Guidewire Software, Inc. (NYSE:GWRE) Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. reduced its stake in Guidewire Software by 80.4% in the first quarter, leaving it with approximately 1.75% ownership, valued at $275.22 million.
• Guidewire Software reported earnings of $0.88 per share, surpassing estimates of $0.47, alongside a 22.0% year-over-year revenue increase to $293.51 million.
• Several hedge funds have increased their investments in Guidewire Software, notably Massachusetts Financial Services, which grew its stake by 16.2%, now owning 5.16 million shares worth $966.25 million.

JPMorgan Chase & Co. cut its holdings in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 80.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,468,944 shares of the technology company's stock after selling 6,022,497 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.75% of Guidewire Software worth $275,222,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. SBI Securities Co. Ltd. lifted its stake in shares of Guidewire Software by 403.8% during the first quarter. SBI Securities Co. Ltd. now owns 131 shares of the technology company's stock valued at $25,000 after buying an additional 105 shares during the period. Ossiam purchased a new position in shares of Guidewire Software during the fourth quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Guidewire Software by 70.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company's stock valued at $32,000 after buying an additional 70 shares during the period. Dunhill Financial LLC purchased a new position in shares of Guidewire Software during the first quarter valued at approximately $33,000. Finally, Colonial Trust Co SC lifted its stake in shares of Guidewire Software by 176.0% during the fourth quarter. Colonial Trust Co SC now owns 287 shares of the technology company's stock valued at $48,000 after buying an additional 183 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GWRE shares. Citigroup increased their price target on shares of Guidewire Software from $199.00 to $247.00 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. JMP Securities increased their price target on shares of Guidewire Software from $250.00 to $281.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 4th. Robert W. Baird increased their price target on shares of Guidewire Software from $265.00 to $270.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. The Goldman Sachs Group increased their price target on shares of Guidewire Software from $235.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, Oppenheimer increased their price target on shares of Guidewire Software from $230.00 to $275.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Guidewire Software presently has a consensus rating of "Moderate Buy" and an average target price of $250.92.

Guidewire Software Stock Up 1.3%

GWRE traded up $2.75 during trading hours on Friday, reaching $211.64. 666,784 shares of the stock traded hands, compared to its average volume of 594,280. The firm's fifty day simple moving average is $229.51 and its two-hundred day simple moving average is $211.60. The company has a market cap of $17.82 billion, a price-to-earnings ratio of 529.10, a PEG ratio of 14.91 and a beta of 1.16. Guidewire Software, Inc. has a fifty-two week low of $142.94 and a fifty-two week 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 released its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.41. The business had revenue of $293.51 million during the quarter, compared to analyst estimates 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 business earned $0.26 EPS. As a group, analysts forecast that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Activity at Guidewire Software

In related news, insider James Winston King sold 2,482 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $220.65, for a total transaction of $547,653.30. Following the completion of the sale, the insider directly owned 37,441 shares of the company's stock, valued at approximately $8,261,356.65. This trade represents a 6.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $212.44, for a total transaction of $297,416.00. Following the sale, the chief executive officer directly owned 227,468 shares of the company's stock, valued at approximately $48,323,301.92. The trade was a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,742 shares of company stock valued at $5,870,207. Corporate insiders own 0.48% of the company's stock.

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.