Altfest L J & Co. Inc. Reduces Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Key Points

• Altfest L J & Co. Inc. has reduced its stake in Guidewire Software by 29.8%, selling 1,335 shares to own a total of 3,148 shares valued at $590,000.
• Guidewire Software reported earnings of $0.88 EPS for the last quarter, surpassing estimates, and saw revenue grow 22.0% year-over-year.
• Analysts have varying ratings for Guidewire Software, with eleven buy ratings, three hold ratings, and one sell rating, with a consensus price target of $250.92.

Altfest L J & Co. Inc. reduced its stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 29.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,148 shares of the technology company's stock after selling 1,335 shares during the quarter. Altfest L J & Co. Inc.'s holdings in Guidewire Software were worth $590,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. lifted its position in shares of Guidewire Software by 403.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 131 shares of the technology company's stock worth $25,000 after buying an additional 105 shares during the last quarter. Ossiam acquired a new position in shares of Guidewire Software during the fourth quarter worth $29,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Guidewire Software by 70.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company's stock valued at $32,000 after acquiring an additional 70 shares during the last quarter. Dunhill Financial LLC bought a new position in shares of Guidewire Software in the 1st quarter valued at $33,000. Finally, Colonial Trust Co SC boosted its holdings in shares of Guidewire Software by 176.0% during the 4th quarter. Colonial Trust Co SC now owns 287 shares of the technology company's stock valued at $48,000 after acquiring an additional 183 shares in the last quarter.

Insider Transactions at Guidewire Software

In related news, President John P. Mullen sold 3,000 shares of Guidewire Software stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $235.05, for a total transaction of $705,150.00. Following the sale, the president directly owned 146,489 shares in the company, valued at approximately $34,432,239.45. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the firm's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,342 shares of company stock worth $5,572,791 in the last 90 days. Insiders own 0.48% of the company's stock.

Guidewire Software Stock Down 1.8%

Shares of GWRE traded down $3.97 during trading hours on Friday, hitting $213.46. The stock had a trading volume of 485,878 shares, compared to its average volume of 590,065. The firm has a 50 day simple moving average of $232.54 and a 200-day simple moving average of $211.48. Guidewire Software, Inc. has a 1-year low of $142.94 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 firm has a market capitalization of $17.97 billion, a P/E ratio of 533.64, a price-to-earnings-growth ratio of 15.04 and a beta of 1.16.

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

Analysts Set New Price Targets

GWRE has been the subject of several research reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $290.00 target price on shares of Guidewire Software in a research report on Monday, June 23rd. Bank of America raised their price objective on shares of Guidewire Software from $135.00 to $160.00 and gave the company an "underperform" rating in a report on Wednesday, June 4th. Needham & Company LLC reiterated a "hold" rating on shares of Guidewire Software in a research report on Wednesday, June 4th. The Goldman Sachs Group raised their price target on shares of Guidewire Software from $235.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen upgraded shares of Guidewire Software from a "hold" rating to a "buy" rating in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $250.92.

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.