Guidewire Software, Inc. $GWRE is Shannon River Fund Management LLC’s 10th Largest Position

Shannon River Fund Management LLC trimmed its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 16.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 126,057 shares of the technology company’s stock after selling 24,651 shares during the period. Guidewire Software makes up about 4.7% of Shannon River Fund Management LLC’s holdings, making the stock its 10th biggest holding. Shannon River Fund Management LLC’s holdings in Guidewire Software were worth $28,975,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Guidewire Software by 57.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 51,694 shares of the technology company’s stock valued at $11,735,000 after buying an additional 18,774 shares during the last quarter. Scalar Gauge Management LLC purchased a new position in shares of Guidewire Software in the third quarter worth $5,287,000. American Century Companies Inc. boosted its position in shares of Guidewire Software by 3.4% during the third quarter. American Century Companies Inc. now owns 520,390 shares of the technology company’s stock valued at $119,617,000 after buying an additional 17,104 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in Guidewire Software by 901.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 9,110 shares of the technology company’s stock worth $2,094,000 after buying an additional 8,200 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Guidewire Software during the 3rd quarter valued at about $51,967,000.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GWRE. BTIG Research boosted their price objective on shares of Guidewire Software from $175.00 to $200.00 and gave the company a “buy” rating in a report on Friday, March 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a research report on Thursday, January 22nd. Citizens Jmp reiterated a “market outperform” rating and set a $281.00 target price on shares of Guidewire Software in a research note on Wednesday, December 10th. Wells Fargo & Company dropped their price target on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Finally, Wall Street Zen lowered Guidewire Software from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $249.85.

Guidewire Software Stock Performance

NYSE:GWRE opened at $157.98 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.48 and a current ratio of 2.93. The stock has a 50-day simple moving average of $152.17 and a two-hundred day simple moving average of $199.70. The firm has a market capitalization of $13.37 billion, a PE ratio of 71.81, a P/E/G ratio of 10.24 and a beta of 1.06. Guidewire Software, Inc. has a 52-week low of $120.37 and a 52-week high of $272.60.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, March 5th. The technology company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.40. The firm had revenue of $359.10 million for the quarter, compared to analysts’ expectations of $342.88 million. Guidewire Software had a return on equity of 13.44% and a net margin of 14.11%.During the same period in the previous year, the firm earned $0.51 EPS. The business’s quarterly revenue was up 24.0% on a year-over-year basis. Analysts forecast that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Guidewire Software declared that its Board of Directors has approved a share repurchase plan on Thursday, January 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider James Winston King sold 1,860 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $195.00, for a total value of $362,700.00. Following the transaction, the insider owned 33,702 shares of the company’s stock, valued at approximately $6,571,890. The trade was a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael George Rosenbaum sold 6,015 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total transaction of $1,155,361.20. Following the transaction, the chief executive officer directly owned 240,743 shares of the company’s stock, valued at $46,241,915.44. The trade was a 2.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 42,560 shares of company stock worth $7,882,898. 0.46% of the stock is currently owned by insiders.

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.