Wellington Management Group LLP Reduces Stake in Guidewire Software, Inc. (NYSE:GWRE)

Wellington Management Group LLP trimmed its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 40.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,647,776 shares of the technology company’s stock after selling 1,101,882 shares during the quarter. Wellington Management Group LLP’s holdings in Guidewire Software were worth $277,782,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GWRE. Versant Capital Management Inc acquired a new position in shares of Guidewire Software during the 4th quarter worth $25,000. Point72 Hong Kong Ltd acquired a new position in Guidewire Software during the third quarter worth about $33,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Guidewire Software in the fourth quarter valued at about $34,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Guidewire Software by 101.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company’s stock valued at $34,000 after purchasing an additional 99 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Guidewire Software in the fourth quarter valued at approximately $47,000.

Insider Activity at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $214.68, for a total transaction of $300,552.00. Following the sale, the chief executive officer now owns 274,730 shares in the company, valued at $58,979,036.40. This represents a 0.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider James Winston King sold 270 shares of Guidewire Software stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $174.78, for a total value of $47,190.60. Following the completion of the transaction, the insider now owns 45,664 shares of the company’s stock, valued at approximately $7,981,153.92. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,580 shares of company stock valued at $7,417,937. Insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Robert W. Baird increased their target price on Guidewire Software from $230.00 to $236.00 and gave the company an “outperform” rating in a report on Friday, March 7th. JPMorgan Chase & Co. lifted their price objective on Guidewire Software from $228.00 to $231.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Oppenheimer raised their price target on shares of Guidewire Software from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research note on Friday, March 7th. Finally, The Goldman Sachs Group upped their price objective on Guidewire Software from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, February 10th. One 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.com, Guidewire Software has an average rating of “Moderate Buy” and an average target price of $206.08.

Guidewire Software Trading Up 1.6 %

NYSE GWRE opened at $190.40 on Wednesday. The stock has a market cap of $15.97 billion, a P/E ratio of 528.89, a PEG ratio of 37.21 and a beta of 1.31. The company’s fifty day simple moving average is $199.71 and its 200-day simple moving average is $189.07. The company has a current ratio of 2.66, a quick 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.

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

About Guidewire Software

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.