Envestnet Portfolio Solutions Inc. Decreases Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Envestnet Portfolio Solutions Inc. reduced its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 19.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,684 shares of the technology company's stock after selling 1,387 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Guidewire Software were worth $1,065,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Portside Wealth Group LLC raised its stake in shares of Guidewire Software by 148.1% during the 1st quarter. Portside Wealth Group LLC now owns 2,724 shares of the technology company's stock valued at $510,000 after purchasing an additional 1,626 shares during the period. Banco Santander S.A. purchased a new position in shares of Guidewire Software in the 4th quarter worth about $427,000. MGO One Seven LLC purchased a new position in shares of Guidewire Software in the 4th quarter worth about $222,000. Amica Mutual Insurance Co. boosted its holdings in shares of Guidewire Software by 118.8% in the 4th quarter. Amica Mutual Insurance Co. now owns 7,064 shares of the technology company's stock worth $1,191,000 after purchasing an additional 3,835 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Guidewire Software by 21.8% in the 4th quarter. Truist Financial Corp now owns 9,645 shares of the technology company's stock valued at $1,626,000 after acquiring an additional 1,724 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GWRE. Royal Bank Of Canada reissued an "outperform" rating and issued a $290.00 target price on shares of Guidewire Software in a research note on Monday. The Goldman Sachs Group increased their target price on Guidewire Software from $235.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. DA Davidson restated a "neutral" rating and issued a $226.00 price target on shares of Guidewire Software in a research note on Wednesday, June 4th. Stifel Nicolaus upped their price target on Guidewire Software from $230.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, Raymond James Financial increased their target price on Guidewire Software from $225.00 to $255.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $248.31.

Guidewire Software Stock Down 0.7%

NYSE:GWRE traded down $1.62 during trading hours on Wednesday, reaching $235.83. The company's stock had a trading volume of 641,241 shares, compared to its average volume of 956,516. The stock has a 50 day moving average price of $220.49 and a two-hundred day moving average price of $199.66. The company has a market capitalization of $19.85 billion, a P/E ratio of 589.58, a price-to-earnings-growth ratio of 23.32 and a beta of 1.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.23 and a current ratio of 3.23. Guidewire Software, Inc. has a 12 month low of $132.01 and a 12 month high of $263.20.

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

Insider Buying and Selling at Guidewire Software

In related news, President John P. Mullen sold 2,300 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $187.95, for a total transaction of $432,285.00. Following the completion of the transaction, the president now owns 164,030 shares in the company, valued at $30,829,438.50. This represents a 1.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael George Rosenbaum sold 1,400 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $184.41, for a total transaction of $258,174.00. Following the completion of the transaction, the chief executive officer now directly owns 259,993 shares in the company, valued at $47,945,309.13. This trade represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,160 shares of company stock valued at $3,779,767. 0.48% of the stock is owned by insiders.

About Guidewire Software

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.