Shannon River Fund Management LLC Reduces Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Shannon River Fund Management LLC decreased its position in Guidewire Software, Inc. (NYSE:GWRE) by 62.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,532 shares of the technology company’s stock after selling 99,539 shares during the quarter. Guidewire Software makes up 1.5% of Shannon River Fund Management LLC’s investment portfolio, making the stock its 14th largest position. Shannon River Fund Management LLC owned 0.07% of Guidewire Software worth $10,036,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in Guidewire Software by 29.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,436,873 shares of the technology company’s stock valued at $747,968,000 after purchasing an additional 1,009,966 shares during the period. Arrowstreet Capital Limited Partnership increased its position 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 valued at $159,503,000 after buying an additional 418,642 shares during the period. Rathbones Group PLC bought a new position in Guidewire Software in the fourth quarter worth about $58,118,000. Artisan Partners Limited Partnership lifted its holdings in Guidewire Software by 26.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,407,778 shares of the technology company’s stock worth $237,323,000 after buying an additional 291,774 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Guidewire Software by 1,951.9% during the 4th quarter. Renaissance Technologies LLC now owns 264,700 shares of the technology company’s stock valued at $44,623,000 after acquiring an additional 251,800 shares in the last quarter.

Insider Activity at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,400 shares of the firm’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 completion of the transaction, the chief executive officer now owns 274,730 shares in the company, valued at $58,979,036.40. This trade represents a 0.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jeffrey Elliott Cooper sold 300 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 $52,434.00. Following the completion of the sale, the chief financial officer now directly owns 73,494 shares in the company, valued at approximately $12,845,281.32. The trade was a 0.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,680 shares of company stock valued at $8,358,030. Corporate insiders own 0.48% of the company’s stock.

Guidewire Software Price Performance

NYSE GWRE opened at $192.20 on Tuesday. The stock has a market cap of $16.12 billion, a price-to-earnings ratio of 533.89, a PEG ratio of 37.21 and a beta of 1.19. Guidewire Software, Inc. has a 12 month low of $107.00 and a 12 month high of $219.59. The company’s 50 day moving average is $194.44 and its two-hundred day moving average is $189.64. 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 (NYSE:GWRE) last released its 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 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. As a group, research analysts anticipate that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on GWRE. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research note on Friday, March 7th. Robert W. Baird raised their price objective on Guidewire Software from $230.00 to $236.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. The Goldman Sachs Group upped their target price on shares of Guidewire Software from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Guidewire Software from $228.00 to $231.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $206.08.

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.