Dimensional Fund Advisors LP Decreases Stock Holdings in Guidewire Software, Inc. $GWRE

Key Points

• Dimensional Fund Advisors reduced its Guidewire Software stake by 5.6% in the first quarter, selling 19,842 shares and retaining 334,635 shares worth approximately $50.0 million.
• Guidewire reported quarterly revenue of $372.5 million, up 26.9% year over year, while adjusted earnings of $0.82 per share exceeded analysts’ $0.74 estimate.
• Despite recent insider selling and a share price of $152.06, analysts maintain a “Moderate Buy” consensus rating with an average price target of $221.

Dimensional Fund Advisors LP reduced its position in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 5.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 334,635 shares of the technology company's stock after selling 19,842 shares during the quarter. Dimensional Fund Advisors LP owned about 0.40% of Guidewire Software worth $50,035,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Advisors Asset Management Inc. bought a new stake in Guidewire Software in the first quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new position in Guidewire Software during the third quarter valued at $29,000. Flagship Harbor Advisors LLC bought a new position in Guidewire Software during the fourth quarter valued at $36,000. Leonteq Securities AG purchased a new position in shares of Guidewire Software in the 1st quarter worth $36,000. Finally, Bogart Wealth LLC grew its stake in shares of Guidewire Software by 127.8% in the 1st quarter. Bogart Wealth LLC now owns 246 shares of the technology company's stock worth $37,000 after buying an additional 138 shares in the last quarter.

Insider Buying and Selling

In other Guidewire Software news, insider James Winston King sold 1,684 shares of the business's stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $130.64, for a total transaction of $219,997.76. Following the completion of the transaction, the insider owned 30,018 shares in the company, valued at $3,921,551.52. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO David Franklin Peterson sold 246 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $29,210.04. Following the transaction, the chief accounting officer directly owned 12,287 shares in the company, valued at approximately $1,458,958.38. This represents a 1.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,993 shares of company stock worth $3,627,630 over the last three months. 0.46% of the stock is currently owned by company insiders.

Guidewire Software Trading Up 0.1%

Shares of GWRE opened at $152.06 on Monday. Guidewire Software, Inc. has a twelve month low of $102.30 and a twelve month high of $272.60. The company has a market cap of $12.66 billion, a P/E ratio of 82.20 and a beta of 0.92. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51. The company's fifty day simple moving average is $134.64 and its 200-day simple moving average is $140.38.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The firm had revenue of $372.54 million during the quarter, compared to analyst estimates of $355.92 million. During the same quarter last year, the business earned $0.88 EPS. The business's revenue was up 26.9% on a year-over-year basis. As a group, analysts expect that Guidewire Software, Inc. will post 1.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GWRE shares. Weiss Ratings restated a "hold (c)" rating on shares of Guidewire Software in a report on Wednesday, June 3rd. The Goldman Sachs Group lowered their price target on shares of Guidewire Software from $255.00 to $225.00 and set a "buy" rating for the company in a report on Friday, June 5th. Oppenheimer dropped their price target on Guidewire Software from $250.00 to $180.00 and set an "outperform" rating for the company in a research report on Monday, May 18th. DA Davidson reduced their price objective on Guidewire Software from $246.00 to $222.00 and set a "buy" rating on the stock in a research note on Monday, June 8th. Finally, Guggenheim initiated coverage on Guidewire Software in a research report on Thursday, July 23rd. They set a "buy" rating and a $180.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Guidewire Software currently has an average rating of "Moderate Buy" and a consensus price target of $221.00.

Guidewire Software Profile

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company's offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire's core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.

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