Guidewire Software, Inc. (NYSE:GWRE) Stake Lowered by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its stake in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 34.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,610 shares of the technology company's stock after selling 13,191 shares during the period. Teacher Retirement System of Texas' holdings in Guidewire Software were worth $4,611,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Portside Wealth Group LLC boosted its holdings in Guidewire Software by 148.1% in the first quarter. Portside Wealth Group LLC now owns 2,724 shares of the technology company's stock valued at $510,000 after acquiring an additional 1,626 shares during the last quarter. Praxis Investment Management Inc. acquired a new position in Guidewire Software in the first quarter valued at $347,000. International Assets Investment Management LLC acquired a new position in Guidewire Software in the first quarter valued at $217,000. Sequoia Financial Advisors LLC boosted its holdings in Guidewire Software by 15.6% in the first quarter. Sequoia Financial Advisors LLC now owns 1,762 shares of the technology company's stock valued at $330,000 after acquiring an additional 238 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in Guidewire Software in the first quarter valued at $201,000.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. The Goldman Sachs Group lifted their target price on Guidewire Software from $235.00 to $270.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Stifel Nicolaus raised their price objective on Guidewire Software from $230.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. DA Davidson reissued a "neutral" rating and issued a $226.00 price objective on shares of Guidewire Software in a research report on Wednesday, June 4th. Wall Street Zen raised Guidewire Software from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $290.00 price objective on shares of Guidewire Software in a research report on Monday, June 23rd. One equities research 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 an average rating of "Moderate Buy" and an average target price of $248.31.

Insider Activity at Guidewire Software

In related news, President John P. Mullen sold 3,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was 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 of the company's stock, valued at $34,432,239.45. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $230.70, for a total value of $322,980.00. Following the completion of the sale, the chief executive officer directly owned 234,468 shares of the company's stock, valued at approximately $54,091,767.60. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,860 shares of company stock valued at $4,214,136 over the last three months. 0.48% of the stock is owned by insiders.

Guidewire Software Stock Down 2.6%

Shares of NYSE GWRE traded down $6.10 during midday trading on Thursday, reaching $225.15. 748,926 shares of the company's stock were exchanged, compared to its average volume of 969,198. 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 stock has a market capitalization of $18.96 billion, a PE ratio of 562.88, a price-to-earnings-growth ratio of 20.51 and a beta of 1.16. Guidewire Software, Inc. has a 52-week low of $132.01 and a 52-week high of $263.20. The business's fifty day moving average price is $228.17 and its two-hundred day moving average price is $204.09.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.41. The firm had revenue of $293.51 million during the quarter, compared to analyst estimates of $286.40 million. Guidewire Software had a return on equity of 6.96% and a net margin of 3.04%. Guidewire Software's quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share. Analysts forecast that Guidewire Software, Inc. will post 0.52 EPS for the current year.

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.