Brown Brothers Harriman & Co. Has $170.47 Million Stock Position in Guidewire Software, Inc. $GWRE

Brown Brothers Harriman & Co. boosted its stake in Guidewire Software, Inc. (NYSE:GWRE) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 741,620 shares of the technology company’s stock after purchasing an additional 13,407 shares during the quarter. Guidewire Software comprises 1.0% of Brown Brothers Harriman & Co.’s investment portfolio, making the stock its 29th biggest position. Brown Brothers Harriman & Co. owned 0.87% of Guidewire Software worth $170,469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Marshall Wace LLP lifted its stake in Guidewire Software by 20.4% during the third quarter. Marshall Wace LLP now owns 130,479 shares of the technology company’s stock worth $29,992,000 after purchasing an additional 22,130 shares during the last quarter. SurgoCap Partners LP raised its holdings in shares of Guidewire Software by 6.6% during the 3rd quarter. SurgoCap Partners LP now owns 750,174 shares of the technology company’s stock worth $172,435,000 after buying an additional 46,639 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Guidewire Software by 32.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 554,594 shares of the technology company’s stock valued at $127,479,000 after buying an additional 134,879 shares in the last quarter. Employees Retirement System of Texas grew its position in Guidewire Software by 26.4% in the third quarter. Employees Retirement System of Texas now owns 781 shares of the technology company’s stock valued at $180,000 after acquiring an additional 163 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Guidewire Software by 10.5% during the 3rd quarter. Sei Investments Co. now owns 301,090 shares of the technology company’s stock valued at $69,210,000 after purchasing an additional 28,686 shares during the last quarter.

Insiders Place Their Bets

In other news, CEO Michael George Rosenbaum sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $166.34, for a total transaction 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. This trade represents a 0.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Elliott Cooper sold 4,757 shares of Guidewire Software stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $158.72, for a total transaction of $755,031.04. Following the completion of the sale, the chief financial officer directly owned 67,996 shares in the company, valued at $10,792,325.12. This trade represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 47,317 shares of company stock worth $8,637,929 over the last quarter. Company insiders own 0.46% of the company’s stock.

Guidewire Software Trading Up 1.9%

NYSE:GWRE opened at $160.56 on Friday. Guidewire Software, Inc. has a 52 week low of $120.37 and a 52 week high of $272.60. The firm has a 50-day moving average price of $150.75 and a two-hundred day moving average price of $199.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.48 and a current ratio of 2.93. The firm has a market cap of $13.59 billion, a price-to-earnings ratio of 72.98, a price-to-earnings-growth ratio of 10.16 and a beta of 1.06.

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

Guidewire Software announced that its Board of Directors has initiated a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus reduced their price objective on Guidewire Software from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Citigroup raised their price objective on shares of Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, December 5th. BTIG Research upped their price target on shares of Guidewire Software from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Citizens Jmp reiterated a “market outperform” rating and set a $281.00 price target on shares of Guidewire Software in a report on Wednesday, December 10th. Finally, Royal Bank Of Canada reduced their price objective on shares of Guidewire Software from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.85.

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.