Hsbc Holdings PLC Sells 13,847 Shares of Guidewire Software, Inc. $GWRE

Key Points

• Hsbc Holdings PLC reduced its stake in Guidewire Software, Inc. by 60.4%, now holding 9,094 shares valued at approximately $1.69 million.
• Guidewire's latest earnings report beat expectations, with earnings per share of $0.88 and revenue of $293.51 million, a 22% year-over-year increase.
• Analysts have raised their price targets for Guidewire Software, with Oppenheimer's target increasing from $230 to $275, reflecting a generally positive outlook on the stock.

Hsbc Holdings PLC reduced its position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 60.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,094 shares of the technology company's stock after selling 13,847 shares during the quarter. Hsbc Holdings PLC's holdings in Guidewire Software were worth $1,690,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of GWRE. Portside Wealth Group LLC boosted 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 valued at $510,000 after acquiring an additional 1,626 shares during the last quarter. Empower Advisory Group LLC bought a new position in shares of Guidewire Software in the 1st quarter worth about $692,000. Praxis Investment Management Inc. bought a new position in shares of Guidewire Software in the 1st quarter worth about $347,000. Principal Financial Group Inc. raised its position in shares of Guidewire Software by 3,320.4% in the 1st quarter. Principal Financial Group Inc. now owns 192,843 shares of the technology company's stock worth $36,131,000 after acquiring an additional 187,205 shares in the last quarter. Finally, OMNI 360 Wealth Inc. bought a new position in shares of Guidewire Software in the 1st quarter worth about $211,000.

Guidewire Software Stock Down 0.6%

Shares of NYSE GWRE traded down $1.34 during mid-day trading on Friday, reaching $217.37. 558,312 shares of the company's stock traded hands, compared to its average volume of 587,566. The stock has a market cap of $18.30 billion, a P/E ratio of 543.42, a PEG ratio of 15.30 and a beta of 1.22. The business has a 50-day simple moving average of $222.53 and a 200 day simple moving average of $211.55. Guidewire Software, Inc. has a 1-year low of $142.94 and a 1-year high of $263.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.23 and a quick ratio of 3.23.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.41. The firm had revenue of $293.51 million during the quarter, compared to analysts' expectations of $286.40 million. Guidewire Software had a net margin of 3.04% and a return on equity of 6.96%. The business's revenue was up 22.0% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. Guidewire Software has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity

In related news, President John P. Mullen sold 3,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $235.05, for a total transaction of $705,150.00. Following the transaction, the president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $256.50, for a total transaction of $359,100.00. Following the transaction, the chief executive officer directly owned 245,993 shares in the company, valued at $63,097,204.50. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,541 shares of company stock worth $6,037,939 over the last three months. 0.48% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Guidewire Software from $271.00 to $288.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Stifel Nicolaus lifted their price objective on Guidewire Software from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Robert W. Baird lifted their price objective on Guidewire Software from $265.00 to $270.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. The Goldman Sachs Group raised their price target on shares of Guidewire Software from $235.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, DA Davidson restated a "neutral" rating and issued a $226.00 price target on shares of Guidewire Software in a report on Wednesday, June 4th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Guidewire Software presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.08.

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.