Guidewire Software, Inc. $GWRE Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC lowered its position in Guidewire Software, Inc. (NYSE:GWRE) by 5.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 539,764 shares of the technology company’s stock after selling 31,748 shares during the quarter. Guidewire Software accounts for 1.6% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 3rd biggest position. Stephens Investment Management Group LLC owned 0.64% of Guidewire Software worth $124,070,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in Guidewire Software in the third quarter valued at approximately $51,967,000. Assenagon Asset Management S.A. increased its position 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 in the last quarter. Pacer Advisors Inc. raised its stake in shares of Guidewire Software by 176.2% in the 3rd quarter. Pacer Advisors Inc. now owns 11,215 shares of the technology company’s stock valued at $2,578,000 after acquiring an additional 7,154 shares during the period. CWM LLC lifted its holdings in shares of Guidewire Software by 43.8% during the 3rd quarter. CWM LLC now owns 31,772 shares of the technology company’s stock valued at $7,303,000 after acquiring an additional 9,670 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Guidewire Software during the 2nd quarter worth $954,000.

Wall Street Analyst Weigh In

GWRE has been the topic of several research reports. DA Davidson raised Guidewire Software from a “neutral” rating to a “buy” rating and raised their price objective for the company from $246.00 to $250.00 in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, October 8th. Citizens Jmp restated a “market outperform” rating and issued a $281.00 price target on shares of Guidewire Software in a report on Wednesday, December 10th. Wells Fargo & Company lowered their price objective on shares of Guidewire Software from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Finally, Citigroup boosted their target price on shares of Guidewire Software from $242.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Guidewire Software currently has an average rating of “Moderate Buy” and a consensus price target of $269.50.

Guidewire Software Stock Performance

Guidewire Software stock opened at $159.46 on Friday. Guidewire Software, Inc. has a 52 week low of $158.80 and a 52 week high of $272.60. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.44. The stock has a market cap of $13.56 billion, a P/E ratio of 151.87, a price-to-earnings-growth ratio of 10.82 and a beta of 1.08. The stock has a 50 day moving average of $201.96 and a 200-day moving average of $220.52.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The firm had revenue of $332.64 million for the quarter, compared to analysts’ expectations of $316.62 million. During the same period in the prior year, the company posted $0.43 earnings per share. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. On average, analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Guidewire Software declared that its Board of Directors has initiated a stock buyback program on Thursday, January 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 6,015 shares of Guidewire Software stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $192.08, for a total value of $1,155,361.20. Following the completion of the transaction, the chief executive officer directly owned 240,743 shares in the company, valued at approximately $46,241,915.44. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President John P. Mullen sold 7,975 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total value of $1,531,838.00. Following the sale, the president owned 141,983 shares in the company, valued at $27,272,094.64. The trade was a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 52,756 shares of company stock worth $10,779,570. 0.46% of the stock is currently owned by company insiders.

About Guidewire Software

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.