Victory Capital Management Inc. Reduces Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Victory Capital Management Inc. reduced its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 80.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,718 shares of the technology company’s stock after selling 63,382 shares during the quarter. Victory Capital Management Inc.’s holdings in Guidewire Software were worth $2,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Atomi Financial Group Inc. grew its holdings in shares of Guidewire Software by 22.2% during the fourth quarter. Atomi Financial Group Inc. now owns 2,688 shares of the technology company’s stock worth $453,000 after buying an additional 488 shares in the last quarter. Donoghue Forlines LLC purchased a new stake in shares of Guidewire Software during the fourth quarter worth about $2,110,000. Icon Wealth Advisors LLC grew its holdings in shares of Guidewire Software by 72.4% during the third quarter. Icon Wealth Advisors LLC now owns 5,984 shares of the technology company’s stock worth $1,095,000 after buying an additional 2,512 shares in the last quarter. GDS Wealth Management grew its holdings in shares of Guidewire Software by 618.5% during the fourth quarter. GDS Wealth Management now owns 18,752 shares of the technology company’s stock worth $3,161,000 after buying an additional 16,142 shares in the last quarter. Finally, Whale Rock Capital Management LLC grew its holdings in shares of Guidewire Software by 3.3% during the third quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company’s stock worth $177,954,000 after buying an additional 31,512 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently commented on GWRE. Stifel Nicolaus lifted their price target on shares of Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price target on shares of Guidewire Software from $228.00 to $231.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Royal Bank of Canada lifted their price target on shares of Guidewire Software from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. JMP Securities reissued a “market outperform” rating and issued a $231.00 target price on shares of Guidewire Software in a research report on Friday, December 6th. Finally, Wells Fargo & Company boosted their target price on shares of Guidewire Software from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $206.08.

Guidewire Software Price Performance

GWRE opened at $185.85 on Monday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53. Guidewire Software, Inc. has a 52-week low of $107.00 and a 52-week high of $219.59. The company has a 50 day moving average of $195.28 and a two-hundred day moving average of $186.10. The company has a market cap of $15.52 billion, a P/E ratio of 516.26, a P/E/G ratio of 37.21 and a beta of 1.31.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Thursday, March 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.44). Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. The business had revenue of $289.48 million for the quarter, compared to analysts’ expectations of $285.74 million. On average, analysts expect that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, President John P. Mullen sold 7,165 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total value of $1,225,644.90. Following the completion of the transaction, the president now directly owns 182,096 shares in the company, valued at approximately $31,149,341.76. This represents a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael George Rosenbaum sold 5,932 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 281,730 shares of the company’s stock, valued at $48,192,733.80. This trade represents a 2.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,056 shares of company stock worth $8,094,892 over the last ninety days. 0.48% of the stock is owned by company 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.