Fred Alger Management LLC Lowers Stake in Guidewire Software, Inc. (NYSE:GWRE)

Fred Alger Management LLC reduced its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 30.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 343,282 shares of the technology company's stock after selling 147,476 shares during the quarter. Fred Alger Management LLC owned 0.41% of Guidewire Software worth $57,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Versant Capital Management Inc purchased a new stake in Guidewire Software during the fourth quarter valued at $25,000. Ossiam purchased a new stake in shares of Guidewire Software during the 4th quarter valued at about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake 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 purchasing an additional 99 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of Guidewire Software in the 4th quarter worth approximately $34,000. Finally, R Squared Ltd purchased a new position in shares of Guidewire Software in the fourth quarter worth approximately $47,000.

Guidewire Software Price Performance

GWRE stock traded up $0.21 during midday trading on Friday, hitting $213.63. The company's stock had a trading volume of 483,907 shares, compared to its average volume of 920,113. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53. Guidewire Software, Inc. has a 12 month low of $107.65 and a 12 month high of $219.59. The company has a 50 day moving average of $191.70 and a two-hundred day moving average of $191.70. The firm has a market capitalization of $17.92 billion, a price-to-earnings ratio of 593.42, a price-to-earnings-growth ratio of 37.21 and a beta of 1.18.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its earnings results on Thursday, March 6th. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.44). Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. The company had revenue of $289.48 million for the quarter, compared to analysts' expectations of $285.74 million. On average, analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GWRE. Needham & Company LLC reiterated a "hold" rating on shares of Guidewire Software in a research report on Friday, March 7th. Robert W. Baird upped their price objective on Guidewire Software from $230.00 to $236.00 and gave the stock an "outperform" rating in a research note on Friday, March 7th. The Goldman Sachs Group lifted their target price on Guidewire Software from $210.00 to $240.00 and gave the company a "buy" rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. boosted their price target on Guidewire Software from $228.00 to $231.00 and gave the company an "overweight" rating in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $206.08.

Insider Buying and Selling at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 1,400 shares of Guidewire Software stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $208.36, for a total value of $291,704.00. Following the completion of the transaction, the chief executive officer now owns 252,993 shares in the company, valued at approximately $52,713,621.48. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jeffrey Elliott Cooper sold 1,956 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total value of $370,485.96. Following the sale, the chief financial officer now directly owns 71,538 shares in the company, valued at $13,550,012.58. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,771 shares of company stock worth $6,507,557 in the last quarter. 0.48% of the stock is owned by corporate insiders.

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.