Guidewire Software, Inc. $GWRE Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC cut its stake in Guidewire Software, Inc. (NYSE:GWRE) by 7.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 248,365 shares of the technology company’s stock after selling 18,594 shares during the period. Riverbridge Partners LLC owned about 0.30% of Guidewire Software worth $35,412,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Bamco Inc. NY purchased a new stake in Guidewire Software in the 2nd quarter valued at about $1,106,768,000. Linonia Partnership LP bought a new position in Guidewire Software in the 2nd quarter worth about $853,165,000. Route One Investment Company L.P. bought a new position in Guidewire Software in the 2nd quarter worth about $227,564,000. Van ECK Associates Corp bought a new position in Guidewire Software in the 2nd quarter worth about $149,611,000. Finally, Principal Financial Group Inc. increased its position in shares of Guidewire Software by 547.3% during the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock worth $176,537,000 after acquiring an additional 997,992 shares during the period.

Wall Street Analyst Weigh In

GWRE has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a research note on Monday, August 31st. Citigroup boosted their price target on Guidewire Software from $137.00 to $181.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Guggenheim raised their price objective on Guidewire Software from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. BTIG Research raised their price objective on Guidewire Software from $175.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Finally, DA Davidson reaffirmed a “buy” rating and set a $222.00 target price on shares of Guidewire Software in a research report on Friday, October 2nd. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $216.23.

Guidewire Software Stock Down 3.1%

NYSE:GWRE opened at $155.78 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.79 and a quick ratio of 1.79. Guidewire Software, Inc. has a 1-year low of $102.30 and a 1-year high of $229.85. The company has a 50-day moving average of $162.35 and a 200 day moving average of $149.30. The firm has a market cap of $12.87 billion, a PE ratio of 95.57 and a beta of 1.01.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, September 3rd. The technology company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. Guidewire Software had a net margin of 9.44% and a return on equity of 12.66%. The business had revenue of $411.09 million for the quarter, compared to the consensus estimate of $402.61 million. During the same quarter last year, the firm posted $0.84 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, research analysts anticipate that Guidewire Software, Inc. will post 2.45 EPS for the current fiscal year.

Insider Activity

In related news, President John Mullen sold 39,683 shares of Guidewire Software stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $144.47, for a total transaction of $5,733,003.01. Following the transaction, the president directly owned 183,647 shares of the company’s stock, valued at $26,531,482.09. This trade represents a 17.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO David Peterson sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $200.00, for a total transaction of $500,000.00. Following the completion of the transaction, the chief accounting officer directly owned 9,787 shares of the company’s stock, valued at $1,957,400. This trade represents a 20.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 209,135 shares of company stock valued at $31,764,329. 0.50% of the stock is currently owned by corporate insiders.

About Guidewire Software

Guidewire Software develops software for property and casualty insurance companies. Its products support core insurance operations, including policy administration, billing and claims management, as well as data analytics and digital customer services. The company offers its applications through Guidewire Cloud and provides related implementation and support services. Its platform includes products such as PolicyCenter, BillingCenter and ClaimCenter, designed to help insurers manage workflows and modernize their technology systems.