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Tuesday. Citizens Jmp reiterated a “market outperform” rating and issued a $281.00 price objective on shares of Guidewire Software in a research note on Wednesday, December 10th. BTIG Research decreased their target price on shares of Guidewire Software from $225.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a report on Thursday, January 22nd. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.92.

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.