Alberta Investment Management Corp Decreases Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Key Points

• Alberta Investment Management Corp reduced its stake in Guidewire Software by 37% during the first quarter, owning 13,171 shares valued at approximately $2.47 million.
• Guidewire Software reported $0.88 earnings per share for the last quarter, exceeding the consensus estimate by $0.41, with a revenue increase of 22% year-over-year.
• Analysts have issued varied ratings on Guidewire Software, with an average rating of "Moderate Buy" and a consensus price target of $250.92.

Alberta Investment Management Corp reduced its position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 37.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,171 shares of the technology company's stock after selling 7,736 shares during the period. Alberta Investment Management Corp's holdings in Guidewire Software were worth $2,468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GWRE. SBI Securities Co. Ltd. grew its holdings in shares of Guidewire Software by 403.8% during the first quarter. SBI Securities Co. Ltd. now owns 131 shares of the technology company's stock worth $25,000 after purchasing an additional 105 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Guidewire Software by 70.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company's stock worth $32,000 after purchasing an additional 70 shares in the last quarter. Ossiam purchased a new position in shares of Guidewire Software during the fourth quarter worth about $29,000. Dunhill Financial LLC purchased a new position in shares of Guidewire Software during the first quarter worth about $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Guidewire Software by 101.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company's stock worth $34,000 after purchasing an additional 99 shares in the last quarter.

Guidewire Software Stock Down 0.5%

Shares of NYSE GWRE traded down $1.15 during mid-day trading on Tuesday, reaching $225.04. 28,897 shares of the company were exchanged, compared to its average volume of 988,959. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.49. The stock has a market cap of $18.95 billion, a price-to-earnings ratio of 562.78, a P/E/G ratio of 15.71 and a beta of 1.16. Guidewire Software, Inc. has a 1 year low of $139.45 and a 1 year high of $263.20. The firm has a 50-day moving average of $231.82 and a 200 day moving average of $210.61.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.41. Guidewire Software had a return on equity of 6.96% and a net margin of 3.04%. The firm had revenue of $293.51 million during the quarter, compared to analysts' expectations of $286.40 million. During the same period in the prior year, the business posted $0.26 EPS. The firm's quarterly revenue was up 22.0% on a year-over-year basis. On average, research analysts expect that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GWRE shares. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $290.00 target price on shares of Guidewire Software in a research note on Monday, June 23rd. The Goldman Sachs Group upped their target price on Guidewire Software from $235.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. DA Davidson reaffirmed a "neutral" rating and issued a $226.00 target price on shares of Guidewire Software in a research note on Wednesday, June 4th. JMP Securities upped their target price on Guidewire Software from $250.00 to $281.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 4th. Finally, Wells Fargo & Company increased their price objective on Guidewire Software from $220.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $250.92.

Insiders Place Their Bets

In related news, insider James Winston King sold 2,482 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $220.65, for a total value of $547,653.30. Following the completion of the sale, the insider owned 37,441 shares of the company's stock, valued at approximately $8,261,356.65. This trade represents a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $256.50, for a total value of $359,100.00. Following the completion of the sale, the chief executive officer directly owned 245,993 shares of the company's stock, valued at approximately $63,097,204.50. This represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,342 shares of company stock worth $5,572,791. 0.48% of the stock is owned by corporate insiders.

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.