Entropy Technologies LP Trims Stock Position in Guidewire Software, Inc. $GWRE

Entropy Technologies LP lessened its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 94.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,519 shares of the technology company’s stock after selling 27,520 shares during the period. Entropy Technologies LP’s holdings in Guidewire Software were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. purchased a new position in shares of Guidewire Software during the 1st quarter valued at $25,000. Amundi increased its holdings in shares of Guidewire Software by 703.0% in the second quarter. Amundi now owns 36,093 shares of the technology company’s stock worth $8,220,000 after purchasing an additional 31,598 shares during the period. Jump Financial LLC purchased a new stake in shares of Guidewire Software in the second quarter worth $305,000. Bank of Nova Scotia raised its position in shares of Guidewire Software by 30.9% in the second quarter. Bank of Nova Scotia now owns 2,024 shares of the technology company’s stock worth $477,000 after buying an additional 478 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Guidewire Software by 30.6% during the second quarter. NewEdge Advisors LLC now owns 4,911 shares of the technology company’s stock valued at $1,156,000 after buying an additional 1,152 shares during the period.

Insider Transactions at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 2,594 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $308,011.56. Following the transaction, the chief financial officer directly owned 63,467 shares of the company’s stock, valued at approximately $7,536,071.58. This trade represents a 3.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Winston King sold 1,684 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $130.64, for a total value of $219,997.76. Following the completion of the sale, the insider owned 30,018 shares of the company’s stock, valued at $3,921,551.52. The trade was a 5.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,193 shares of company stock valued at $3,797,922 over the last quarter. 0.46% of the stock is owned by company insiders.

Guidewire Software Stock Performance

NYSE GWRE opened at $152.06 on Friday. Guidewire Software, Inc. has a 52-week low of $102.30 and a 52-week high of $272.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44. The company has a market capitalization of $12.66 billion, a P/E ratio of 82.20 and a beta of 0.95. The company has a fifty day moving average of $134.64 and a 200-day moving average of $140.66.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The company had revenue of $372.54 million during the quarter, compared to analyst estimates of $355.92 million. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was up 26.9% compared to the same quarter last year. As a group, equities research analysts predict that Guidewire Software, Inc. will post 1.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wells Fargo & Company reduced their target price 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. Citizens Jmp lowered their price target on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a report on Friday, June 5th. Zacks Research downgraded Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. BTIG Research reissued a “buy” rating and set a $175.00 price objective on shares of Guidewire Software in a report on Thursday, July 2nd. Finally, Guggenheim started coverage on Guidewire Software in a report on Thursday, July 23rd. They set a “buy” rating and a $180.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.00.

About Guidewire Software

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.