Victory Capital Management Inc. Sells 63,382 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Victory Capital Management Inc. lowered its stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 80.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,718 shares of the technology company's stock after selling 63,382 shares during the quarter. Victory Capital Management Inc.'s holdings in Guidewire Software were worth $2,650,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Versant Capital Management Inc bought a new position in Guidewire Software during the 4th quarter valued at approximately $25,000. Assetmark Inc. increased its stake in shares of Guidewire Software by 537.0% during the third quarter. Assetmark Inc. now owns 172 shares of the technology company's stock valued at $31,000 after buying an additional 145 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Guidewire Software during the third quarter valued at approximately $33,000. Brooklyn Investment Group bought a new position in shares of Guidewire Software during the third quarter valued at approximately $42,000. Finally, R Squared Ltd purchased a new stake in shares of Guidewire Software in the 4th quarter worth about $47,000.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, President John P. Mullen sold 1,350 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $170.43, for a total transaction of $230,080.50. Following the sale, the president now directly owns 180,746 shares in the company, valued at $30,804,540.78. This represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $170.04, for a total value of $238,056.00. Following the completion of the sale, the chief executive officer now directly owns 269,130 shares of the company's stock, valued at $45,762,865.20. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,174 shares of company stock worth $6,746,147 over the last 90 days. 0.48% of the stock is owned by insiders.

Remove Ads

Analysts Set New Price Targets

GWRE has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Guidewire Software from $215.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Robert W. Baird raised their price objective 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. JPMorgan Chase & Co. upped their target price on shares of Guidewire Software from $228.00 to $231.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Oppenheimer increased their price target on Guidewire Software from $220.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Finally, DA Davidson restated a "buy" rating and issued a $210.00 price objective on shares of Guidewire Software in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Guidewire Software currently has a consensus rating of "Moderate Buy" and an average price target of $206.08.

Guidewire Software Price Performance

Shares of GWRE stock traded down $3.01 during trading hours on Thursday, hitting $193.25. The stock had a trading volume of 645,618 shares, compared to its average volume of 860,853. The stock's 50-day moving average price is $196.62 and its two-hundred day moving average price is $186.78. Guidewire Software, Inc. has a one year low of $107.00 and a one year high of $219.59. The stock has a market capitalization of $16.21 billion, a price-to-earnings ratio of 538.25, a PEG ratio of 37.21 and a beta of 1.31. 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 (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 the consensus estimate 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 return on equity of 2.38% and a net margin of 2.91%. Equities analysts forecast that Guidewire Software, Inc. will post 0.52 EPS for the current year.

About Guidewire Software

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.