Stockbridge Partners LLC Sells 1,382,171 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Stockbridge Partners LLC cut its holdings in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 35.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,473,475 shares of the technology company's stock after selling 1,382,171 shares during the quarter. Guidewire Software comprises 9.1% of Stockbridge Partners LLC's holdings, making the stock its 3rd largest position. Stockbridge Partners LLC owned 2.96% of Guidewire Software worth $452,498,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GWRE. Cetera Investment Advisers increased its position in shares of Guidewire Software by 648.0% in the 1st quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company's stock valued at $2,114,000 after acquiring an additional 15,695 shares during the period. Icon Wealth Advisors LLC grew its stake in Guidewire Software by 72.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 5,984 shares of the technology company's stock valued at $1,095,000 after purchasing an additional 2,512 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Guidewire Software by 8.0% in the second quarter. Parkside Financial Bank & Trust now owns 2,215 shares of the technology company's stock valued at $305,000 after purchasing an additional 165 shares during the period. Xponance Inc. raised its stake in shares of Guidewire Software by 79.8% in the second quarter. Xponance Inc. now owns 6,908 shares of the technology company's stock worth $953,000 after purchasing an additional 3,066 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in shares of Guidewire Software by 219.5% during the third quarter. Pallas Capital Advisors LLC now owns 6,057 shares of the technology company's stock worth $1,139,000 after purchasing an additional 4,161 shares during the period.

Insider Transactions at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 23,379 shares of the business's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $4,024,928.64. Following the sale, the chief executive officer now owns 287,662 shares in the company, valued at approximately $49,523,889.92. The trade was a 7.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $197.72, for a total value of $266,922.00. Following the completion of the transaction, the president now directly owns 189,261 shares of the company's stock, valued at approximately $37,420,684.92. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,601 shares of company stock worth $9,116,179. 0.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Guidewire Software from $123.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, September 9th. Robert W. Baird boosted their price objective on Guidewire Software from $204.00 to $220.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $215.00 target price on shares of Guidewire Software in a report on Tuesday, November 19th. Oppenheimer boosted their price target on Guidewire Software from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. Finally, DA Davidson reaffirmed a "buy" rating and set a $168.00 price objective on shares of Guidewire Software in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Guidewire Software presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.08.

Guidewire Software Trading Up 0.5 %

GWRE stock traded up $0.99 during mid-day trading on Friday, reaching $202.87. The company's stock had a trading volume of 631,153 shares, compared to its average volume of 697,972. The stock has a market cap of $16.94 billion, a PE ratio of -2,535.88, a P/E/G ratio of 52.22 and a beta of 1.18. The company's 50 day moving average is $188.72 and its two-hundred day moving average is $157.29. Guidewire Software, Inc. has a fifty-two week low of $95.02 and a fifty-two week high of $207.10.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $291.50 million during the quarter, compared to analysts' expectations of $283.84 million. During the same period in the prior year, the business earned $0.30 EPS. The firm's quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts forecast that Guidewire Software, Inc. will post 0.53 earnings per share for the current fiscal 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.