Shannon River Fund Management LLC Decreases Stake in Guidewire Software, Inc. $GWRE

Shannon River Fund Management LLC cut its position in Guidewire Software, Inc. (NYSE:GWRE) by 16.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,057 shares of the technology company’s stock after selling 24,651 shares during the quarter. Guidewire Software comprises 4.7% of Shannon River Fund Management LLC’s investment portfolio, making the stock its 10th biggest position. Shannon River Fund Management LLC owned about 0.15% of Guidewire Software worth $28,975,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GWRE. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Guidewire Software by 57.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 51,694 shares of the technology company’s stock valued at $11,735,000 after purchasing an additional 18,774 shares in the last quarter. Scalar Gauge Management LLC bought a new stake in Guidewire Software in the third quarter worth $5,287,000. American Century Companies Inc. lifted its stake in Guidewire Software by 3.4% in the third quarter. American Century Companies Inc. now owns 520,390 shares of the technology company’s stock worth $119,617,000 after purchasing an additional 17,104 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its position in Guidewire Software by 901.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 9,110 shares of the technology company’s stock valued at $2,094,000 after buying an additional 8,200 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Guidewire Software during the third quarter valued at about $51,967,000.

Guidewire Software Trading Down 0.6%

GWRE opened at $157.98 on Thursday. The company has a quick ratio of 3.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.45. Guidewire Software, Inc. has a 52 week low of $120.37 and a 52 week high of $272.60. The stock has a market cap of $13.37 billion, a PE ratio of 71.81, a PEG ratio of 10.24 and a beta of 1.06. The business has a 50 day moving average of $152.17 and a 200-day moving average of $199.70.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, March 5th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.40. The company had revenue of $359.10 million for the quarter, compared to analysts’ expectations of $342.88 million. Guidewire Software had a return on equity of 13.44% and a net margin of 14.11%.The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. Equities research analysts predict that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Guidewire Software

In related news, insider James Winston King sold 1,860 shares of Guidewire Software stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $195.00, for a total transaction of $362,700.00. Following the completion of the transaction, the insider directly owned 33,702 shares of the company’s stock, valued at $6,571,890. This trade represents a 5.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael George Rosenbaum sold 6,015 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $192.08, for a total transaction of $1,155,361.20. Following the completion of the sale, the chief executive officer owned 240,743 shares in the company, valued at approximately $46,241,915.44. This trade represents a 2.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 42,560 shares of company stock valued at $7,882,898 in the last quarter. 0.46% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GWRE shares. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research note on Thursday, January 22nd. Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Royal Bank Of Canada dropped their price objective on Guidewire Software from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Citizens Jmp restated a “market outperform” rating and issued a $281.00 target price on shares of Guidewire Software in a report on Wednesday, December 10th. Finally, Wells Fargo & Company lowered their price target on shares of Guidewire Software from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.85.

Guidewire Software Profile

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.