Segall Bryant & Hamill LLC Has $1.72 Million Position in Guidewire Software, Inc. $GWRE

Key Points

• Segall Bryant & Hamill reduced its Guidewire Software stake by 76% in the first quarter, selling 34,405 shares and retaining 10,841 shares valued at approximately $1.72 million.
• Analysts remain broadly positive, with one Strong Buy, 11 Buy, and three Hold ratings; the stock has a “Moderate Buy” consensus and an average price target of $221.
• Guidewire reported quarterly adjusted earnings of $0.82 per share, beating estimates, while revenue rose 26.9% year over year to $372.54 million. Shares opened at $160.29, up 1.9%.

Segall Bryant & Hamill LLC cut its position in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 76.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,841 shares of the technology company's stock after selling 34,405 shares during the quarter. Segall Bryant & Hamill LLC's holdings in Guidewire Software were worth $1,716,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Measured Wealth Private Client Group LLC bought a new stake in Guidewire Software in the 3rd quarter valued at approximately $29,000. Advisors Asset Management Inc. acquired a new position in Guidewire Software during the 1st quarter worth approximately $25,000. Flagship Harbor Advisors LLC bought a new position in shares of Guidewire Software during the 4th quarter worth approximately $36,000. Leonteq Securities AG bought a new position in shares of Guidewire Software during the 1st quarter worth approximately $36,000. Finally, Bogart Wealth LLC raised its holdings in shares of Guidewire Software by 127.8% in the first quarter. Bogart Wealth LLC now owns 246 shares of the technology company's stock valued at $37,000 after purchasing an additional 138 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have recently commented on GWRE shares. Guggenheim initiated coverage on shares of Guidewire Software in a research report on Thursday, July 23rd. They issued a "buy" rating and a $180.00 price objective on the stock. DA Davidson decreased their target price on shares of Guidewire Software from $246.00 to $222.00 and set a "buy" rating for the company in a research report on Monday, June 8th. JPMorgan Chase & Co. lowered their price target on shares of Guidewire Software from $300.00 to $258.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 14th. Royal Bank Of Canada cut their price target on shares of Guidewire Software from $250.00 to $215.00 and set an "outperform" rating on the stock in a research report on Friday, June 5th. Finally, The Goldman Sachs Group reduced their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Guidewire Software has an average rating of "Moderate Buy" and a consensus price target of $221.00.

Guidewire Software Trading Up 1.9%

Shares of Guidewire Software stock opened at $160.29 on Wednesday. The stock has a market cap of $13.35 billion, a P/E ratio of 86.64 and a beta of 0.92. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. Guidewire Software, Inc. has a 12-month low of $102.30 and a 12-month high of $272.60. The business's 50 day moving average is $135.44 and its 200-day moving average is $140.15.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. The business had revenue of $372.54 million during the quarter, compared to analysts' expectations of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The firm's revenue was up 26.9% on a year-over-year basis. During the same period last year, the business earned $0.88 earnings per share. Equities research analysts predict that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.

Insider Transactions at Guidewire Software

In other news, insider James Winston King sold 1,684 shares of Guidewire Software stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $130.64, for a total value of $219,997.76. Following the completion of the transaction, the insider owned 30,018 shares of the company's stock, valued at $3,921,551.52. This trade represents a 5.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO David Franklin Peterson sold 246 shares of Guidewire Software stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total transaction of $29,210.04. Following the completion of the transaction, the chief accounting officer directly owned 12,287 shares of the company's stock, valued at approximately $1,458,958.38. This trade represents a 1.96% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 30,193 shares of company stock valued at $3,814,734. 0.46% of the stock is owned by company insiders.

Guidewire Software Profile

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company's offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire's core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.

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