Hsbc Holdings PLC Has $407,000 Holdings in Guidewire Software, Inc. $GWRE

Key Points

• HSBC Holdings reduced its Guidewire Software stake by 77.1% in the second quarter, selling 11,170 shares and retaining 3,309 shares valued at approximately $407,000.
• Guidewire reported quarterly EPS of $0.99, beating estimates of $0.93, while revenue rose 15.3% year over year to $411.09 million. Shares opened at $148.72, well below their 12-month high of $255.89.
• Analyst sentiment remains positive, with 12 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $216.23; however, insiders sold 33,132 shares worth $5.58 million over the past three months.

Hsbc Holdings PLC lessened its holdings in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 77.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,309 shares of the technology company's stock after selling 11,170 shares during the period. Hsbc Holdings PLC's holdings in Guidewire Software were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. increased its position in Guidewire Software by 547.3% during the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company's stock worth $176,537,000 after acquiring an additional 997,992 shares during the period. Stephens Investment Management Group LLC grew its position in Guidewire Software by 3.0% during the first quarter. Stephens Investment Management Group LLC now owns 524,818 shares of the technology company's stock worth $78,492,000 after buying an additional 15,260 shares in the last quarter. Geode Capital Management LLC increased its stake in Guidewire Software by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company's stock worth $357,504,000 after acquiring an additional 145,924 shares during the period. Entropy Technologies LP acquired a new position in Guidewire Software in the 4th quarter valued at $5,837,000. Finally, Weiss Asset Management LP acquired a new position in Guidewire Software in the 1st quarter valued at $6,087,000.

Insider Activity

In other news, insider James King sold 1,684 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $130.64, for a total transaction of $219,997.76. Following the completion of the sale, the insider directly owned 30,018 shares in the company, valued at $3,921,551.52. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President John P. Mullen sold 14,400 shares of Guidewire Software stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $185.00, for a total transaction of $2,664,000.00. Following the transaction, the president directly owned 116,715 shares of the company's stock, valued at $21,592,275. This represents a 10.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 33,132 shares of company stock worth $5,584,477. 0.46% of the stock is owned by corporate insiders.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $148.72 on Wednesday. The firm has a market capitalization of $12.38 billion, a price-to-earnings ratio of 91.24 and a beta of 0.97. The company has a current ratio of 1.79, a quick ratio of 2.44 and a debt-to-equity ratio of 0.57. The business's 50-day moving average price is $163.51 and its 200-day moving average price is $147.52. Guidewire Software, Inc. has a 12 month low of $102.30 and a 12 month high of $255.89.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its quarterly earnings data on Thursday, September 3rd. The technology company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.06. The company had revenue of $411.09 million during the quarter, compared to the consensus estimate of $402.61 million. Guidewire Software had a return on equity of 12.66% and a net margin of 9.44%.The firm's revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Equities research analysts forecast that Guidewire Software, Inc. will post 2.46 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on GWRE. Guggenheim increased their target price on Guidewire Software from $180.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Piper Sandler reaffirmed an "overweight" rating and set a $210.00 price objective on shares of Guidewire Software in a research report on Friday, September 4th. Zacks Research downgraded shares of Guidewire Software from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Needham & Company LLC restated a "hold" rating on shares of Guidewire Software in a research note on Friday, September 4th. Finally, Stifel Nicolaus decreased their target price on Guidewire Software from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, June 5th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Guidewire Software has an average rating of "Moderate Buy" and an average price target of $216.23.

Guidewire Software Company Profile

Guidewire Software, Inc NYSE: GWRE provides cloud-based software and technology services for the property and casualty insurance industry. Its solutions help insurers manage core operations, modernize legacy systems, improve customer engagement and use data to support underwriting and claims decisions.

The company's principal platform, InsuranceSuite, includes applications such as PolicyCenter for policy administration, BillingCenter for billing and payments, and ClaimCenter for claims management.

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