Clearbridge Investments LLC Cuts Stake in Guidewire Software, Inc. (NYSE:GWRE)

Clearbridge Investments LLC decreased its stake in Guidewire Software, Inc. (NYSE:GWRE) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 293,947 shares of the technology company’s stock after selling 1,648 shares during the period. Clearbridge Investments LLC’s holdings in Guidewire Software were worth $40,532,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Cetera Investment Advisers grew its holdings in Guidewire Software by 2.1% during the 2nd quarter. Cetera Investment Advisers now owns 18,489 shares of the technology company’s stock valued at $2,549,000 after purchasing an additional 372 shares in the last quarter. Quarry LP acquired a new stake in shares of Guidewire Software during the second quarter valued at about $77,000. Creative Planning increased its position in shares of Guidewire Software by 26.1% during the second quarter. Creative Planning now owns 13,211 shares of the technology company’s stock worth $1,822,000 after acquiring an additional 2,731 shares during the last quarter. Algert Global LLC acquired a new position in shares of Guidewire Software in the second quarter worth about $1,099,000. Finally, Driehaus Capital Management LLC purchased a new position in Guidewire Software in the second quarter valued at about $6,674,000.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GWRE. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Friday, September 6th. The Goldman Sachs Group lifted their price target on shares of Guidewire Software from $146.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Wells Fargo & Company increased their price objective on shares of Guidewire Software from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup boosted their target price on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, Oppenheimer upped their target price on shares of Guidewire Software from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Guidewire Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.77.

Guidewire Software Stock Up 1.1 %

GWRE opened at $182.34 on Friday. The company’s 50-day moving average price is $156.85 and its 200 day moving average price is $135.32. Guidewire Software, Inc. has a fifty-two week low of $85.15 and a fifty-two week high of $183.23. The firm has a market cap of $15.07 billion, a price-to-earnings ratio of -1,402.62 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The business had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. During the same period in the prior year, the firm earned $0.30 EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts anticipate that Guidewire Software, Inc. will post 0.49 earnings per share for the current year.

Insider Buying and Selling at Guidewire Software

In other news, insider James Winston King sold 4,514 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $172.66, for a total transaction of $779,387.24. Following the completion of the transaction, the insider now owns 48,237 shares in the company, valued at $8,328,600.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 4,956 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $172.70, for a total transaction of $855,901.20. Following the completion of the transaction, the chief financial officer now owns 78,411 shares in the company, valued at approximately $13,541,579.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Winston King sold 4,514 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $172.66, for a total value of $779,387.24. Following the transaction, the insider now directly owns 48,237 shares in the company, valued at $8,328,600.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,601 shares of company stock worth $8,984,892. 0.38% of the stock is owned by insiders.

Guidewire Software Company 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.