Guidewire Software, Inc. (NYSE:GWRE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 6.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,317 shares of the technology company’s stock after selling 461 shares during the period. Principal Financial Group Inc.’s holdings in Guidewire Software were worth $1,156,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in Guidewire Software by 24.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock worth $626,918,000 after purchasing an additional 679,558 shares during the last quarter. Linonia Partnership LP increased its stake in shares of Guidewire Software by 8.4% in the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after buying an additional 185,077 shares during the last quarter. Geode Capital Management LLC raised its holdings in Guidewire Software by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,330,074 shares of the technology company’s stock valued at $243,580,000 after acquiring an additional 6,223 shares in the last quarter. Whale Rock Capital Management LLC boosted its stake in Guidewire Software by 3.3% during the 3rd quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company’s stock valued at $177,954,000 after acquiring an additional 31,512 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Guidewire Software by 7.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 764,400 shares of the technology company’s stock worth $139,839,000 after acquiring an additional 53,967 shares in the last quarter.

Insider Buying and Selling

In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,932 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total transaction of $1,014,727.92. Following the transaction, the chief executive officer now owns 281,730 shares of the company’s stock, valued at approximately $48,192,733.80. This trade represents a 2.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President John P. Mullen sold 1,350 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $170.43, for a total transaction of $230,080.50. Following the completion of the sale, the president now directly owns 180,746 shares of the company’s stock, valued at approximately $30,804,540.78. This represents a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,347 shares of company stock valued at $4,057,594 in the last three months. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GWRE has been the topic of several research analyst reports. Oppenheimer increased their price target on shares of Guidewire Software from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research report on Friday, December 6th. Royal Bank of Canada upped their price target on Guidewire Software from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of Guidewire Software from $210.00 to $228.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, DA Davidson reiterated a “buy” rating and set a $210.00 target price on shares of Guidewire Software in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Guidewire Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.00.

Guidewire Software Price Performance

NYSE GWRE opened at $172.31 on Friday. The company has a 50-day moving average price of $186.24 and a two-hundred day moving average price of $167.42. The stock has a market cap of $14.39 billion, a price-to-earnings ratio of 478.64, a price-to-earnings-growth ratio of 46.15 and a beta of 1.23. The company has a current ratio of 2.66, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. Guidewire Software, Inc. has a 52 week low of $102.66 and a 52 week high of $209.15.

Guidewire Software Company Profile

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.