Guidewire Software, Inc. (NYSE:GWRE) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 13.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 430,646 shares of the technology company's stock after selling 65,295 shares during the period. New York State Common Retirement Fund owned approximately 0.51% of Guidewire Software worth $80,686,000 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 company. Ossiam purchased a new position in Guidewire Software in the fourth quarter worth $29,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Guidewire Software by 70.0% during the 1st 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 period. Dunhill Financial LLC purchased a new position in shares of Guidewire Software in the 1st quarter valued at about $33,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Guidewire Software by 101.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company's stock valued at $34,000 after purchasing an additional 99 shares during the period. Finally, Colonial Trust Co SC lifted its stake in shares of Guidewire Software by 176.0% in the fourth quarter. Colonial Trust Co SC now owns 287 shares of the technology company's stock valued at $48,000 after purchasing an additional 183 shares during the period.

Guidewire Software Price Performance

GWRE stock traded up $2.14 during trading on Monday, hitting $222.29. The stock had a trading volume of 669,937 shares, compared to its average volume of 1,042,667. The stock has a market cap of $18.72 billion, a price-to-earnings ratio of 555.74, a price-to-earnings-growth ratio of 19.52 and a beta of 1.16. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.23 and a current ratio of 3.23. The company's 50 day moving average price is $228.37 and its two-hundred day moving average price is $204.81. Guidewire Software, Inc. has a 1-year low of $132.01 and a 1-year high of $263.20.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $286.40 million. During the same quarter in the previous year, the business posted $0.26 earnings per share. The company's revenue was up 22.0% on a year-over-year basis. On average, sell-side analysts forecast that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GWRE has been the topic of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Guidewire Software from $220.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Wall Street Zen upgraded Guidewire Software from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Oppenheimer lifted their price objective on Guidewire Software from $230.00 to $275.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Royal Bank Of Canada reiterated an "outperform" rating and set a $290.00 target price on shares of Guidewire Software in a research report on Monday, June 23rd. Finally, Stifel Nicolaus raised their price target on Guidewire Software from $230.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $248.31.

Insider Buying and Selling at Guidewire Software

In related news, President John P. Mullen sold 3,000 shares of the business's 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 completion of the sale, the president directly owned 146,489 shares in the company, valued at approximately $34,432,239.45. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $256.50, for a total transaction of $359,100.00. Following the transaction, the chief executive officer directly owned 245,993 shares in the company, valued at approximately $63,097,204.50. This represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,460 shares of company stock valued at $3,941,276 over the last quarter. Insiders own 0.48% of the company's stock.

Guidewire Software 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.