California Public Employees Retirement System Cuts Stake in Guidewire Software, Inc. (NYSE:GWRE)

California Public Employees Retirement System decreased its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 7.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,600 shares of the technology company’s stock after selling 7,000 shares during the period. California Public Employees Retirement System owned about 0.12% of Guidewire Software worth $4,822,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Guidewire Software by 51.4% in the first quarter. Wellington Management Group LLP now owns 6,377,813 shares of the technology company’s stock valued at $359,261,000 after buying an additional 2,165,143 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Guidewire Software by 5.8% in the first quarter. William Blair Investment Management LLC now owns 4,389,763 shares of the technology company’s stock worth $247,275,000 after buying an additional 240,337 shares in the last quarter. Brown Capital Management LLC boosted its stake in Guidewire Software by 3.1% in the first quarter. Brown Capital Management LLC now owns 4,246,662 shares of the technology company’s stock worth $239,214,000 after buying an additional 126,719 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Guidewire Software by 4.0% in the first quarter. JPMorgan Chase & Co. now owns 3,875,527 shares of the technology company’s stock worth $218,307,000 after buying an additional 148,196 shares during the period. Finally, State Street Corp boosted its position in Guidewire Software by 1.9% in the fourth quarter. State Street Corp now owns 920,555 shares of the technology company’s stock worth $45,408,000 after buying an additional 17,084 shares during the period.

Shares of Guidewire Software, Inc. (GWRE) traded down 0.43% on Friday, hitting $71.05. 166,748 shares of the stock traded hands. Guidewire Software, Inc. has a 52 week low of $49.18 and a 52 week high of $71.70. The stock has a 50 day moving average price of $68.97 and a 200-day moving average price of $60.22. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 518.61 and a beta of 1.26.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, June 1st. The technology company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.19. The firm had revenue of $123.44 million during the quarter, compared to analyst estimates of $104.55 million. Guidewire Software had a net margin of 2.19% and a return on equity of 1.97%. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. On average, equities research analysts forecast that Guidewire Software, Inc. will post $0.85 EPS for the current year.

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A number of research firms have issued reports on GWRE. Zacks Investment Research upgraded Guidewire Software from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Wednesday, July 12th. J P Morgan Chase & Co began coverage on shares of Guidewire Software in a research note on Tuesday, June 13th. They set an “overweight” rating for the company. Jefferies Group LLC upgraded shares of Guidewire Software from a “neutral” rating to an “overweight” rating in a research note on Tuesday, June 13th. Piper Jaffray Companies upgraded shares of Guidewire Software from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $70.00 to $75.00 in a research note on Tuesday, June 13th. Finally, Bank of America Corporation reiterated a “neutral” rating and issued a $74.00 target price (up from $68.00) on shares of Guidewire Software in a research note on Saturday, June 3rd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $75.25.

In related news, insider Scott Roza sold 780 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $66.56, for a total value of $51,916.80. Following the sale, the insider now owns 5,740 shares in the company, valued at $382,054.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Priscilla Hung sold 948 shares of the business’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $60.27, for a total transaction of $57,135.96. Following the completion of the sale, the insider now owns 1,457 shares in the company, valued at approximately $87,813.39. The disclosure for this sale can be found here. In the last three months, insiders sold 118,671 shares of company stock worth $7,816,952. 0.96% of the stock is currently owned by insiders.

About Guidewire Software

Guidewire Software, Inc is a provider of software products for property and casualty (P&C) insurers. The Company’s software serves as a technology platform for P&C insurance carriers. The Company’s InsurancePlatform consists of three elements: core transaction processing, data management and analytics, and digital engagement.

Institutional Ownership by Quarter for Guidewire Software (NYSE:GWRE)

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