Capital International Investors Cuts Holdings in Guidewire Software, Inc. $GWRE

Capital International Investors decreased its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 41.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 239,672 shares of the technology company’s stock after selling 173,149 shares during the period. Capital International Investors owned about 0.28% of Guidewire Software worth $55,091,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Guidewire Software by 57.0% during 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 acquiring an additional 18,774 shares in the last quarter. Scalar Gauge Management LLC purchased a new position in shares of Guidewire Software in the 3rd quarter valued at approximately $5,287,000. American Century Companies Inc. boosted its stake in Guidewire Software by 3.4% in the 3rd quarter. American Century Companies Inc. now owns 520,390 shares of the technology company’s stock worth $119,617,000 after purchasing an additional 17,104 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in Guidewire Software by 901.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 9,110 shares of the technology company’s stock worth $2,094,000 after purchasing an additional 8,200 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Guidewire Software during the 3rd quarter worth approximately $51,967,000.

Insider Buying and Selling at Guidewire Software

In other news, CFO Jeffrey Elliott Cooper sold 216 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $180.87, for a total value of $39,067.92. Following the completion of the transaction, the chief financial officer owned 72,753 shares of the company’s stock, valued at $13,158,835.11. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael George Rosenbaum sold 1,200 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $166.34, for a total value of $199,608.00. Following the completion of the sale, the chief executive officer owned 227,143 shares in the company, valued at $37,782,966.62. The trade was a 0.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 42,560 shares of company stock worth $7,882,898. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GWRE has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their price target on shares of Guidewire Software from $300.00 to $250.00 and set a “buy” rating for the company in a report on Friday, March 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a report on Thursday, January 22nd. Oppenheimer cut their target price on Guidewire Software from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Zacks Research lowered Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Finally, Wells Fargo & Company lowered their price target on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Eleven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $249.85.

Guidewire Software Stock Performance

GWRE opened at $157.98 on Thursday. The company has a current ratio of 2.93, a quick ratio of 3.48 and a debt-to-equity ratio of 0.45. Guidewire Software, Inc. has a 12-month low of $120.37 and a 12-month high of $272.60. The firm has a 50 day moving average of $152.17 and a two-hundred day moving average of $199.70. The firm has a market capitalization of $13.37 billion, a PE ratio of 71.81, a P/E/G ratio of 10.24 and a beta of 1.06.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Thursday, March 5th. The technology company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.77 by $0.40. Guidewire Software had a net margin of 14.11% and a return on equity of 13.44%. The business had revenue of $359.10 million for the quarter, compared to the consensus estimate of $342.88 million. During the same period in the prior year, the firm earned $0.51 EPS. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. On average, analysts anticipate that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Guidewire Software declared that its Board of Directors has authorized a stock repurchase plan on Thursday, January 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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.