Silvercrest Asset Management Group LLC Sells 1,490 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Silvercrest Asset Management Group LLC reduced its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 35.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,662 shares of the technology company’s stock after selling 1,490 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Guidewire Software were worth $449,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GWRE. Massachusetts Financial Services Co. MA raised its holdings in Guidewire Software by 29.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,436,873 shares of the technology company’s stock valued at $747,968,000 after buying an additional 1,009,966 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Guidewire Software by 79.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 946,158 shares of the technology company’s stock valued at $159,503,000 after buying an additional 418,642 shares during the period. Janus Henderson Group PLC raised its holdings in Guidewire Software by 242.2% during the 4th quarter. Janus Henderson Group PLC now owns 555,892 shares of the technology company’s stock valued at $93,683,000 after buying an additional 393,445 shares during the period. Rathbones Group PLC purchased a new stake in Guidewire Software during the 4th quarter valued at $58,118,000. Finally, Balyasny Asset Management L.P. raised its holdings in Guidewire Software by 877.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 367,445 shares of the technology company’s stock valued at $61,944,000 after buying an additional 329,863 shares during the period.

Insider Activity

In other news, CEO Michael George Rosenbaum sold 1,400 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $203.65, for a total transaction of $285,110.00. Following the transaction, the chief executive officer now owns 271,930 shares in the company, valued at approximately $55,378,544.50. This trade represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President John P. Mullen sold 2,300 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $203.13, for a total value of $467,199.00. Following the transaction, the president now owns 172,446 shares in the company, valued at approximately $35,028,955.98. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,371 shares of company stock worth $6,210,967. Company insiders own 0.48% of the company’s stock.

Guidewire Software Stock Performance

GWRE stock opened at $215.16 on Wednesday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $196.79 and its two-hundred day simple moving average is $193.00. Guidewire Software, Inc. has a twelve month low of $107.65 and a twelve month high of $219.59. The firm has a market cap of $18.05 billion, a price-to-earnings ratio of 597.67, a PEG ratio of 37.21 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last released its earnings results on Thursday, March 6th. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.44). The business had revenue of $289.48 million during 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%. Analysts predict that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on GWRE shares. Robert W. Baird increased their price target on Guidewire Software from $230.00 to $236.00 and gave the company an “outperform” rating in a report on Friday, March 7th. JPMorgan Chase & Co. increased 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. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Friday, March 7th. Finally, The Goldman Sachs Group increased their target price on Guidewire Software from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and a consensus target price of $206.08.

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.