22,170 Guidewire Software, Inc. $GWRE Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its Guidewire Software stake by 19.3% in the third quarter, selling 22,170 shares and retaining 92,448 shares valued at approximately $13.2 million.
• Analysts remain broadly positive, with 12 Buy ratings and four Holds; Guidewire has a consensus rating of Moderate Buy and an average price target of $216.23.
• Guidewire exceeded quarterly expectations, reporting $0.99 earnings per share versus $0.93 expected and $411.1 million in revenue, up 15.3% year over year. Insiders also sold shares under pre-arranged plans primarily to cover tax obligations.

Assenagon Asset Management S.A. lessened its stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 19.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,448 shares of the technology company's stock after selling 22,170 shares during the quarter. Assenagon Asset Management S.A. owned about 0.11% of Guidewire Software worth $13,181,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GWRE shares. Guggenheim boosted their price target on shares of Guidewire Software from $180.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Robert W. Baird raised their price objective on Guidewire Software from $202.00 to $235.00 and gave the stock an "outperform" rating in a research note on Monday, August 31st. Citigroup raised their price objective on Guidewire Software from $137.00 to $181.00 and gave the stock a "neutral" rating in a research note on Friday, September 4th. BTIG Research lifted their target price on Guidewire Software from $175.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, September 2nd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Guidewire Software in a research note on Monday, August 31st. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $216.23.

Guidewire Software Trading Up 1.6%

NYSE GWRE opened at $171.50 on Tuesday. The stock has a market capitalization of $14.28 billion, a price-to-earnings ratio of 105.21 and a beta of 1.02. The stock's 50 day moving average price is $166.92 and its two-hundred day moving average price is $147.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.79 and a current ratio of 1.79. Guidewire Software, Inc. has a 52 week low of $102.30 and a 52 week high of $255.89.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its quarterly earnings results on Thursday, September 3rd. The technology company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.06. Guidewire Software had a net margin of 9.44% and a return on equity of 12.66%. The company had revenue of $411.09 million during the quarter, compared to analysts' expectations of $402.61 million. During the same period last year, the business earned $0.84 EPS. The business's quarterly revenue was up 15.3% on a year-over-year basis. As a group, analysts anticipate that Guidewire Software, Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, insider James King sold 11,814 shares of Guidewire Software stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $144.47, for a total value of $1,706,768.58. Following the sale, the insider directly owned 45,939 shares in the company, valued at approximately $6,636,807.33. The trade was a 20.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Rosenbaum sold 72,290 shares of the business's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $144.47, for a total transaction of $10,443,736.30. Following the sale, the chief executive officer directly owned 280,866 shares in the company, valued at $40,576,711.02. This trade represents a 20.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 201,935 shares of company stock valued at $30,381,323 in the last three months. 0.46% of the stock is currently owned by insiders.

About Guidewire Software

Guidewire Software, Inc provides cloud-based software designed for the property and casualty insurance industry. Its platform helps insurers manage core operations, including policy administration, billing, claims management, underwriting, and digital customer engagement.

The company's principal offerings include InsuranceSuite, which incorporates PolicyCenter, BillingCenter, and ClaimCenter, as well as products for insurance data management, analytics, digital experiences, and application development.

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