Guidewire Software, Inc. $GWRE Stock Sold by Conestoga Capital Advisors LLC

Key Points

• Conestoga Capital Advisors cut its Guidewire stake by 12% in the third quarter, selling 26,910 shares and retaining 197,462 shares valued at about $28.2 million.
• Guidewire’s latest reported quarter beat expectations, with EPS of $0.99 versus $0.93 forecast and revenue of $411.1 million, up 15.3% year over year.
• Insiders sold 209,135 shares worth about $31.8 million over the past three months. Analysts’ consensus rating was “Moderate Buy,” with a $216.23 average price target.

Conestoga Capital Advisors LLC lowered its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 12.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,462 shares of the technology company's stock after selling 26,910 shares during the period. Conestoga Capital Advisors LLC owned about 0.24% of Guidewire Software worth $28,154,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bamco Inc. NY bought a new position in shares of Guidewire Software during the 2nd quarter worth about $1,106,768,000. Linonia Partnership LP bought a new stake in Guidewire Software in the second quarter valued at about $853,165,000. Route One Investment Company L.P. bought a new stake in Guidewire Software in the second quarter valued at about $227,564,000. Van ECK Associates Corp bought a new stake in Guidewire Software in the second quarter valued at about $149,611,000. Finally, Principal Financial Group Inc. raised its position in Guidewire Software by 547.3% in the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company's stock worth $176,537,000 after purchasing an additional 997,992 shares in the last quarter.

Insider Buying and Selling at Guidewire Software

In other news, CEO Michael Rosenbaum sold 1,200 shares of the firm's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $160.16, for a total value of $192,192.00. Following the completion of the transaction, the chief executive officer owned 272,466 shares in the company, valued at $43,638,154.56. This trade represents a 0.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President John P. Mullen sold 1,800 shares of Guidewire Software stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $187.19, for a total value of $336,942.00. Following the completion of the sale, the president directly owned 176,447 shares in the company, valued at approximately $33,029,113.93. This represents a 1.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 209,135 shares of company stock worth $31,776,209. Insiders own 0.46% of the company's stock.

Guidewire Software Trading Up 5.9%

NYSE GWRE opened at $170.51 on Thursday. The stock has a market capitalization of $14.09 billion, a price-to-earnings ratio of 104.61 and a beta of 1.01. The stock's 50 day moving average price is $165.49 and its two-hundred day moving average price is $149.23. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.79 and a current ratio of 1.79. Guidewire Software, Inc. has a 52 week low of $102.30 and a 52 week high of $229.85.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its quarterly earnings results on Thursday, September 3rd. The technology company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.06. Guidewire Software had a return on equity of 12.66% and a net margin of 9.44%. The firm had revenue of $411.09 million during the quarter, compared to the consensus estimate of $402.61 million. During the same quarter in the prior year, the firm posted $0.84 EPS. The business's revenue was up 15.3% on a year-over-year basis. As a group, analysts anticipate that Guidewire Software, Inc. will post 2.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GWRE. Citizens Jmp restated a "market outperform" rating and issued a $220.00 target price on shares of Guidewire Software in a research note on Friday, September 4th. Citigroup lifted their price objective on Guidewire Software from $137.00 to $181.00 and gave the stock a "neutral" rating in a research note on Friday, September 4th. Piper Sandler restated an "overweight" rating and set a $210.00 target price on shares of Guidewire Software in a report on Friday, September 4th. Weiss Ratings restated a "hold (c)" rating on shares of Guidewire Software in a research report on Monday, August 31st. Finally, Guggenheim increased their price target on shares of Guidewire Software from $180.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $216.23.

Guidewire Software Company Profile

Guidewire Software, Inc provides cloud-based software designed for the property and casualty insurance industry. Its platform helps insurers manage core operations, including policy administration, billing, claims management, underwriting, and digital customer engagement.

The company's principal offerings include InsuranceSuite, which incorporates PolicyCenter, BillingCenter, and ClaimCenter, as well as products for insurance data management, analytics, digital experiences, and application development.

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.