Stockbridge Partners LLC Reduces Stake in Guidewire Software, Inc. (NYSE:GWRE)

Stockbridge Partners LLC decreased its position in Guidewire Software, Inc. (NYSE:GWRE) by 35.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,473,475 shares of the technology company’s stock after selling 1,382,171 shares during the quarter. Guidewire Software makes up approximately 9.1% of Stockbridge Partners LLC’s portfolio, making the stock its 3rd largest position. Stockbridge Partners LLC owned about 2.96% of Guidewire Software worth $452,498,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GWRE. Cetera Investment Advisers raised its position in Guidewire Software by 648.0% in the first quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company’s stock worth $2,114,000 after acquiring an additional 15,695 shares during the period. Icon Wealth Advisors LLC grew its holdings in Guidewire Software by 72.4% during the third quarter. Icon Wealth Advisors LLC now owns 5,984 shares of the technology company’s stock valued at $1,095,000 after purchasing an additional 2,512 shares during the period. Parkside Financial Bank & Trust increased its position in Guidewire Software by 8.0% in the second quarter. Parkside Financial Bank & Trust now owns 2,215 shares of the technology company’s stock worth $305,000 after buying an additional 165 shares during the last quarter. Xponance Inc. increased its position in Guidewire Software by 79.8% in the second quarter. Xponance Inc. now owns 6,908 shares of the technology company’s stock worth $953,000 after buying an additional 3,066 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its position in shares of Guidewire Software by 219.5% during the 3rd quarter. Pallas Capital Advisors LLC now owns 6,057 shares of the technology company’s stock valued at $1,139,000 after buying an additional 4,161 shares during the last quarter.

Guidewire Software Stock Performance

Shares of NYSE GWRE opened at $201.88 on Friday. The stock’s 50-day simple moving average is $188.18 and its two-hundred day simple moving average is $156.97. Guidewire Software, Inc. has a twelve month low of $95.02 and a twelve month high of $207.10.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The company had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. During the same period in the prior year, the business earned $0.30 earnings per share. Guidewire Software’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Insider Activity

In other Guidewire Software news, President John P. Mullen sold 1,350 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $187.68, for a total value of $253,368.00. Following the completion of the sale, the president now owns 190,611 shares of the company’s stock, valued at $35,773,872.48. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the transaction, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. This trade represents a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,601 shares of company stock worth $9,116,179. 0.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GWRE has been the subject of several recent research reports. JMP Securities boosted their price objective on Guidewire Software from $200.00 to $231.00 and gave the company a “market outperform” rating in a research note on Monday. Robert W. Baird upped their price target on shares of Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. DA Davidson reiterated a “buy” rating and issued a $168.00 price objective on shares of Guidewire Software in a research note on Friday, September 6th. Royal Bank of Canada restated an “outperform” rating and set a $215.00 target price on shares of Guidewire Software in a research report on Tuesday, November 19th. Finally, BTIG Research lifted their price target on Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $186.08.

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.