Andra AP fonden Sells 9,830 Shares of Guidewire Software, Inc. $GWRE

Andra AP fonden lessened its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 80.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,459 shares of the technology company’s stock after selling 9,830 shares during the period. Andra AP fonden’s holdings in Guidewire Software were worth $565,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Guidewire Software by 57.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 51,694 shares of the technology company’s stock valued at $11,735,000 after purchasing an additional 18,774 shares during the last quarter. Scalar Gauge Management LLC bought a new stake in Guidewire Software during the third quarter worth about $5,287,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Guidewire Software during the 3rd quarter worth approximately $51,967,000. Y Intercept Hong Kong Ltd increased its stake in shares of Guidewire Software by 59.6% in the 3rd 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 last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings 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 acquiring an additional 17,151 shares during the last quarter.

Insider Transactions at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $125.50, for a total value of $150,600.00. Following the transaction, the chief executive officer owned 229,543 shares in the company, valued at $28,807,646.50. This trade represents a 0.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey Elliott Cooper sold 216 shares of the business’s stock in a transaction 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 $13,158,835.11. This represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 42,760 shares of company stock worth $7,978,508. 0.46% of the stock is currently owned by insiders.

Guidewire Software Stock Performance

Guidewire Software stock opened at $145.53 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.48 and a current ratio of 3.48. The firm’s fifty day moving average price is $159.60 and its 200-day moving average price is $202.70. Guidewire Software, Inc. has a fifty-two week low of $120.37 and a fifty-two week high of $272.60. The stock has a market cap of $12.37 billion, a P/E ratio of 138.60, a price-to-earnings-growth ratio of 9.37 and a beta of 1.05.

Guidewire Software (NYSE:GWRE) last announced 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 company had revenue of $332.64 million for the quarter, compared to analysts’ expectations of $316.62 million. Guidewire Software had a return on equity of 10.15% and a net margin of 7.23%.Guidewire Software’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period last year, the firm posted $0.43 EPS. On average, equities research analysts expect that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Guidewire Software declared that its board has approved a stock buyback program on Thursday, January 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GWRE shares. Oppenheimer lowered their price objective on Guidewire Software from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a report on Thursday, January 22nd. Zacks Research lowered shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Citigroup lifted their target price on Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Finally, BTIG Research reduced their price objective 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. Eleven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.92.

Guidewire Software 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.