Guidewire Software, Inc. $GWRE Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC trimmed its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 7.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 248,365 shares of the technology company’s stock after selling 18,594 shares during the quarter. Riverbridge Partners LLC’s holdings in Guidewire Software were worth $35,412,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GWRE. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Guidewire Software in the 3rd quarter worth approximately $28,000. Fiduciary Financial Advisors bought a new position in shares of Guidewire Software during the 2nd quarter worth approximately $29,000. Silvant Capital Management LLC purchased a new stake in Guidewire Software during the second quarter valued at approximately $33,000. Legacies Wealth LLC purchased a new stake in Guidewire Software during the third quarter valued at approximately $38,000. Finally, IFP Advisors Inc lifted its position in Guidewire Software by 129.2% during the third quarter. IFP Advisors Inc now owns 330 shares of the technology company’s stock valued at $47,000 after acquiring an additional 186 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have weighed in on GWRE. BTIG Research raised their target price on shares of Guidewire Software from $175.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Citigroup upped their price target on Guidewire Software from $137.00 to $181.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a report on Monday, August 31st. Piper Sandler reiterated an “overweight” rating and set a $210.00 price objective on shares of Guidewire Software in a report on Friday, September 4th. Finally, Oppenheimer raised their price objective on Guidewire Software from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, September 4th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $216.23.

Guidewire Software Price Performance

Shares of GWRE stock opened at $155.78 on Wednesday. Guidewire Software, Inc. has a fifty-two week low of $102.30 and a fifty-two week high of $229.85. The firm has a market capitalization of $12.87 billion, a price-to-earnings ratio of 95.57 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.79 and a current ratio of 1.79. The stock’s 50-day simple moving average is $162.35 and its 200-day simple moving average is $149.30.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 3rd. The technology company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.06. The firm had revenue of $411.09 million for the quarter, compared to the consensus estimate of $402.61 million. Guidewire Software had a net margin of 9.44% and a return on equity of 12.66%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. As a group, equities analysts forecast that Guidewire Software, Inc. will post 2.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Guidewire Software news, President John P. Mullen sold 1,800 shares of the firm’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $187.19, for a total value of $336,942.00. Following the completion of the transaction, the president owned 176,447 shares of the company’s stock, valued at approximately $33,029,113.93. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Rosenbaum sold 1,200 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $159.60, for a total transaction of $191,520.00. Following the completion of the transaction, the chief executive officer directly owned 271,266 shares of the company’s stock, valued at approximately $43,294,053.60. This represents a 0.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 209,135 shares of company stock valued at $31,764,329. Insiders own 0.50% of the company’s stock.

Guidewire Software Company Profile

Guidewire Software develops software for property and casualty insurance companies. Its products support core insurance operations, including policy administration, billing and claims management, as well as data analytics and digital customer services. The company offers its applications through Guidewire Cloud and provides related implementation and support services. Its platform includes products such as PolicyCenter, BillingCenter and ClaimCenter, designed to help insurers manage workflows and modernize their technology systems.