Great Lakes Advisors LLC Has $2.49 Million Stock Holdings in Guidewire Software, Inc. $GWRE

Great Lakes Advisors LLC trimmed its stake in Guidewire Software, Inc. (NYSE:GWRE) by 44.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,816 shares of the technology company’s stock after selling 8,499 shares during the quarter. Great Lakes Advisors LLC’s holdings in Guidewire Software were worth $2,486,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Qube Research & Technologies Ltd boosted its stake in shares of Guidewire Software by 3,636.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 731,467 shares of the technology company’s stock worth $172,224,000 after acquiring an additional 711,893 shares during the period. Groupama Asset Managment boosted its holdings in Guidewire Software by 240.0% in the 2nd quarter. Groupama Asset Managment now owns 850,000 shares of the technology company’s stock valued at $200,132,000 after purchasing an additional 600,000 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Guidewire Software by 405.1% in the second quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company’s stock valued at $126,743,000 after buying an additional 431,725 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Guidewire Software during the 3rd quarter worth $51,967,000. Finally, Vanguard Group Inc. grew its stake in Guidewire Software by 2.4% during the second quarter. Vanguard Group Inc. now owns 8,922,651 shares of the technology company’s stock worth $2,100,838,000 after buying an additional 211,047 shares in the last quarter.

Insiders Place Their Bets

In related news, CAO David Franklin Peterson sold 358 shares of Guidewire Software stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total value of $68,764.64. Following the sale, the chief accounting officer owned 12,806 shares of the company’s stock, valued at approximately $2,459,776.48. The trade was a 2.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael George Rosenbaum sold 1,200 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $160.32, for a total value of $192,384.00. Following the transaction, the chief executive officer directly owned 234,343 shares in the company, valued at $37,569,869.76. This represents a 0.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 51,558 shares of company stock valued at $10,261,857. 0.46% of the stock is owned by company insiders.

Guidewire Software Trading Down 4.9%

NYSE GWRE opened at $140.34 on Friday. The business has a fifty day simple moving average of $189.91 and a 200 day simple moving average of $215.49. The firm has a market capitalization of $11.93 billion, a P/E ratio of 133.66, a PEG ratio of 9.62 and a beta of 1.08. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.44. Guidewire Software, Inc. has a 12 month low of $140.25 and a 12 month high of $272.60.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, hitting 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 the consensus estimate of $316.62 million. During the same period in the prior year, the firm posted $0.43 EPS. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. On average, analysts predict that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

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