TimesSquare Capital Management LLC Sells 48,300 Shares of Guidewire Software Inc (NYSE:GWRE)

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TimesSquare Capital Management LLC cut its stake in shares of Guidewire Software Inc (NYSE:GWRE) by 25.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 139,700 shares of the technology company’s stock after selling 48,300 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.17% of Guidewire Software worth $14,163,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bremer Bank National Association acquired a new stake in shares of Guidewire Software in the first quarter valued at $29,000. Manchester Capital Management LLC acquired a new stake in shares of Guidewire Software in the first quarter valued at $49,000. Icon Wealth Partners LLC acquired a new stake in shares of Guidewire Software in the first quarter valued at $51,000. Clearbridge Investments LLC increased its stake in shares of Guidewire Software by 58.1% in the first quarter. Clearbridge Investments LLC now owns 680 shares of the technology company’s stock valued at $66,000 after buying an additional 250 shares in the last quarter. Finally, Kavar Capital Partners LLC acquired a new stake in shares of Guidewire Software in the second quarter valued at $104,000.

A number of analysts recently commented on GWRE shares. Piper Jaffray Companies lifted their price objective on Guidewire Software from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Zacks Investment Research lowered Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, ValuEngine lowered Guidewire Software from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $106.56.

In other news, CFO Curtis Smith sold 703 shares of the business’s stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $99.49, for a total transaction of $69,941.47. Following the completion of the transaction, the chief financial officer now directly owns 5,511 shares in the company, valued at approximately $548,289.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven P. Sherry sold 4,716 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $100.52, for a total value of $474,052.32. Following the transaction, the insider now owns 3,268 shares of the company’s stock, valued at $328,499.36. The disclosure for this sale can be found here. Insiders have sold a total of 38,702 shares of company stock valued at $3,799,748 over the last 90 days. Corporate insiders own 0.69% of the company’s stock.

GWRE stock traded up $1.45 during midday trading on Friday, reaching $94.75. The stock had a trading volume of 317,900 shares, compared to its average volume of 596,059. The business has a fifty day simple moving average of $100.53 and a two-hundred day simple moving average of $98.77. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.21. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 1,052.78, a PEG ratio of 28.78 and a beta of 1.18. Guidewire Software Inc has a twelve month low of $73.82 and a twelve month high of $109.06.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.10. The firm had revenue of $162.90 million during the quarter, compared to analyst estimates of $155.23 million. Guidewire Software had a return on equity of 4.76% and a net margin of 10.66%. The company’s revenue was up 14.6% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. On average, equities analysts predict that Guidewire Software Inc will post 0.48 earnings per share for the current fiscal year.

Guidewire Software Company Profile

Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter applications. It also provides Guidewire InsuranceNow, a cloud-based platform, which offers policy, billing, and claims management functionality to insurers that prefer to subscribe to a cloud-based solution.

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Institutional Ownership by Quarter for Guidewire Software (NYSE:GWRE)

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