Bamco Inc. NY Cuts Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Bamco Inc. NY reduced its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,915,183 shares of the technology company's stock after selling 92,946 shares during the period. Guidewire Software accounts for approximately 2.6% of Bamco Inc. NY's investment portfolio, making the stock its 7th biggest holding. Bamco Inc. NY owned approximately 7.08% of Guidewire Software worth $997,182,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Guidewire Software by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 8,455,534 shares of the technology company's stock valued at $1,425,434,000 after purchasing an additional 90,618 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Guidewire Software by 29.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,436,873 shares of the technology company's stock valued at $747,968,000 after buying an additional 1,009,966 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Guidewire Software by 26.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,407,778 shares of the technology company's stock worth $237,323,000 after acquiring an additional 291,774 shares in the last quarter. Geode Capital Management LLC grew its stake in Guidewire Software by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 1,342,771 shares of the technology company's stock valued at $226,701,000 after acquiring an additional 12,697 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Guidewire Software by 79.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 946,158 shares of the technology company's stock valued at $159,503,000 after acquiring an additional 418,642 shares in the last quarter.

Analyst Ratings Changes

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

Guidewire Software Price Performance

NYSE GWRE traded up $0.88 on Tuesday, hitting $211.27. The stock had a trading volume of 517,438 shares, compared to its average volume of 915,290. The firm has a 50-day moving average of $190.74 and a 200-day moving average of $191.13. The company has a market capitalization of $17.72 billion, a price-to-earnings ratio of 586.85, a price-to-earnings-growth ratio of 37.21 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. Guidewire Software, Inc. has a 52-week low of $107.65 and a 52-week high of $219.59.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The technology company reported $0.08 earnings per share (EPS) 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 business had revenue of $289.48 million for the quarter, compared to the consensus estimate of $285.74 million. Equities analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Insider Activity

In other news, President John P. Mullen sold 6,116 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $189.41, for a total value of $1,158,431.56. Following the completion of the sale, the president now owns 166,330 shares of the company's stock, valued at approximately $31,504,565.30. This represents a 3.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Winston King sold 1,051 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $189.41, for a total value of $199,069.91. Following the transaction, the insider now directly owns 44,613 shares in the company, valued at $8,450,148.33. This trade represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,371 shares of company stock worth $6,215,853. 0.48% of the stock is currently owned by corporate insiders.

Guidewire Software 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.