Invesco Ltd. Lowers Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Invesco Ltd. lowered its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 59.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 837,680 shares of the technology company’s stock after selling 1,204,757 shares during the period. Invesco Ltd. owned about 1.00% of Guidewire Software worth $141,216,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in Guidewire Software by 29.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,436,873 shares of the technology company’s stock worth $747,968,000 after buying an additional 1,009,966 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Guidewire Software by 79.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 946,158 shares of the technology company’s stock worth $159,503,000 after acquiring an additional 418,642 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Guidewire Software by 26.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,407,778 shares of the technology company’s stock worth $237,323,000 after acquiring an additional 291,774 shares in the last quarter. Groupama Asset Managment bought a new stake in shares of Guidewire Software in the 4th quarter worth approximately $42,145,000. Finally, Federated Hermes Inc. boosted its stake in shares of Guidewire Software by 97.1% in the 4th quarter. Federated Hermes Inc. now owns 395,387 shares of the technology company’s stock valued at $66,654,000 after purchasing an additional 194,832 shares in the last quarter.

Guidewire Software Stock Performance

NYSE:GWRE opened at $190.90 on Friday. 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 twelve month low of $107.00 and a twelve month high of $219.59. The stock has a market cap of $16.01 billion, a P/E ratio of 530.29, a price-to-earnings-growth ratio of 37.21 and a beta of 1.19. The firm’s fifty day simple moving average is $194.96 and its 200 day simple moving average is $189.45.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results 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 net margin of 2.91% and a return on equity of 2.38%. The company had revenue of $289.48 million for the quarter, compared to analysts’ expectations of $285.74 million. As a group, research analysts predict that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GWRE shares. The Goldman Sachs Group boosted their price target on shares of Guidewire Software from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Guidewire Software from $228.00 to $231.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Guidewire Software presently has an average rating of “Moderate Buy” and an average price target of $206.08.

Insider Transactions at Guidewire Software

In related news, insider James Winston King sold 270 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $174.78, for a total transaction of $47,190.60. Following the sale, the insider now owns 45,664 shares of the company’s stock, valued at $7,981,153.92. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $167.82, for a total transaction of $234,948.00. Following the transaction, the chief executive officer now directly owns 258,593 shares of the company’s stock, valued at $43,397,077.26. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,280 shares of company stock valued at $8,085,170. Corporate insiders own 0.48% of the company’s stock.

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.