AGF Management Ltd. Cuts Stake in Guidewire Software, Inc. $GWRE

AGF Management Ltd. cut its stake in Guidewire Software, Inc. (NYSE:GWRE) by 76.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,515 shares of the technology company’s stock after selling 50,305 shares during the period. AGF Management Ltd.’s holdings in Guidewire Software were worth $3,566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new position in shares of Guidewire Software in the 1st quarter valued at $25,000. Truist Financial Corp increased its holdings in shares of Guidewire Software by 16.0% during the 2nd quarter. Truist Financial Corp now owns 11,792 shares of the technology company’s stock worth $2,776,000 after buying an additional 1,628 shares during the last quarter. OLD National Bancorp IN purchased a new position in shares of Guidewire Software in the 2nd quarter worth $235,000. DMC Group LLC boosted its holdings in Guidewire Software by 9.2% in the second quarter. DMC Group LLC now owns 1,321 shares of the technology company’s stock valued at $311,000 after acquiring an additional 111 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in Guidewire Software during the second quarter valued at about $84,000.

Insiders Place Their Bets

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 216 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $180.87, for a total transaction of $39,067.92. Following the completion of the sale, the chief financial officer owned 72,753 shares in the company, valued at $13,158,835.11. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael George Rosenbaum sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $140.01, for a total value of $168,012.00. Following the completion of the transaction, the chief executive officer directly owned 233,143 shares in the company, valued at approximately $32,642,351.43. The trade was a 0.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,358 shares of company stock valued at $9,409,729 in the last three months. 0.46% of the stock is owned by insiders.

Guidewire Software Trading Down 7.0%

NYSE GWRE opened at $129.21 on Wednesday. The company’s fifty day simple moving average is $186.75 and its 200-day simple moving average is $214.23. Guidewire Software, Inc. has a 52 week low of $124.47 and a 52 week high of $272.60. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.44. The stock has a market cap of $10.99 billion, a P/E ratio of 123.06, a PEG ratio of 9.05 and a beta of 1.06.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The business had revenue of $332.64 million during the quarter, compared to analyst estimates of $316.62 million. During the same period last year, the business earned $0.43 EPS. The business’s revenue was up 26.5% on a year-over-year basis. Equities research analysts predict that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Guidewire Software announced that its Board of Directors has initiated a share repurchase program on Thursday, January 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GWRE shares. Zacks Research downgraded Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research report on Thursday, January 22nd. Citizens Jmp reaffirmed a “market outperform” rating and set a $281.00 price target on shares of Guidewire Software in a research report on Wednesday, December 10th. Citigroup boosted their price objective on shares of Guidewire Software from $242.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Finally, Wells Fargo & Company dropped their price objective on shares of Guidewire Software from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $269.50.

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.