Allspring Global Investments Holdings LLC Decreases Stock Holdings in Guidewire Software, Inc. $GWRE

Allspring Global Investments Holdings LLC trimmed its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 27.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 345,976 shares of the technology company’s stock after selling 133,883 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.41% of Guidewire Software worth $51,405,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital World Investors purchased a new stake in Guidewire Software in the 4th quarter valued at approximately $202,405,000. Principal Financial Group Inc. grew its holdings in Guidewire Software by 547.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock valued at $176,537,000 after buying an additional 997,992 shares during the last quarter. Alliancebernstein L.P. increased its position in Guidewire Software by 405.1% during the second quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company’s stock worth $126,743,000 after buying an additional 431,725 shares in the last quarter. Stockbridge Partners LLC increased its position in Guidewire Software by 39.0% during the fourth quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company’s stock worth $290,501,000 after buying an additional 405,850 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Guidewire Software by 179.0% in the first quarter. Assenagon Asset Management S.A. now owns 628,759 shares of the technology company’s stock worth $94,037,000 after acquiring an additional 403,370 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Citizens Jmp lowered their target price on shares of Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a research note on Friday, June 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. Wells Fargo & Company reduced their price target on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Finally, Oppenheimer decreased their price objective on Guidewire Software from $250.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, May 18th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $224.42.

Guidewire Software Stock Up 0.7%

Shares of NYSE:GWRE opened at $149.93 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44. Guidewire Software, Inc. has a 1 year low of $102.30 and a 1 year high of $272.60. The stock has a market capitalization of $12.48 billion, a P/E ratio of 81.04 and a beta of 0.95. The stock has a 50-day simple moving average of $131.86 and a 200-day simple moving average of $143.78.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The firm had revenue of $372.54 million for the quarter, compared to analyst estimates of $355.92 million. During the same quarter last year, the firm posted $0.88 earnings per share. Guidewire Software’s revenue for the quarter was up 26.9% compared to the same quarter last year. Equities analysts forecast that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

Insider Buying and Selling

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 2,594 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $308,011.56. Following the completion of the transaction, the chief financial officer owned 63,467 shares in the company, valued at $7,536,071.58. This represents a 3.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Winston King sold 1,684 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $130.64, for a total value of $219,997.76. Following the completion of the transaction, the insider owned 30,018 shares of the company’s stock, valued at approximately $3,921,551.52. This represents a 5.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 31,393 shares of company stock valued at $3,960,558. 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.