Russell Investments Group Ltd. Reduces Position in Guidewire Software, Inc. $GWRE

Russell Investments Group Ltd. trimmed its position in Guidewire Software, Inc. (NYSE:GWRE) by 59.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,520 shares of the technology company’s stock after selling 115,231 shares during the period. Russell Investments Group Ltd.’s holdings in Guidewire Software were worth $14,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its stake in shares of Guidewire Software by 403.8% in the first quarter. SBI Securities Co. Ltd. now owns 131 shares of the technology company’s stock worth $25,000 after purchasing an additional 105 shares during the last quarter. Ossiam acquired a new position in Guidewire Software in the 4th quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB raised its position in Guidewire Software by 70.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company’s stock worth $32,000 after buying an additional 70 shares during the last quarter. Dunhill Financial LLC acquired a new stake in Guidewire Software during the 1st quarter valued at approximately $33,000. Finally, Colonial Trust Co SC boosted its holdings in shares of Guidewire Software by 176.0% in the 4th quarter. Colonial Trust Co SC now owns 287 shares of the technology company’s stock valued at $48,000 after acquiring an additional 183 shares during the last quarter.

Insider Transactions at Guidewire Software

In other Guidewire Software news, insider James Winston King sold 2,482 shares of Guidewire Software stock in a transaction on Monday, July 14th. The shares were sold at an average price of $220.65, for a total transaction of $547,653.30. Following the sale, the insider owned 37,441 shares of the company’s stock, valued at $8,261,356.65. The trade was a 6.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President John P. Mullen sold 3,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $223.28, for a total transaction of $669,840.00. Following the completion of the sale, the president owned 143,489 shares of the company’s stock, valued at $32,038,223.92. This trade represents a 2.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,342 shares of company stock valued at $5,568,857 over the last ninety days. Insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GWRE shares. Royal Bank Of Canada reissued an “outperform” rating and set a $290.00 target price on shares of Guidewire Software in a report on Monday, June 23rd. The Goldman Sachs Group lifted their price objective on Guidewire Software from $235.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Robert W. Baird upped their target price on Guidewire Software from $265.00 to $270.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Citigroup raised their target price on Guidewire Software from $199.00 to $247.00 and gave the stock a “neutral” rating in a report on Thursday, June 5th. Finally, Bank of America boosted their price target on Guidewire Software from $135.00 to $160.00 and gave the company an “underperform” rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.92.

Guidewire Software Stock Up 1.3%

Shares of NYSE GWRE opened at $211.64 on Monday. The firm has a market cap of $17.82 billion, a price-to-earnings ratio of 529.10, a price-to-earnings-growth ratio of 14.91 and a beta of 1.16. The company’s 50-day simple moving average is $229.51 and its 200-day simple moving average is $211.60. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.49. Guidewire Software, Inc. has a 52-week low of $142.94 and a 52-week high of $263.20.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.41. Guidewire Software had a net margin of 3.04% and a return on equity of 6.96%. The firm had revenue of $293.51 million for the quarter, compared to analyst estimates of $286.40 million. During the same period last year, the company posted $0.26 EPS. Guidewire Software’s quarterly revenue was up 22.0% compared to the same quarter last year. Equities analysts predict that Guidewire Software, Inc. will post 0.52 EPS 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.