LPL Financial LLC Has $6.59 Million Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Key Points

• LPL Financial LLC has reduced its stake in Guidewire Software by 30.7%, selling 15,558 shares and retaining a total of 35,146 shares valued at approximately $6.58 million.
• Guidewire's quarterly earnings showed a significant increase, reporting $0.88 earnings per share, surpassing analyst estimates and reflecting a 22.0% year-over-year revenue growth.
• Insider trading activity included sales by both the President and CEO, with the President selling 3,000 shares and the CEO selling 1,400 shares, resulting in slight decreases in their ownership stakes.

LPL Financial LLC lowered its stake in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 30.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,146 shares of the technology company's stock after selling 15,558 shares during the quarter. LPL Financial LLC's holdings in Guidewire Software were worth $6,585,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. ANB Bank grew its position in Guidewire Software by 3.5% during the first quarter. ANB Bank now owns 1,590 shares of the technology company's stock worth $298,000 after buying an additional 54 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Guidewire Software by 70.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company's stock worth $32,000 after purchasing an additional 70 shares during the last quarter. Fifth Third Bancorp lifted its stake in Guidewire Software by 16.4% during the first quarter. Fifth Third Bancorp now owns 569 shares of the technology company's stock worth $107,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC lifted its stake in Guidewire Software by 14.4% during the fourth quarter. True Wealth Design LLC now owns 677 shares of the technology company's stock worth $114,000 after purchasing an additional 85 shares during the last quarter. Finally, Nebula Research & Development LLC lifted its stake in Guidewire Software by 8.5% during the fourth quarter. Nebula Research & Development LLC now owns 1,274 shares of the technology company's stock worth $215,000 after purchasing an additional 100 shares during the last quarter.

Insider Transactions at Guidewire Software

In other news, President John P. Mullen sold 3,000 shares of Guidewire Software stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $235.05, for a total value of $705,150.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of Guidewire Software stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $256.50, for a total value of $359,100.00. Following the completion of the transaction, the chief executive officer directly owned 245,993 shares of the company's stock, valued at approximately $63,097,204.50. This trade represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,742 shares of company stock valued at $5,870,207. Corporate insiders own 0.48% of the company's stock.

Guidewire Software Trading Up 1.3%

NYSE:GWRE traded up $2.75 during trading hours on Friday, hitting $211.64. 666,784 shares of the company were exchanged, compared to its average volume of 594,280. The stock has a market capitalization of $17.82 billion, a price-to-earnings ratio of 529.10, a price-to-earnings-growth ratio of 14.91 and a beta of 1.16. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.49. Guidewire Software, Inc. has a one year low of $142.94 and a one year high of $263.20. The company has a fifty day simple moving average of $229.51 and a 200 day simple moving average of $211.60.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 6.96% and a net margin of 3.04%. Guidewire Software's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the company earned $0.26 EPS. Sell-side analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. DA Davidson restated a "neutral" rating and set a $226.00 target price on shares of Guidewire Software in a research note on Wednesday, June 4th. Raymond James Financial raised their price objective on Guidewire Software from $225.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. The Goldman Sachs Group raised their price objective on Guidewire Software from $235.00 to $270.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Needham & Company LLC reissued a "hold" rating on shares of Guidewire Software in a report on Wednesday, June 4th. Finally, Bank of America raised their price objective on Guidewire Software from $135.00 to $160.00 and gave the company an "underperform" rating in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $250.92.

Guidewire Software Company Profile

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.