Fred Alger Management LLC Sells 29,211 Shares of Guidewire Software, Inc. $GWRE

Key Points

• Fred Alger Management LLC reduced its stake in Guidewire Software by 8.5%, selling 29,211 shares and holding a total of 314,071 shares valued at approximately $58.8 million.
• Wall Street analysts have increased their target prices for Guidewire Software, with Oppenheimer and Goldman Sachs setting targets at $300 and $305, respectively, reflecting positive sentiment towards the stock.
• Guidewire Software reported better-than-expected quarterly earnings, achieving an EPS of $0.84 against a consensus estimate of $0.62 and a 22.3% year-over-year revenue increase to $356.57 million.

Fred Alger Management LLC reduced its stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 314,071 shares of the technology company's stock after selling 29,211 shares during the quarter. Fred Alger Management LLC owned about 0.37% of Guidewire Software worth $58,844,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Portside Wealth Group LLC raised its holdings in Guidewire Software by 148.1% in the 1st quarter. Portside Wealth Group LLC now owns 2,724 shares of the technology company's stock valued at $510,000 after acquiring an additional 1,626 shares during the period. Empower Advisory Group LLC bought a new position in shares of Guidewire Software during the first quarter worth approximately $692,000. Praxis Investment Management Inc. bought a new position in shares of Guidewire Software during the first quarter worth approximately $347,000. Principal Financial Group Inc. increased its holdings in shares of Guidewire Software by 3,320.4% during the first quarter. Principal Financial Group Inc. now owns 192,843 shares of the technology company's stock worth $36,131,000 after purchasing an additional 187,205 shares during the period. Finally, OMNI 360 Wealth Inc. bought a new position in shares of Guidewire Software during the first quarter worth approximately $211,000.

Insider Buying and Selling

In related news, President John P. Mullen sold 3,000 shares of Guidewire Software stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $235.05, for a total transaction of $705,150.00. Following the completion of the transaction, the president owned 146,489 shares of the company's stock, valued at $34,432,239.45. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael George Rosenbaum sold 1,400 shares of Guidewire Software stock in a transaction on Monday, July 28th. The stock was sold at an average price of $223.75, for a total transaction of $313,250.00. Following the transaction, the chief executive officer directly owned 230,268 shares of the company's stock, valued at $51,522,465. This represents a 0.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,941 shares of company stock valued at $6,987,551 over the last quarter. Insiders own 0.48% of the company's stock.

Guidewire Software Trading Down 0.1%

NYSE GWRE traded down $0.23 during mid-day trading on Friday, reaching $252.96. 431,188 shares of the stock were exchanged, compared to its average volume of 957,780. Guidewire Software, Inc. has a one year low of $165.08 and a one year high of $272.60. The stock has a 50 day simple moving average of $223.55 and a 200-day simple moving average of $213.38. The stock has a market cap of $21.30 billion, a P/E ratio of 316.20, a P/E/G ratio of 16.54 and a beta of 1.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.77 and a quick ratio of 3.23.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its earnings results on Thursday, September 4th. The technology company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.22. Guidewire Software had a net margin of 5.81% and a return on equity of 9.00%. The business had revenue of $356.57 million during the quarter, compared to the consensus estimate of $337.82 million. During the same quarter last year, the firm earned $0.62 earnings per share. Guidewire Software's quarterly revenue was up 22.3% on a year-over-year basis. Guidewire Software has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, analysts anticipate that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Guidewire Software from $270.00 to $305.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Wall Street Zen lowered shares of Guidewire Software from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Needham & Company LLC restated a "hold" rating on shares of Guidewire Software in a research report on Wednesday, June 4th. JMP Securities raised their target price on shares of Guidewire Software from $250.00 to $281.00 and gave the company a "market outperform" rating in a research report on Wednesday, June 4th. Finally, Wells Fargo & Company lifted their price target on shares of Guidewire Software from $265.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $274.08.

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.