Guidewire Software, Inc. $GWRE Shares Sold by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP trimmed its position in Guidewire Software, Inc. (NYSE:GWRE) by 64.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 27,484 shares of the technology company’s stock after selling 49,176 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Guidewire Software were worth $6,317,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd grew its position in Guidewire Software by 3,636.9% in the second quarter. Qube Research & Technologies Ltd now owns 731,467 shares of the technology company’s stock worth $172,224,000 after acquiring an additional 711,893 shares during the period. Groupama Asset Managment increased its position in shares of Guidewire Software by 240.0% in the 2nd quarter. Groupama Asset Managment now owns 850,000 shares of the technology company’s stock valued at $200,132,000 after purchasing an additional 600,000 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Guidewire Software by 405.1% in the second quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company’s stock valued at $126,743,000 after buying an additional 431,725 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Guidewire Software during the 3rd quarter worth about $51,967,000. Finally, Vanguard Group Inc. grew its position in shares of Guidewire Software by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,922,651 shares of the technology company’s stock valued at $2,100,838,000 after buying an additional 211,047 shares during the last quarter.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $160.56 on Monday. Guidewire Software, Inc. has a one year low of $120.37 and a one year high of $272.60. 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 stock has a market capitalization of $13.59 billion, a price-to-earnings ratio of 72.98, a PEG ratio of 7.28 and a beta of 1.05. The company’s 50-day simple moving average is $150.75 and its 200-day simple moving average is $198.84.

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

Guidewire Software declared that its Board of Directors has approved a share 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 generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on GWRE. Oppenheimer cut their price target on Guidewire Software from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Citigroup raised their price target on Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Wall Street Zen cut Guidewire Software from a “buy” rating to a “hold” rating in a report on Friday, November 28th. DA Davidson reissued a “buy” rating and set a $246.00 price target on shares of Guidewire Software in a research report on Tuesday, March 10th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $281.00 price target on shares of Guidewire Software in a report on Wednesday, December 10th. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $249.85.

Insiders Place Their Bets

In other Guidewire Software news, insider James Winston King sold 1,860 shares of Guidewire Software stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $195.00, for a total transaction of $362,700.00. Following the completion of the sale, the insider owned 33,702 shares of the company’s stock, valued at $6,571,890. This trade represents a 5.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President John P. Mullen sold 7,975 shares of Guidewire Software stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total transaction of $1,531,838.00. Following the completion of the sale, the president owned 141,983 shares of the company’s stock, valued at $27,272,094.64. This trade represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 45,917 shares of company stock worth $8,351,853 over the last quarter. Company insiders own 0.46% of the company’s stock.

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.