Verdence Capital Advisors LLC Sells 1,718 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Verdence Capital Advisors LLC reduced its stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 47.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,912 shares of the technology company's stock after selling 1,718 shares during the quarter. Verdence Capital Advisors LLC's holdings in Guidewire Software were worth $358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Portside Wealth Group LLC increased its stake in shares of Guidewire Software by 148.1% during the 1st quarter. Portside Wealth Group LLC now owns 2,724 shares of the technology company's stock worth $510,000 after purchasing an additional 1,626 shares during the last quarter. Praxis Investment Management Inc. acquired a new position in shares of Guidewire Software during the 1st quarter worth about $347,000. Principal Financial Group Inc. increased its stake in shares of Guidewire Software by 3,320.4% during the 1st quarter. Principal Financial Group Inc. now owns 192,843 shares of the technology company's stock worth $36,131,000 after purchasing an additional 187,205 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new stake in shares of Guidewire Software in the first quarter valued at approximately $211,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Guidewire Software in the first quarter valued at approximately $217,000.

Guidewire Software Price Performance

GWRE opened at $221.79 on Friday. The company has a market capitalization of $18.67 billion, a price-to-earnings ratio of 554.48, a PEG ratio of 19.67 and a beta of 1.16. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $229.25 and a 200-day moving average price of $206.37. Guidewire Software, Inc. has a twelve month low of $132.01 and a twelve month high of $263.20.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its quarterly 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. The business had revenue of $293.51 million during the quarter, compared to analysts' expectations of $286.40 million. Guidewire Software had a net margin of 3.04% and a return on equity of 6.96%. The business's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 EPS. Equities analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Insider Activity

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,400 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $220.65, for a total transaction of $308,910.00. Following the transaction, the chief executive officer owned 233,068 shares in the company, valued at approximately $51,426,454.20. This represents a 0.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President John P. Mullen sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $235.05, for a total transaction of $705,150.00. Following the completion of the transaction, the president owned 146,489 shares in the company, valued at $34,432,239.45. This trade represents a 2.01% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,342 shares of company stock valued at $4,797,839. Company insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GWRE shares. Needham & Company LLC reiterated a "hold" rating on shares of Guidewire Software in a research note on Wednesday, June 4th. Citigroup increased their target price on shares of Guidewire Software from $199.00 to $247.00 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. Stifel Nicolaus increased their target price on shares of Guidewire Software from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Wall Street Zen upgraded shares of Guidewire Software from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, JMP Securities increased their target price on shares of Guidewire Software from $250.00 to $281.00 and gave the stock a "market outperform" rating in a research report on Wednesday, June 4th. One 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 data from MarketBeat, Guidewire Software has an average rating of "Moderate Buy" and a consensus target price of $248.31.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.