Rhumbline Advisers Cuts Position in Guidewire Software, Inc. $GWRE

Rhumbline Advisers lowered its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 1.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 273,778 shares of the technology company’s stock after selling 4,172 shares during the quarter. Rhumbline Advisers’ holdings in Guidewire Software were worth $62,931,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new position in Guidewire Software during the first quarter valued at approximately $25,000. Root Financial Partners LLC acquired a new stake in shares of Guidewire Software in the third quarter worth $29,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Guidewire Software in the 2nd quarter valued at $30,000. Westside Investment Management Inc. purchased a new position in shares of Guidewire Software in the 2nd quarter valued at $32,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Guidewire Software by 620.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 144 shares of the technology company’s stock valued at $34,000 after acquiring an additional 124 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently issued reports on GWRE shares. Wells Fargo & Company lowered their price target on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. BTIG Research reaffirmed a “buy” rating and issued a $250.00 target price on shares of Guidewire Software in a research report on Tuesday, January 27th. Citigroup increased their target price on Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Wall Street Zen downgraded Guidewire Software from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Finally, DA Davidson upgraded Guidewire Software from a “neutral” rating to a “buy” rating and upped their price target for the stock from $246.00 to $250.00 in a report on Wednesday, December 17th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Guidewire Software has a consensus rating of “Moderate Buy” and a consensus target price of $266.64.

Insider Transactions at Guidewire Software

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 216 shares of the stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $180.87, for a total transaction of $39,067.92. Following the transaction, the chief financial officer directly owned 72,753 shares in the company, valued at $13,158,835.11. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael George Rosenbaum sold 1,200 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $140.01, for a total transaction of $168,012.00. Following the transaction, the chief executive officer directly owned 233,143 shares of the company’s stock, valued at approximately $32,642,351.43. This represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 46,958 shares of company stock valued at $9,103,787. 0.46% of the stock is currently owned by corporate insiders.

Guidewire Software Stock Down 4.1%

Shares of NYSE GWRE opened at $125.05 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.48 and a current ratio of 3.48. Guidewire Software, Inc. has a 1 year low of $121.88 and a 1 year high of $272.60. The stock’s 50-day simple moving average is $174.80 and its 200-day simple moving average is $209.75. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 119.09, a PEG ratio of 8.40 and a beta of 1.06.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. Guidewire Software had a return on equity of 10.15% and a net margin of 7.23%.The firm had revenue of $332.64 million during the quarter, compared to analyst estimates of $316.62 million. During the same quarter last year, the firm earned $0.43 EPS. Guidewire Software’s quarterly revenue was up 26.5% on a year-over-year basis. As a group, equities analysts anticipate that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Guidewire Software declared that its board has approved a share buyback program on Thursday, January 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

About Guidewire Software

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.