Wasatch Advisors LP Sells 576,188 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Wasatch Advisors LP cut its holdings in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 29.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,377,008 shares of the technology company's stock after selling 576,188 shares during the period. Wasatch Advisors LP owned about 1.65% of Guidewire Software worth $232,136,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GWRE. NewEdge Advisors LLC boosted its holdings in shares of Guidewire Software by 179.0% during the fourth quarter. NewEdge Advisors LLC now owns 3,797 shares of the technology company's stock valued at $640,000 after acquiring an additional 2,436 shares during the period. Guggenheim Capital LLC bought a new stake in Guidewire Software during the 4th quarter valued at $237,000. LTS One Management LP acquired a new position in Guidewire Software during the 4th quarter valued at about $6,743,000. Belpointe Asset Management LLC raised its holdings in Guidewire Software by 21.4% during the fourth quarter. Belpointe Asset Management LLC now owns 7,720 shares of the technology company's stock worth $1,301,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Advisors Capital Management LLC raised its stake in shares of Guidewire Software by 5.2% in the 4th quarter. Advisors Capital Management LLC now owns 41,654 shares of the technology company's stock worth $7,022,000 after buying an additional 2,075 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Guidewire Software from $210.00 to $240.00 and gave the company a "buy" rating in a research report on Monday, February 10th. JPMorgan Chase & Co. lifted 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. Robert W. Baird lifted their target price on shares of Guidewire Software from $230.00 to $236.00 and gave the company an "outperform" 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 note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $206.08.

Guidewire Software Stock Performance

NYSE GWRE traded down $0.87 during trading on Friday, hitting $191.18. The company's stock had a trading volume of 482,782 shares, compared to its average volume of 907,172. The firm has a 50 day moving average price of $192.54 and a 200 day moving average price of $189.82. The firm has a market cap of $16.04 billion, a P/E ratio of 531.06, a price-to-earnings-growth ratio of 37.21 and a beta of 1.19. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53. Guidewire Software, Inc. has a 52 week low of $107.00 and a 52 week high of $219.59.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its quarterly earnings results 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). Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. The firm had revenue of $289.48 million for the quarter, compared to the consensus estimate of $285.74 million. Equities research analysts forecast that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $179.91, for a total transaction of $251,874.00. Following the sale, the chief executive officer now owns 278,930 shares in the company, valued at approximately $50,182,296.30. This represents a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President John P. Mullen sold 700 shares of the firm's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $210.00, for a total transaction of $147,000.00. Following the completion of the sale, the president now directly owns 177,746 shares of the company's stock, valued at approximately $37,326,660. This represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,471 shares of company stock worth $7,272,821 over the last quarter. Company insiders own 0.48% of the company's stock.

Guidewire Software 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.