KLP Kapitalforvaltning AS Cuts Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Key Points

• KLP Kapitalforvaltning AS reduced its stake in Guidewire Software by 8.8%, now holding 18,700 shares valued at approximately $3.5 million.
• Guidewire reported a 22% revenue increase year-over-year, reaching $293.51 million, and exceeded earnings estimates with an EPS of $0.88.
• Wall Street analysts have a positive outlook, with a consensus rating of "Moderate Buy" and an average price target of $250.92.

KLP Kapitalforvaltning AS decreased its holdings in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,700 shares of the technology company's stock after selling 1,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Guidewire Software were worth $3,504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Guidewire Software in the 1st quarter valued at approximately $5,645,000. HighPoint Advisor Group LLC boosted its holdings in Guidewire Software by 8.3% in the first quarter. HighPoint Advisor Group LLC now owns 7,226 shares of the technology company's stock valued at $1,481,000 after purchasing an additional 555 shares during the period. Allianz Asset Management GmbH purchased a new position in Guidewire Software in the first quarter valued at $8,849,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Guidewire Software by 1,024.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 26,170 shares of the technology company's stock valued at $4,903,000 after purchasing an additional 23,842 shares during the period. Finally, IFP Advisors Inc boosted its holdings in Guidewire Software by 121.2% in the first quarter. IFP Advisors Inc now owns 1,796 shares of the technology company's stock valued at $336,000 after purchasing an additional 984 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GWRE. JMP Securities lifted their price objective on Guidewire Software from $250.00 to $281.00 and gave the company a "market outperform" rating in a research note on Wednesday, June 4th. Bank of America lifted their price target on shares of Guidewire Software from $135.00 to $160.00 and gave the stock an "underperform" rating in a research note on Wednesday, June 4th. Raymond James Financial lifted their price objective on shares of Guidewire Software from $225.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Stifel Nicolaus lifted their price objective on shares of Guidewire Software from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Guidewire Software from $271.00 to $288.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Guidewire Software has a consensus rating of "Moderate Buy" and an average price target of $250.92.

Guidewire Software Stock Performance

NYSE GWRE traded down $4.42 on Tuesday, reaching $222.79. The stock had a trading volume of 144,063 shares, compared to its average volume of 1,004,186. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.23 and a current ratio of 3.23. Guidewire Software, Inc. has a 12-month low of $132.01 and a 12-month high of $263.20. The business's 50-day moving average price is $230.37 and its 200 day moving average price is $208.85. The stock has a market cap of $18.76 billion, a P/E ratio of 557.19, a price-to-earnings-growth ratio of 19.81 and a beta of 1.16.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.47 by $0.41. Guidewire Software had a net margin of 3.04% and a return on equity of 6.96%. The firm had revenue of $293.51 million during the quarter, compared to the consensus estimate of $286.40 million. During the same quarter in the prior year, the firm earned $0.26 EPS. Guidewire Software's revenue for the quarter was up 22.0% on a year-over-year basis. As a group, equities analysts expect that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Insider Buying and Selling at Guidewire Software

In other news, Director Michael C. Keller sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $237.53, for a total transaction of $237,530.00. Following the completion of the sale, the director owned 10,410 shares in the company, valued at $2,472,687.30. This represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President John P. Mullen sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $235.05, for a total value of $705,150.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 21,342 shares of company stock valued at $4,879,599 over the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

About Guidewire Software

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.