Guidewire Software, Inc. (NYSE:GWRE) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lessened its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 970,973 shares of the technology company’s stock after selling 5,673 shares during the period. Guidewire Software makes up approximately 1.0% of Brown Brothers Harriman & Co.’s portfolio, making the stock its 26th largest position. Brown Brothers Harriman & Co. owned 1.17% of Guidewire Software worth $133,887,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in Guidewire Software in the fourth quarter valued at approximately $97,829,000. PNC Financial Services Group Inc. lifted its position in shares of Guidewire Software by 8.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,900 shares of the technology company’s stock worth $970,000 after purchasing an additional 678 shares during the last quarter. Clearbridge Investments LLC acquired a new position in shares of Guidewire Software during the fourth quarter worth $14,583,000. Corient Private Wealth LLC grew its stake in shares of Guidewire Software by 126.6% during the fourth quarter. Corient Private Wealth LLC now owns 8,912 shares of the technology company’s stock worth $972,000 after purchasing an additional 4,979 shares in the last quarter. Finally, Fortis Capital Advisors LLC purchased a new position in Guidewire Software in the fourth quarter valued at $315,000.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GWRE. BTIG Research upped their price objective on Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Stifel Nicolaus upped their price target on Guidewire Software from $140.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Wells Fargo & Company raised their price objective on shares of Guidewire Software from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Robert W. Baird upped their target price on shares of Guidewire Software from $152.00 to $165.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $161.69.

Insiders Place Their Bets

In other news, CEO Michael George Rosenbaum sold 5,582 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $751,002.28. Following the transaction, the chief executive officer now directly owns 239,793 shares in the company, valued at $32,261,750.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Michael George Rosenbaum sold 5,582 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total value of $751,002.28. Following the completion of the sale, the chief executive officer now directly owns 239,793 shares of the company’s stock, valued at approximately $32,261,750.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total value of $201,190.50. Following the completion of the sale, the insider now owns 137,821 shares in the company, valued at $20,539,463.63. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,064 shares of company stock worth $1,782,775. 0.38% of the stock is owned by insiders.

Guidewire Software Stock Up 1.2 %

NYSE GWRE opened at $171.81 on Monday. The business’s 50-day moving average price is $147.64 and its 200 day moving average price is $129.92. The firm has a market cap of $14.20 billion, a P/E ratio of -1,321.51 and a beta of 1.18. Guidewire Software, Inc. has a 52-week low of $85.15 and a 52-week high of $171.95.

Guidewire Software (NYSE:GWRE) last released its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative return on equity of 1.32% and a negative net margin of 0.62%. The business had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that Guidewire Software, Inc. will post 0.49 earnings per share for the current year.

Guidewire Software Profile

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.