Bamco Inc. NY Sells 420,669 Shares of Guidewire Software, Inc. $GWRE

Bamco Inc. NY lowered its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 7.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,168,851 shares of the technology company’s stock after selling 420,669 shares during the period. Guidewire Software comprises about 3.2% of Bamco Inc. NY’s portfolio, making the stock its 6th biggest position. Bamco Inc. NY owned about 6.08% of Guidewire Software worth $1,188,112,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Earned Wealth Advisors LLC boosted its stake in shares of Guidewire Software by 5.4% during the third quarter. Earned Wealth Advisors LLC now owns 989 shares of the technology company’s stock valued at $227,000 after purchasing an additional 51 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Guidewire Software by 9.3% in the third quarter. Smartleaf Asset Management LLC now owns 624 shares of the technology company’s stock valued at $145,000 after buying an additional 53 shares during the period. PDS Planning Inc increased its stake in shares of Guidewire Software by 6.4% in the third quarter. PDS Planning Inc now owns 911 shares of the technology company’s stock valued at $209,000 after buying an additional 55 shares during the period. Arkadios Wealth Advisors raised its holdings in Guidewire Software by 1.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 3,739 shares of the technology company’s stock valued at $859,000 after buying an additional 62 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Guidewire Software by 7.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 963 shares of the technology company’s stock valued at $221,000 after buying an additional 67 shares during the last quarter.

Analysts Set New Price Targets

GWRE has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Guidewire Software from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. BTIG Research lifted their price target on shares of Guidewire Software from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Citigroup boosted their price objective on shares of Guidewire Software from $242.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $281.00 price objective on shares of Guidewire Software in a report on Wednesday, December 10th. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Guidewire Software currently has an average rating of “Moderate Buy” and a consensus target price of $249.85.

Insider Activity at Guidewire Software

In other Guidewire Software news, 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 value of $755,031.04. Following the completion of the sale, the chief financial officer directly owned 67,996 shares in the company, valued at approximately $10,792,325.12. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael George Rosenbaum sold 1,200 shares of the business’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 value of $199,608.00. Following the completion of the transaction, the chief executive officer directly owned 227,143 shares in the company, valued at approximately $37,782,966.62. This trade represents a 0.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 47,317 shares of company stock valued at $8,637,929 in the last ninety days. 0.46% of the stock is currently owned by insiders.

Guidewire Software Price Performance

GWRE stock opened at $160.56 on Friday. The company has a quick ratio of 3.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.45. The firm has a market cap of $13.59 billion, a price-to-earnings ratio of 72.98, a PEG ratio of 10.35 and a beta of 1.06. The company’s fifty day simple moving average is $150.75 and its 200 day simple moving average is $198.96. Guidewire Software, Inc. has a 12-month low of $120.37 and a 12-month high of $272.60.

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

Guidewire Software declared that its board has initiated a share buyback plan on Thursday, January 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership 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.