Wasatch Advisors LP Sells 733,218 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Wasatch Advisors LP decreased its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 27.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,953,196 shares of the technology company’s stock after selling 733,218 shares during the period. Guidewire Software comprises approximately 1.8% of Wasatch Advisors LP’s holdings, making the stock its 12th largest position. Wasatch Advisors LP’s holdings in Guidewire Software were worth $357,318,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in shares of Guidewire Software by 1.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 44,984 shares of the technology company’s stock worth $5,251,000 after acquiring an additional 738 shares during the period. Comerica Bank grew its stake in Guidewire Software by 61.7% in the first quarter. Comerica Bank now owns 25,024 shares of the technology company’s stock worth $2,921,000 after purchasing an additional 9,546 shares in the last quarter. Cetera Investment Advisers increased its holdings in Guidewire Software by 648.0% during the 1st quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company’s stock worth $2,114,000 after purchasing an additional 15,695 shares during the period. GAMMA Investing LLC raised its position in Guidewire Software by 42.1% during the 2nd quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock valued at $105,000 after purchasing an additional 225 shares in the last quarter. Finally, Lynx Investment Advisory purchased a new stake in shares of Guidewire Software in the 2nd quarter worth $41,000.

Analyst Upgrades and Downgrades

GWRE has been the topic of several research reports. Citigroup raised their price target on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. BTIG Research upped their price target on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. increased their price objective on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Finally, JMP Securities boosted their price objective on shares of Guidewire Software from $200.00 to $231.00 and gave the stock a “market outperform” rating in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $186.08.

Insiders Place Their Bets

In related news, CEO Michael George Rosenbaum sold 23,379 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $4,024,928.64. Following the sale, the chief executive officer now owns 287,662 shares in the company, valued at $49,523,889.92. This represents a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President John P. Mullen sold 1,350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total transaction of $266,922.00. Following the transaction, the president now directly owns 189,261 shares of the company’s stock, valued at $37,420,684.92. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,601 shares of company stock valued at $9,116,179. Insiders own 0.48% of the company’s stock.

Guidewire Software Price Performance

Shares of NYSE:GWRE opened at $202.87 on Friday. The business’s 50-day moving average is $188.72 and its 200 day moving average is $157.29. Guidewire Software, Inc. has a 1 year low of $95.02 and a 1 year high of $207.10. The firm has a market capitalization of $16.94 billion, a P/E ratio of -2,535.88, a P/E/G ratio of 52.22 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The firm had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.30 earnings per share. On average, analysts expect that Guidewire Software, Inc. will post 0.53 EPS for the current year.

Guidewire Software Company 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.