Pinebridge Investments L.P. Cuts Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Pinebridge Investments L.P. lowered its stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,136 shares of the technology company's stock after selling 4,525 shares during the quarter. Pinebridge Investments L.P.'s holdings in Guidewire Software were worth $6,598,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc bought a new position in shares of Guidewire Software in the 4th quarter valued at about $25,000. Ossiam bought a new position in shares of Guidewire Software in the 4th quarter valued at about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Guidewire Software by 101.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company's stock valued at $34,000 after acquiring an additional 99 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in Guidewire Software during the fourth quarter worth about $34,000. Finally, R Squared Ltd acquired a new stake in Guidewire Software during the fourth quarter worth approximately $47,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GWRE. 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. The Goldman Sachs Group lifted their target price on Guidewire Software from $210.00 to $240.00 and gave the stock a "buy" rating in a report on Monday, February 10th. JPMorgan Chase & Co. raised their price objective on Guidewire Software from $228.00 to $231.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Guidewire Software in a research report on Friday, March 7th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $206.08.

Insiders Place Their Bets

In related news, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $167.82, for a total transaction of $234,948.00. Following the completion of the sale, the chief executive officer now owns 258,593 shares of the company's stock, valued at $43,397,077.26. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President John P. Mullen sold 3,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $208.79, for a total value of $626,370.00. Following the sale, the president now owns 174,746 shares of the company's stock, valued at approximately $36,485,217.34. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,371 shares of company stock worth $6,856,503 in the last three months. Corporate insiders own 0.48% of the company's stock.

Guidewire Software Stock Up 2.8 %

NYSE GWRE traded up $5.59 during mid-day trading on Tuesday, reaching $205.16. The stock had a trading volume of 591,995 shares, compared to its average volume of 913,107. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 2.66. Guidewire Software, Inc. has a 1 year low of $107.65 and a 1 year high of $219.59. The stock has a market cap of $17.21 billion, a PE ratio of 569.89, a price-to-earnings-growth ratio of 37.21 and a beta of 1.19. The company has a fifty day moving average price of $190.11 and a 200 day moving average price of $190.36.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.44). The business had revenue of $289.48 million for the quarter, compared to the consensus estimate of $285.74 million. Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. On average, research analysts expect that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

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.