Allspring Global Investments Holdings LLC Decreases Stake in Guidewire Software, Inc. (NYSE:GWRE)

Allspring Global Investments Holdings LLC lessened its position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 14.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,388 shares of the technology company's stock after selling 3,210 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Guidewire Software were worth $3,695,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in Guidewire Software by 10.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 595 shares of the technology company's stock valued at $100,000 after buying an additional 56 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Guidewire Software by 70.0% in 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 during the period. Fifth Third Bancorp boosted its stake in shares of Guidewire Software by 16.4% during the first quarter. Fifth Third Bancorp now owns 569 shares of the technology company's stock valued at $107,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC lifted its holdings in Guidewire Software by 14.4% during the 4th quarter. True Wealth Design LLC now owns 677 shares of the technology company's stock valued at $114,000 after buying an additional 85 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake 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 valued at $34,000 after acquiring an additional 99 shares in the last quarter.

Guidewire Software Stock Up 0.1%

Shares of GWRE stock traded up $0.16 during trading on Wednesday, reaching $230.55. The company's stock had a trading volume of 106,065 shares, compared to its average volume of 965,381. The company has a market capitalization of $19.41 billion, a price-to-earnings ratio of 576.91, a P/E/G ratio of 20.71 and a beta of 1.16. Guidewire Software, Inc. has a 1-year low of $132.01 and a 1-year high of $263.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.23 and a quick ratio of 3.23. The stock's 50-day moving average price is $227.23 and its 200 day moving average price is $203.54.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share (EPS) 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 company had revenue of $293.51 million during the quarter, compared to the consensus estimate of $286.40 million. During the same period in the previous year, the business earned $0.26 EPS. Guidewire Software's revenue for the quarter was up 22.0% on a year-over-year basis. On average, research analysts anticipate that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Insider Buying and Selling

In other news, President John P. Mullen sold 3,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $235.05, for a total value of $705,150.00. Following the completion of the transaction, the president directly owned 146,489 shares of the company's stock, valued at $34,432,239.45. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael George Rosenbaum sold 1,400 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $256.50, for a total transaction of $359,100.00. Following the transaction, the chief executive officer directly owned 245,993 shares in the company, valued at $63,097,204.50. The trade was a 0.57% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,860 shares of company stock valued at $4,214,136. Company insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. JMP Securities increased their target price on shares of Guidewire Software from $250.00 to $281.00 and gave the stock a "market outperform" rating in a report on Wednesday, June 4th. Citigroup raised their target price on shares of Guidewire Software from $199.00 to $247.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $290.00 price objective on shares of Guidewire Software in a report on Monday, June 23rd. Stifel Nicolaus increased their target price on Guidewire Software from $230.00 to $270.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Finally, Oppenheimer boosted their price target on Guidewire Software from $230.00 to $275.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. One 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $248.31.

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.