Trust Point Inc. Lowers Stake in Guidewire Software, Inc. (NYSE:GWRE)

Trust Point Inc. decreased its position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 55.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,991 shares of the technology company's stock after selling 4,985 shares during the quarter. Trust Point Inc.'s holdings in Guidewire Software were worth $748,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GWRE. Smartleaf Asset Management LLC lifted its position in Guidewire Software by 10.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 595 shares of the technology company's stock valued at $100,000 after purchasing an additional 56 shares in the last quarter. Norden Group LLC lifted its position in shares of Guidewire Software by 5.2% during the 4th quarter. Norden Group LLC now owns 1,232 shares of the technology company's stock valued at $208,000 after buying an additional 61 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Guidewire Software by 70.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company's stock valued at $32,000 after buying an additional 70 shares in the last quarter. Argonautica Private Wealth Management Inc. grew its stake in shares of Guidewire Software by 1.9% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 4,040 shares of the technology company's stock valued at $681,000 after acquiring an additional 75 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Guidewire Software by 16.4% in the 1st quarter. Fifth Third Bancorp now owns 569 shares of the technology company's stock worth $107,000 after acquiring an additional 80 shares in the last quarter.

Insider Activity at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 1,400 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $195.15, for a total value of $273,210.00. Following the completion of the sale, the chief executive officer now directly owns 261,393 shares in the company, valued at $51,010,843.95. This trade represents a 0.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael C. Keller sold 860 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $254.53, for a total transaction of $218,895.80. Following the completion of the sale, the director now directly owns 11,410 shares in the company, valued at $2,904,187.30. This trade represents a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,160 shares of company stock valued at $3,482,079. Insiders own 0.48% of the company's stock.

Guidewire Software Price Performance

Shares of GWRE stock traded up $1.98 during trading hours on Wednesday, hitting $250.22. The stock had a trading volume of 198,500 shares, compared to its average volume of 1,054,153. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.23 and a quick ratio of 3.23. The stock has a market capitalization of $21.07 billion, a price-to-earnings ratio of 626.40, a PEG ratio of 24.91 and a beta of 1.15. Guidewire Software, Inc. has a one year low of $132.01 and a one year high of $263.20. The stock's 50-day moving average price is $214.56 and its two-hundred day moving average price is $197.95.

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

Analysts Set New Price Targets

Several brokerages have weighed in on GWRE. Citigroup lifted their price target on shares of Guidewire Software from $199.00 to $247.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. JPMorgan Chase & Co. raised their price objective on shares of Guidewire Software from $231.00 to $271.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Guidewire Software in a report on Wednesday, June 4th. DA Davidson reiterated a "neutral" rating and issued a $226.00 price target on shares of Guidewire Software in a research note on Wednesday, June 4th. Finally, Raymond James Financial raised their price target on Guidewire Software from $225.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Guidewire Software presently has an average rating of "Moderate Buy" and a consensus price target of $247.00.

Guidewire Software Company Profile

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.