SurgoCap Partners LP Lowers Stake in Guidewire Software, Inc. $GWRE

SurgoCap Partners LP lessened its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 4.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 719,573 shares of the technology company’s stock after selling 30,601 shares during the quarter. Guidewire Software comprises approximately 4.0% of SurgoCap Partners LP’s holdings, making the stock its 12th largest position. SurgoCap Partners LP’s holdings in Guidewire Software were worth $144,641,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new stake in Guidewire Software during the first quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Guidewire Software during the third quarter valued at about $29,000. Flagship Harbor Advisors LLC purchased a new stake in Guidewire Software during the fourth quarter valued at about $36,000. Harbour Investments Inc. grew its position in Guidewire Software by 83.0% during the fourth quarter. Harbour Investments Inc. now owns 247 shares of the technology company’s stock valued at $50,000 after acquiring an additional 112 shares during the period. Finally, Clearstead Advisors LLC grew 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 valued at $62,000 after acquiring an additional 122 shares during the period.

Guidewire Software Trading Down 2.1%

Shares of GWRE opened at $120.03 on Tuesday. The stock’s 50-day moving average is $136.87 and its two-hundred day moving average is $156.66. The stock has a market cap of $9.99 billion, a PE ratio of 64.88 and a beta of 0.93. Guidewire Software, Inc. has a 12 month low of $113.67 and a 12 month high of $272.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. The company had revenue of $372.54 million for the quarter, compared to analysts’ expectations of $355.92 million. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The firm’s quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Equities analysts forecast that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.

Insider Activity at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,200 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $135.62, for a total transaction of $162,744.00. Following the transaction, the chief executive officer owned 206,806 shares in the company, valued at $28,047,029.72. The trade was a 0.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,200 shares of company stock worth $1,851,408 in the last 90 days. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GWRE. Wells Fargo & Company lowered their price target on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Oppenheimer lowered their price target on Guidewire Software from $250.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, May 18th. Royal Bank Of Canada lowered their price target on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Citizens Jmp lowered their price target on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a research report on Friday, June 5th. Finally, BTIG Research restated a “buy” rating and set a $200.00 price objective on shares of Guidewire Software in a research note on Tuesday, June 2nd. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $229.00.

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.