Commerce Bank Sells 2,651 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Key Points

• Commerce Bank reduced its holdings in Guidewire Software, Inc. by 11.6%, owning 20,194 shares worth approximately $3.78 million after selling 2,651 shares.
• Analysts maintain a consensus target price of $250.92 for Guidewire Software, with ratings ranging from 'sell' to 'buy', indicating a generally positive outlook.
• CEO Michael George Rosenbaum sold 1,400 shares at an average price of $256.50, resulting in a decrease of 0.57% in their ownership stake.

Commerce Bank cut its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,194 shares of the technology company's stock after selling 2,651 shares during the period. Commerce Bank's holdings in Guidewire Software were worth $3,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Portside Wealth Group LLC increased its position in Guidewire Software by 148.1% during the first quarter. Portside Wealth Group LLC now owns 2,724 shares of the technology company's stock worth $510,000 after buying an additional 1,626 shares during the last quarter. Praxis Investment Management Inc. acquired a new position in shares of Guidewire Software in the first quarter valued at approximately $347,000. Principal Financial Group Inc. grew its position in shares of Guidewire Software by 3,320.4% in the first quarter. Principal Financial Group Inc. now owns 192,843 shares of the technology company's stock valued at $36,131,000 after purchasing an additional 187,205 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new stake in Guidewire Software during the first quarter worth approximately $211,000. Finally, International Assets Investment Management LLC acquired a new stake in Guidewire Software during the first quarter worth approximately $217,000.

Analysts Set New Price Targets

A number of brokerages have weighed in on GWRE. Wells Fargo & Company raised their target price on Guidewire Software from $220.00 to $265.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. JMP Securities raised their target price on Guidewire Software from $250.00 to $281.00 and gave the stock a "market outperform" 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 report on Wednesday, June 4th. Stifel Nicolaus boosted their target price on Guidewire Software from $230.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Citigroup boosted their price objective on Guidewire Software from $199.00 to $247.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. One research 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $250.92.

Guidewire Software Price Performance

Guidewire Software stock traded down $2.83 during midday trading on Tuesday, hitting $223.36. The company's stock had a trading volume of 405,767 shares, compared to its average volume of 612,495. The stock's 50-day moving average price is $231.82 and its 200-day moving average price is $210.61. 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 company has a market capitalization of $18.80 billion, a PE ratio of 558.41, a price-to-earnings-growth ratio of 15.95 and a beta of 1.16. Guidewire Software, Inc. has a 12 month low of $139.45 and a 12 month high of $263.20.

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

Insiders Place Their Bets

In other news, President John P. Mullen sold 3,000 shares of Guidewire Software stock in a transaction that occurred 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 completion of the transaction, the president directly owned 146,489 shares in the company, valued at approximately $34,432,239.45. The trade was a 2.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James Winston King sold 2,482 shares of the business's 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 sale, the insider owned 37,441 shares of the company's stock, valued at $8,261,356.65. This trade represents a 6.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,342 shares of company stock worth $5,572,791. Insiders own 0.48% of the company's stock.

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.