B. Metzler seel. Sohn & Co. AG Sells 2,174 Shares of Guidewire Software, Inc. $GWRE

Key Points

• B. Metzler seel. Sohn & Co. AG has reduced its stake in Guidewire Software by 15.0%, now holding 12,275 shares worth approximately $2.3 million.
• Guidewire Software reported a quarterly revenue increase of 22.0% year-over-year, with earnings per share of $0.88, exceeding analyst expectations.
• Analysts have been bullish on Guidewire Software, with Goldman Sachs raising its target price to $270.00 and the stock currently holding a Moderate Buy rating.

B. Metzler seel. Sohn & Co. AG decreased its position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 15.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,275 shares of the technology company's stock after selling 2,174 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Guidewire Software were worth $2,300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rafferty Asset Management LLC acquired a new position in shares of Guidewire Software in the first quarter valued at approximately $268,000. Linonia Partnership LP grew its position in shares of Guidewire Software by 41.8% in the first quarter. Linonia Partnership LP now owns 3,396,310 shares of the technology company's stock valued at $636,333,000 after purchasing an additional 1,000,709 shares during the last quarter. Corebridge Financial Inc. grew its position in shares of Guidewire Software by 9,192.8% in the first quarter. Corebridge Financial Inc. now owns 92,649 shares of the technology company's stock valued at $17,359,000 after purchasing an additional 91,652 shares during the last quarter. Comerica Bank grew its position in shares of Guidewire Software by 130.2% in the first quarter. Comerica Bank now owns 54,133 shares of the technology company's stock valued at $10,142,000 after purchasing an additional 30,616 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Guidewire Software by 1,458.4% in the first quarter. MetLife Investment Management LLC now owns 47,969 shares of the technology company's stock valued at $8,987,000 after purchasing an additional 44,891 shares during the last quarter.

Insider Activity

In other news, President John P. Mullen sold 3,000 shares of the 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 in the company, valued at approximately $34,432,239.45. This represents a 2.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Winston King sold 2,482 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $220.65, for a total value of $547,653.30. Following the completion of the transaction, the insider owned 37,441 shares of the company's stock, valued at $8,261,356.65. The trade was a 6.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,541 shares of company stock worth $6,037,939. Insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

GWRE has been the topic of several research reports. Bank of America upped their target price on Guidewire Software from $135.00 to $160.00 and gave the company an "underperform" rating in a research report on Wednesday, June 4th. Raymond James Financial increased their price target on Guidewire Software from $225.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. increased their price target on Guidewire Software from $271.00 to $288.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. DA Davidson reissued a "neutral" rating and set a $226.00 price target on shares of Guidewire Software in a research report on Wednesday, June 4th. Finally, Wall Street Zen raised Guidewire Software from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Guidewire Software has a consensus rating of "Moderate Buy" and a consensus target price of $258.08.

Guidewire Software Price Performance

NYSE GWRE traded down $1.11 on Tuesday, hitting $215.91. 349,788 shares of the company's stock were exchanged, compared to its average volume of 944,929. The stock has a 50-day moving average of $222.11 and a 200-day moving average of $211.59. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.49. Guidewire Software, Inc. has a 52 week low of $142.94 and a 52 week high of $263.20. The stock has a market cap of $18.18 billion, a price-to-earnings ratio of 539.42, a P/E/G ratio of 15.30 and a beta of 1.22.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its earnings results 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. 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 company earned $0.26 earnings per share. The company's quarterly revenue was up 22.0% on a year-over-year basis. Analysts expect that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

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.