Allspring Global Investments Holdings LLC Raises Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Allspring Global Investments Holdings LLC grew its stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 985.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,598 shares of the technology company's stock after purchasing an additional 20,516 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Guidewire Software were worth $3,830,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Versant Capital Management Inc bought a new position in Guidewire Software in the fourth quarter worth $25,000. Assetmark Inc. grew its position in shares of Guidewire Software by 537.0% in the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company's stock worth $31,000 after buying an additional 145 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Guidewire Software in the 3rd quarter worth about $33,000. Brooklyn Investment Group purchased a new position in Guidewire Software during the 3rd quarter valued at about $42,000. Finally, R Squared Ltd bought a new stake in Guidewire Software during the fourth quarter worth about $47,000.

Insider Buying and Selling

In other news, President John P. Mullen sold 7,165 shares of the firm's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total transaction of $1,225,644.90. Following the sale, the president now directly owns 182,096 shares in the company, valued at $31,149,341.76. This trade represents a 3.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael George Rosenbaum sold 5,932 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $171.06, for a total value of $1,014,727.92. Following the completion of the sale, the chief executive officer now owns 281,730 shares of the company's stock, valued at $48,192,733.80. The trade was a 2.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,556 shares of company stock valued at $6,820,145. 0.48% of the stock is owned by insiders.

Guidewire Software Stock Performance

GWRE stock traded down $5.99 during trading on Friday, reaching $203.83. The stock had a trading volume of 651,395 shares, compared to its average volume of 1,352,558. The stock's 50 day moving average is $189.74 and its two-hundred day moving average is $180.69. The firm has a market cap of $17.02 billion, a PE ratio of 566.19, a PEG ratio of 37.83 and a beta of 1.25. Guidewire Software, Inc. has a 52 week low of $107.00 and a 52 week high of $219.59. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.53.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Guidewire Software from $210.00 to $228.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. The Goldman Sachs Group lifted their price objective on Guidewire Software from $210.00 to $240.00 and gave the company a "buy" rating in a research note on Monday, February 10th. JMP Securities reissued a "market outperform" rating and issued a $231.00 target price on shares of Guidewire Software in a report on Friday, December 6th. Needham & Company LLC reissued a "hold" rating on shares of Guidewire Software in a research report on Friday, December 6th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $210.00 target price on shares of Guidewire Software in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $204.50.

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.