Principal Financial Group Inc. Has $1.16 Million Position in Guidewire Software, Inc. (NYSE:GWRE)

Principal Financial Group Inc. decreased its stake in Guidewire Software, Inc. (NYSE:GWRE) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Guidewire Software by 21.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock valued at $63,000 after acquiring an additional 60 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Guidewire Software by 4.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock worth $283,000 after buying an additional 79 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Guidewire Software by 1.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock worth $1,252,000 after buying an additional 116 shares during the last quarter. CHICAGO TRUST Co NA raised its stake in Guidewire Software by 4.8% during the second quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock worth $392,000 after buying an additional 130 shares during the last quarter. Finally, Legacy Advisors LLC lifted its holdings in Guidewire Software by 1.6% in the second quarter. Legacy Advisors LLC now owns 8,329 shares of the technology company’s stock valued at $1,148,000 after buying an additional 135 shares during the period.

Guidewire Software Trading Up 1.5 %

Guidewire Software stock opened at $202.82 on Friday. The firm’s fifty day moving average price is $186.35 and its two-hundred day moving average price is $155.16. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of -2,534.93, a price-to-earnings-growth ratio of 51.70 and a beta of 1.18. Guidewire Software, Inc. has a 1-year low of $95.02 and a 1-year high of $202.99.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. On average, research analysts forecast that Guidewire Software, Inc. will post 0.53 EPS for the current year.

Analyst Upgrades and Downgrades

GWRE has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $215.00 price target on shares of Guidewire Software in a report on Tuesday, November 19th. Wells Fargo & Company raised their target price on Guidewire Software from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. JMP Securities boosted their price target on Guidewire Software from $179.00 to $200.00 and gave the company a “market outperform” rating in a research note on Friday, October 11th. Oppenheimer increased their price target on Guidewire Software from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, BTIG Research lifted their price objective on shares of Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.69.

Insider Buying and Selling

In related news, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the sale, the chief executive officer now directly owns 287,662 shares in the company, valued at approximately $49,523,889.92. This trade represents a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James Winston King sold 4,514 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $172.66, for a total value of $779,387.24. Following the completion of the transaction, the insider now owns 48,237 shares of the company’s stock, valued at $8,328,600.42. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,601 shares of company stock worth $9,116,179. 0.48% of the stock is owned by corporate insiders.

Guidewire Software 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.