TD Asset Management Inc Decreases Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Key Points

• TD Asset Management Inc reduced its stake in Guidewire Software by 11.8%, selling 1,620 shares and holding 12,052 shares worth approximately $2.26 million as of the latest report.
• CEO Michael George Rosenbaum sold 1,400 shares of Guidewire Software at an average price of $220.65, reducing his stake by 0.60%.
• Analysts are optimistic about Guidewire Software, with a consensus rating of "Moderate Buy" and target prices raised by several firms, including Citigroup and JPMorgan, reflecting confidence in the company's growth potential.

TD Asset Management Inc lessened its holdings in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 11.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,052 shares of the technology company's stock after selling 1,620 shares during the period. TD Asset Management Inc's holdings in Guidewire Software were worth $2,258,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of GWRE. Commonwealth Equity Services LLC purchased a new stake in Guidewire Software during the fourth quarter valued at about $223,000. LPL Financial LLC raised its stake in shares of Guidewire Software by 34.9% during the fourth quarter. LPL Financial LLC now owns 50,704 shares of the technology company's stock worth $8,548,000 after acquiring an additional 13,119 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Guidewire Software by 101.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company's stock worth $34,000 after acquiring an additional 99 shares during the last quarter. Norges Bank purchased a new stake in shares of Guidewire Software in the 4th quarter valued at $9,107,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Guidewire Software by 4.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 10,902 shares of the technology company's stock valued at $1,838,000 after purchasing an additional 459 shares during the last quarter.

Guidewire Software Stock Performance

NYSE:GWRE traded up $3.21 during trading hours on Monday, reaching $226.09. The company had a trading volume of 568,199 shares, compared to its average volume of 995,565. The firm's 50 day moving average price is $231.49 and its 200-day moving average price is $210.28. The firm has a market cap of $19.03 billion, a price-to-earnings ratio of 565.23, a PEG ratio of 15.71 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 52 week low of $132.01 and a 52 week high of $263.20.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The technology company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.41. Guidewire Software had a return on equity of 6.96% and a net margin of 3.04%. The company had revenue of $293.51 million for the quarter, compared to analysts' expectations of $286.40 million. During the same period last year, the firm earned $0.26 EPS. Guidewire Software's revenue for the quarter was up 22.0% compared to the same quarter last year. On average, analysts forecast that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Insider Transactions at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $256.50, for a total transaction of $359,100.00. Following the completion of the sale, the chief executive officer directly owned 245,993 shares of the company's stock, valued at $63,097,204.50. This trade represents a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James Winston King sold 2,482 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $220.65, for a total transaction of $547,653.30. Following the completion of the transaction, the insider directly owned 37,441 shares in the company, valued at $8,261,356.65. This trade represents a 6.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,342 shares of company stock valued at $5,572,791 over the last 90 days. Company insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Bank of America upped their price target on shares of Guidewire Software from $135.00 to $160.00 and gave the company an "underperform" rating in a research report on Wednesday, June 4th. Stifel Nicolaus increased their price objective on Guidewire Software from $230.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. DA Davidson reiterated a "neutral" rating and set a $226.00 price target on shares of Guidewire Software 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, Royal Bank Of Canada reissued an "outperform" rating and set a $290.00 price objective on shares of Guidewire Software in a research report on Monday, June 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Guidewire Software has a consensus rating of "Moderate Buy" and a consensus price target of $250.92.

About Guidewire Software

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.