Guidewire Software, Inc. $GWRE is Anabranch Capital Management LP's 5th Largest Position

Key Points

• Anabranch Capital Management LP sharply increased its stake in Guidewire Software by 276.7% in the fourth quarter, making GWRE its 5th largest position and 16.8% of its portfolio.
• Guidewire reported better-than-expected quarterly results, with EPS of $0.82 versus $0.74 expected and revenue of $372.54 million, up 26.9% year over year.
• Despite the strong results, insiders sold shares in June, and several analysts trimmed price targets, though the stock still carries a consensus Moderate Buy rating with an average target of $229.

Anabranch Capital Management LP increased its stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 276.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,645 shares of the technology company's stock after purchasing an additional 91,552 shares during the quarter. Guidewire Software accounts for 16.8% of Anabranch Capital Management LP's investment portfolio, making the stock its 5th largest position. Anabranch Capital Management LP owned approximately 0.15% of Guidewire Software worth $25,055,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Advisors Asset Management Inc. purchased a new position in shares of Guidewire Software in the 1st quarter valued at about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Guidewire Software in the 3rd quarter valued at about $29,000. Flagship Harbor Advisors LLC acquired a new stake in Guidewire Software in the 4th quarter valued at about $36,000. Harbour Investments Inc. grew its stake in Guidewire Software by 83.0% in the 4th quarter. Harbour Investments Inc. now owns 247 shares of the technology company's stock valued at $50,000 after acquiring an additional 112 shares during the last quarter. Finally, Clearstead Advisors LLC grew its stake in Guidewire Software by 82.4% in the 3rd quarter. Clearstead Advisors LLC now owns 270 shares of the technology company's stock valued at $62,000 after acquiring an additional 122 shares during the last quarter.

Guidewire Software Price Performance

Guidewire Software stock opened at $117.50 on Wednesday. Guidewire Software, Inc. has a 12-month low of $113.67 and a 12-month high of $272.60. The stock has a market capitalization of $9.78 billion, a P/E ratio of 63.51 and a beta of 0.93. The firm's 50-day moving average is $136.21 and its two-hundred day moving average is $155.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its quarterly 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 company had revenue of $372.54 million for the quarter, compared to analysts' expectations of $355.92 million. During the same period last year, the company earned $0.88 EPS. The firm's revenue for the quarter was up 26.9% compared to the same quarter last year. Equities analysts predict that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

Insider Activity at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,830 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total transaction of $692,254.20. Following the sale, the chief executive officer directly owned 199,776 shares of the company's stock, valued at $23,721,402.24. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Also, President John P. Mullen sold 4,292 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $509,632.08. Following the sale, the president directly owned 131,115 shares in the company, valued at $15,568,595.10. This represents a 3.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,361 shares of company stock worth $3,657,757 over the last three months. Company insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GWRE. The Goldman Sachs Group lowered their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, June 5th. Weiss Ratings reissued a "hold (c)" rating on shares of Guidewire Software in a research note on Wednesday, June 3rd. Stifel Nicolaus lowered their price objective on shares of Guidewire Software from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, June 5th. Citizens Jmp lowered their price objective on shares of Guidewire Software from $300.00 to $220.00 and set a "market outperform" rating on the stock in a research note on Friday, June 5th. Finally, Royal Bank Of Canada lowered their price objective on shares of Guidewire Software from $250.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, June 5th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $229.00.

About Guidewire Software

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.

Want to see what other hedge funds are holding GWRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Guidewire Software, Inc. (NYSE:GWRE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.