Shannon River Fund Management LLC Trims Stake in Guidewire Software, Inc. (NYSE:GWRE)

Shannon River Fund Management LLC reduced its position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 62.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,532 shares of the technology company's stock after selling 99,539 shares during the quarter. Guidewire Software accounts for about 1.5% of Shannon River Fund Management LLC's holdings, making the stock its 14th largest holding. Shannon River Fund Management LLC owned approximately 0.07% of Guidewire Software worth $10,036,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Guidewire Software by 29.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,436,873 shares of the technology company's stock valued at $747,968,000 after purchasing an additional 1,009,966 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Guidewire Software by 79.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 946,158 shares of the technology company's stock valued at $159,503,000 after acquiring an additional 418,642 shares in the last quarter. Rathbones Group PLC bought a new stake in shares of Guidewire Software during the 4th quarter valued at about $58,118,000. Artisan Partners Limited Partnership grew its holdings in shares of Guidewire Software by 26.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,407,778 shares of the technology company's stock worth $237,323,000 after acquiring an additional 291,774 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Guidewire Software by 1,951.9% in the fourth quarter. Renaissance Technologies LLC now owns 264,700 shares of the technology company's stock worth $44,623,000 after purchasing an additional 251,800 shares in the last quarter.

Insider Buying and Selling

In other news, President John P. Mullen sold 700 shares of Guidewire Software stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $210.00, for a total transaction of $147,000.00. Following the transaction, the president now directly owns 177,746 shares of the company's stock, valued at $37,326,660. The trade was a 0.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael George Rosenbaum sold 1,400 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $201.90, for a total transaction of $282,660.00. Following the sale, the chief executive officer now owns 277,530 shares in the company, valued at $56,033,307. The trade was a 0.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,471 shares of company stock valued at $7,272,821. 0.48% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GWRE has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price objective on shares of Guidewire Software from $210.00 to $240.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Robert W. Baird raised their price objective on Guidewire Software from $230.00 to $236.00 and gave the company an "outperform" rating in a research report on Friday, March 7th. Needham & Company LLC reissued a "hold" rating on shares of Guidewire Software in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price target on Guidewire Software from $228.00 to $231.00 and gave the company an "overweight" rating in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $206.08.

Guidewire Software Stock Performance

NYSE:GWRE traded down $0.87 during trading hours on Friday, reaching $191.18. The company had a trading volume of 482,782 shares, compared to its average volume of 909,304. The firm's 50 day moving average price is $192.54 and its 200-day moving average price is $189.88. The firm has a market cap of $16.04 billion, a price-to-earnings ratio of 531.06, a PEG ratio of 37.21 and a beta of 1.19. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.53. Guidewire Software, Inc. has a 52 week low of $107.52 and a 52 week high of $219.59.

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