Strs Ohio Trims Position in Guidewire Software, Inc. $GWRE

Key Points

• Strs Ohio trimmed its position in Guidewire by 37.0%, selling 19,969 shares and leaving 34,033 shares valued at about $6.84 million at quarter-end.
• Company insiders have been net sellers — including the president's sale of 6,576 shares — with 30,079 shares sold (≈$4.67M) in the last three months and insiders now owning 0.46% of the stock.
• Guidewire posted a quarterly beat (EPS $1.17 vs. $0.77 expected; revenue $359.1M, +24% YoY) and its board approved a $500 million buyback, while analysts hold a consensus "Moderate Buy" with a $249.85 price target.

Strs Ohio trimmed its holdings in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 37.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 34,033 shares of the technology company's stock after selling 19,969 shares during the period. Strs Ohio's holdings in Guidewire Software were worth $6,841,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Measured Wealth Private Client Group LLC purchased a new stake in shares of Guidewire Software in the third quarter valued at about $29,000. Root Financial Partners LLC purchased a new stake in shares of Guidewire Software in the third quarter valued at about $29,000. Advisors Asset Management Inc. purchased a new stake in shares of Guidewire Software in the first quarter valued at about $25,000. Cornerstone Planning Group LLC raised its holdings in shares of Guidewire Software by 620.0% in the third quarter. Cornerstone Planning Group LLC now owns 144 shares of the technology company's stock valued at $34,000 after buying an additional 124 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. purchased a new stake in shares of Guidewire Software in the third quarter valued at about $35,000.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GWRE. Royal Bank Of Canada cut their price target on shares of Guidewire Software from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, March 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Guidewire Software in a report on Thursday, January 22nd. Stifel Nicolaus cut their price target on shares of Guidewire Software from $300.00 to $250.00 and set a "buy" rating for the company in a report on Friday, March 6th. BTIG Research increased their price target on shares of Guidewire Software from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, March 6th. Finally, Wells Fargo & Company cut their price target on shares of Guidewire Software from $250.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $249.85.

Insider Transactions at Guidewire Software

In other Guidewire Software news, President John P. Mullen sold 6,576 shares of Guidewire Software stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $163.86, for a total value of $1,077,543.36. Following the completion of the sale, the president directly owned 135,407 shares of the company's stock, valued at approximately $22,187,791.02. The trade was a 4.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Winston King sold 1,001 shares of Guidewire Software stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $163.86, for a total transaction of $164,023.86. Following the completion of the transaction, the insider owned 32,701 shares in the company, valued at approximately $5,358,385.86. This trade represents a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,079 shares of company stock worth $4,673,186 in the last three months. 0.46% of the stock is currently owned by company insiders.

Guidewire Software Trading Up 1.6%

Shares of GWRE opened at $143.55 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.93 and a quick ratio of 2.93. The firm has a 50 day simple moving average of $145.43 and a 200-day simple moving average of $176.37. Guidewire Software, Inc. has a 1-year low of $115.57 and a 1-year high of $272.60. The stock has a market cap of $12.15 billion, a price-to-earnings ratio of 65.25 and a beta of 0.91.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its quarterly earnings data on Thursday, March 5th. The technology company reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.40. Guidewire Software had a net margin of 14.11% and a return on equity of 13.44%. The business had revenue of $359.10 million during the quarter, compared to analysts' expectations of $342.88 million. During the same period last year, the company posted $0.51 EPS. The company's revenue was up 24.0% on a year-over-year basis. Equities analysts forecast that Guidewire Software, Inc. will post 1.84 EPS for the current fiscal year.

Guidewire Software announced that its Board of Directors has initiated a share buyback program on Thursday, January 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

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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