KBC Group NV Sells 17,852 Shares of Guidewire Software, Inc. (NYSE:GWRE)

KBC Group NV cut its stake in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 84.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,351 shares of the technology company's stock after selling 17,852 shares during the period. KBC Group NV's holdings in Guidewire Software were worth $628,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GWRE. Ossiam bought a new stake in shares of Guidewire Software during the fourth quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB increased its position 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 bought a new stake in shares of Guidewire Software during the first quarter valued at about $33,000. Cullen Frost Bankers Inc. bought a new stake in shares of Guidewire Software during the fourth quarter valued at about $34,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Guidewire Software by 101.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company's stock valued at $34,000 after buying an additional 99 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GWRE shares. JMP Securities upped their price target on Guidewire Software from $250.00 to $281.00 and gave the company a "market outperform" rating in a research report on Wednesday, June 4th. Wall Street Zen upgraded shares of Guidewire Software from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Stifel Nicolaus upped 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. The Goldman Sachs Group upped their price objective on shares of Guidewire Software from $235.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Oppenheimer upped their price objective on shares of Guidewire Software from $230.00 to $275.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $248.31.

Insider Activity

In other news, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $236.89, for a total transaction of $331,646.00. Following the completion of the sale, the chief executive officer owned 235,868 shares of the company's stock, valued at approximately $55,874,770.52. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President John P. Mullen sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $235.05, for a total value of $705,150.00. Following the sale, the president directly owned 146,489 shares of the company's stock, valued at approximately $34,432,239.45. This trade represents a 2.01% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,860 shares of company stock valued at $4,126,104. 0.48% of the stock is currently owned by company insiders.

Guidewire Software Stock Up 1.2%

Shares of NYSE GWRE opened at $230.38 on Friday. Guidewire Software, Inc. has a one year low of $132.01 and a one year 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. The firm's 50 day simple moving average is $226.05 and its two-hundred day simple moving average is $202.54. The stock has a market capitalization of $19.40 billion, a P/E ratio of 575.95, a PEG ratio of 20.43 and a beta of 1.16.

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

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.

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