Riverbridge Partners LLC Reduces Stock Position in Guidewire Software, Inc. $GWRE

Riverbridge Partners LLC cut its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 7.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 229,512 shares of the technology company’s stock after selling 19,363 shares during the period. Riverbridge Partners LLC’s holdings in Guidewire Software were worth $34,326,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GWRE. Advisors Asset Management Inc. purchased a new position in Guidewire Software during the first quarter worth $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Guidewire Software in the third quarter worth approximately $29,000. Flagship Harbor Advisors LLC purchased a new stake in Guidewire Software in the fourth quarter valued at approximately $36,000. Harbour Investments Inc. grew its holdings in Guidewire Software by 83.0% in the fourth quarter. Harbour Investments Inc. now owns 247 shares of the technology company’s stock valued at $50,000 after purchasing an additional 112 shares during the period. Finally, Clearstead Advisors LLC increased its position in Guidewire Software by 82.4% during the third quarter. Clearstead Advisors LLC now owns 270 shares of the technology company’s stock worth $62,000 after purchasing an additional 122 shares during the last quarter.

Wall Street Analysts Forecast Growth

GWRE has been the topic of a number of recent analyst reports. DA Davidson cut their price target on shares of Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Royal Bank Of Canada dropped their price objective on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Citizens Jmp reduced their target price on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a report on Friday, June 5th. The Goldman Sachs Group dropped their price target on Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Finally, Stifel Nicolaus cut their price objective on Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Guidewire Software currently has an average rating of “Moderate Buy” and a consensus price target of $229.00.

Guidewire Software Stock Up 6.6%

Shares of Guidewire Software stock opened at $109.45 on Wednesday. The company has a fifty day moving average price of $133.51 and a 200 day moving average price of $152.22. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51. Guidewire Software, Inc. has a twelve month low of $102.30 and a twelve month high of $272.60. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 59.16 and a beta of 0.93.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The firm had revenue of $372.54 million during the quarter, compared to the consensus estimate of $355.92 million. During the same period in the prior year, the firm earned $0.88 EPS. The firm’s quarterly revenue was up 26.9% compared to the same quarter last year. Equities research analysts forecast that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 1,348 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $105.67, for a total value of $142,443.16. Following the completion of the transaction, the chief financial officer owned 62,119 shares in the company, valued at $6,564,114.73. This represents a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael George Rosenbaum sold 1,200 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $105.67, for a total transaction of $126,804.00. Following the completion of the sale, the chief executive officer directly owned 198,576 shares of the company’s stock, valued at $20,983,525.92. This trade represents a 0.60% 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 29,709 shares of company stock valued at $3,740,332. Company insiders own 0.46% of the company’s stock.

Guidewire Software Company Profile

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.