Guidewire Software, Inc. $GWRE Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lowered its position in Guidewire Software, Inc. (NYSE:GWRE) by 18.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 288,327 shares of the technology company’s stock after selling 66,372 shares during the period. Congress Asset Management Co. owned approximately 0.34% of Guidewire Software worth $57,957,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GWRE. Measured Wealth Private Client Group LLC purchased a new position in Guidewire Software during the 3rd quarter worth approximately $29,000. Root Financial Partners LLC purchased a new stake in shares of Guidewire Software in the 3rd quarter valued at $29,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Guidewire Software in the second quarter worth $30,000. Advisors Asset Management Inc. acquired a new stake in shares of Guidewire Software in the first quarter worth $25,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Guidewire Software by 620.0% during the third quarter. Cornerstone Planning Group LLC now owns 144 shares of the technology company’s stock worth $34,000 after purchasing an additional 124 shares during the last quarter.

Analyst Ratings Changes

GWRE has been the subject of a number of research reports. Citizens Jmp restated a “market outperform” rating and set a $281.00 target price on shares of Guidewire Software in a research report on Wednesday, December 10th. Wall Street Zen downgraded Guidewire Software from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Citigroup lifted their price objective on Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. DA Davidson reissued a “buy” rating and issued a $246.00 price objective on shares of Guidewire Software in a report on Tuesday, March 10th. Finally, Zacks Research upgraded Guidewire Software from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Guidewire Software has an average rating of “Moderate Buy” and an average price target of $249.85.

Guidewire Software Stock Performance

Shares of NYSE GWRE opened at $156.69 on Tuesday. The company has a market capitalization of $13.27 billion, a PE ratio of 71.22, a price-to-earnings-growth ratio of 7.05 and a beta of 1.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.93 and a current ratio of 2.93. The company’s fifty day moving average price is $147.64 and its 200 day moving average price is $196.33. Guidewire Software, Inc. has a 1 year low of $120.37 and a 1 year high of $272.60.

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

Guidewire Software announced that its board has initiated a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 4,757 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $158.72, for a total value of $755,031.04. Following the completion of the transaction, the chief financial officer owned 67,996 shares of the company’s stock, valued at approximately $10,792,325.12. This represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President John P. Mullen sold 6,576 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $163.86, for a total value of $1,077,543.36. Following the transaction, the president owned 135,407 shares in the company, valued at $22,187,791.02. This represents a 4.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,495 shares of company stock worth $4,920,164 in the last 90 days. Corporate insiders own 0.46% of the company’s stock.

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.