Guidewire Software, Inc. $GWRE Shares Sold by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC trimmed its stake in Guidewire Software by 7.8% in the first quarter, selling 19,363 shares and ending with 229,512 shares valued at about $34.3 million.
• Guidewire posted better-than-expected quarterly results, reporting EPS of $0.82 versus $0.74 expected and revenue of $372.5 million, up 26.9% year over year.
• Analysts remain generally positive but have lowered price targets recently; the stock still carries a consensus “Moderate Buy” rating with a $229 average target price.

Riverbridge Partners LLC lowered its position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 229,512 shares of the technology company's stock after selling 19,363 shares during the period. Riverbridge Partners LLC owned approximately 0.27% of Guidewire Software worth $34,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new stake in Guidewire Software during the third quarter worth about $29,000. Advisors Asset Management Inc. acquired a new stake in shares of Guidewire Software during the 1st quarter worth approximately $25,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Guidewire Software during the 4th quarter worth approximately $36,000. Harbour Investments Inc. increased its holdings in shares of Guidewire Software by 83.0% during the 4th quarter. Harbour Investments Inc. now owns 247 shares of the technology company's stock valued at $50,000 after purchasing an additional 112 shares in the last quarter. Finally, Clearstead Advisors LLC increased its holdings in shares of Guidewire Software by 82.4% during the 3rd quarter. Clearstead Advisors LLC now owns 270 shares of the technology company's stock valued at $62,000 after purchasing an additional 122 shares in the last quarter.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $109.45 on Wednesday. Guidewire Software, Inc. has a 12 month low of $102.30 and a 12 month high of $272.60. The company has a market cap of $9.11 billion, a P/E ratio of 59.16 and a beta of 0.93. 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 firm has a fifty day moving average price of $133.51 and a 200 day moving average price of $152.22.

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

Analysts Set New Price Targets

GWRE has been the subject of a number of analyst reports. Royal Bank Of Canada decreased their price objective on shares of Guidewire Software from $250.00 to $215.00 and set an "outperform" rating for the company in a research report on Friday, June 5th. Wells Fargo & Company decreased their price objective on Guidewire Software from $210.00 to $190.00 and set an "overweight" rating on the stock in a report on Friday, June 5th. Zacks Research cut Guidewire Software from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Oppenheimer decreased their target price on shares of Guidewire Software from $250.00 to $180.00 and set an "outperform" rating on the stock in a report on Monday, May 18th. Finally, The Goldman Sachs Group decreased their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a "buy" rating on the stock in a report on Friday, June 5th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $229.00.

Insider Buying and Selling at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 1,348 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $105.67, for a total transaction of $142,443.16. Following the transaction, the chief financial officer owned 62,119 shares of the company's stock, valued at $6,564,114.73. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President John P. Mullen sold 4,292 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $509,632.08. Following the sale, the president directly owned 131,115 shares of the company's stock, valued at $15,568,595.10. The trade was 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. In the last ninety days, insiders have sold 29,709 shares of company stock valued at $3,740,332. Corporate insiders own 0.46% of the company's stock.

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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