Strs Ohio Sells 32,003 Shares of Guidewire Software, Inc. $GWRE

Key Points

• Strs Ohio sharply cut its stake in Guidewire Software, selling 32,003 shares in the first quarter and reducing its holdings by 94% to just 2,030 shares worth about $304,000.
• Analysts remain broadly positive on GWRE, with 10 Buy ratings and 3 Hold ratings, giving the stock a consensus rating of “Moderate Buy” and an average price target of $221.36.
• Guidewire beat expectations in its latest quarter, reporting EPS of $0.82 versus the $0.74 estimate and revenue of $372.54 million, up 26.9% year over year. The stock was trading around $136.45, well below its 52-week high of $272.60.

Strs Ohio reduced its holdings in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 94.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,030 shares of the technology company's stock after selling 32,003 shares during the quarter. Strs Ohio's holdings in Guidewire Software were worth $304,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GWRE. Capital World Investors acquired a new position in Guidewire Software in the fourth quarter worth $202,405,000. Alliancebernstein L.P. increased its stake in shares of Guidewire Software by 405.1% in the second quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company's stock valued at $126,743,000 after buying an additional 431,725 shares in the last quarter. Stockbridge Partners LLC raised its holdings in shares of Guidewire Software by 39.0% in the fourth quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company's stock valued at $290,501,000 after buying an additional 405,850 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Guidewire Software by 179.0% in the first quarter. Assenagon Asset Management S.A. now owns 628,759 shares of the technology company's stock valued at $94,037,000 after buying an additional 403,370 shares during the last quarter. Finally, M&T Bank Corp lifted its position in Guidewire Software by 4,507.8% during the 4th quarter. M&T Bank Corp now owns 318,675 shares of the technology company's stock worth $64,057,000 after buying an additional 311,759 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GWRE. Weiss Ratings restated a "hold (c)" rating on shares of Guidewire Software in a research report on Wednesday, June 3rd. Royal Bank Of Canada reduced their target price 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. BTIG Research reissued a "buy" rating and set a $175.00 price target on shares of Guidewire Software in a research note on Thursday, July 2nd. Citizens Jmp lowered their price target on shares of Guidewire Software from $300.00 to $220.00 and set a "market outperform" rating for the company in a report on Friday, June 5th. Finally, DA Davidson dropped their price objective 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. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $221.36.

Insider Transactions at Guidewire Software

In other news, President John P. Mullen sold 4,292 shares of the company's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $509,632.08. Following the completion of the transaction, the president directly owned 131,115 shares of the company's stock, valued at $15,568,595.10. This represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeffrey Elliott Cooper sold 2,594 shares of Guidewire Software stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $308,011.56. Following the completion of the sale, the chief financial officer directly owned 63,467 shares in the company, valued at approximately $7,536,071.58. This represents a 3.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 31,393 shares of company stock valued at $3,936,918 over the last three months. 0.46% of the stock is currently owned by corporate insiders.

Guidewire Software Trading Up 1.0%

NYSE GWRE traded up $1.40 on Friday, reaching $136.45. The company had a trading volume of 1,136,677 shares, compared to its average volume of 1,746,988. The stock has a market cap of $11.36 billion, a price-to-earnings ratio of 73.76 and a beta of 0.95. Guidewire Software, Inc. has a 52 week low of $102.30 and a 52 week high of $272.60. The stock's 50 day moving average is $131.21 and its 200-day moving average is $145.94. 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 (NYSE:GWRE - Get Free Report) last issued its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The firm had revenue of $372.54 million during the quarter, compared to analysts' expectations of $355.92 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. The business's revenue for the quarter was up 26.9% on a year-over-year basis. Equities analysts predict that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

About Guidewire Software

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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