Russell Investments Group Ltd. Cuts Stake in Guidewire Software, Inc. (NYSE:GWRE)

Posted by Defense World Staff on May 12th, 2023

Russell Investments Group Ltd. reduced its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE – Get Rating) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 195,649 shares of the technology company’s stock after selling 13,658 shares during the period. Russell Investments Group Ltd. owned about 0.24% of Guidewire Software worth $12,240,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GWRE. HighTower Advisors LLC increased its stake in Guidewire Software by 5.5% during the 1st quarter. HighTower Advisors LLC now owns 13,825 shares of the technology company’s stock worth $1,311,000 after buying an additional 726 shares during the period. Cetera Advisor Networks LLC grew its holdings in Guidewire Software by 6.6% during the 1st quarter. Cetera Advisor Networks LLC now owns 4,428 shares of the technology company’s stock worth $419,000 after acquiring an additional 276 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Guidewire Software during the 1st quarter worth approximately $253,000. MetLife Investment Management LLC acquired a new position in Guidewire Software during the 1st quarter worth approximately $159,000. Finally, Raymond James Trust N.A. grew its holdings in Guidewire Software by 2.0% during the 1st quarter. Raymond James Trust N.A. now owns 10,089 shares of the technology company’s stock worth $955,000 after acquiring an additional 195 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Guidewire Software in a report on Monday, January 23rd. They set a “buy” rating and a $88.00 price target for the company. Robert W. Baird boosted their price target on shares of Guidewire Software from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, March 7th. Stifel Nicolaus upped their target price on shares of Guidewire Software from $60.00 to $72.00 and gave the company a “hold” rating in a report on Tuesday, March 7th. Wells Fargo & Company upped their target price on shares of Guidewire Software from $55.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 7th. Finally, Citigroup upped their target price on shares of Guidewire Software from $67.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday, March 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $83.09.

Guidewire Software Stock Down 1.5 %

Shares of NYSE:GWRE opened at $78.85 on Friday. The stock has a market cap of $6.43 billion, a P/E ratio of -39.43 and a beta of 1.28. The firm has a fifty day moving average price of $76.87 and a 200 day moving average price of $68.93. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.66 and a quick ratio of 3.66. Guidewire Software, Inc. has a 1-year low of $52.08 and a 1-year high of $83.14.

Guidewire Software (NYSE:GWRE – Get Rating) last issued its quarterly earnings results on Monday, March 6th. The technology company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.17). The business had revenue of $232.61 million for the quarter, compared to analyst estimates of $222.13 million. Guidewire Software had a negative return on equity of 12.63% and a negative net margin of 19.19%. Sell-side analysts predict that Guidewire Software, Inc. will post -1.74 EPS for the current year.

Insider Buying and Selling

In other Guidewire Software news, insider James Winston King sold 1,526 shares of the company’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $76.88, for a total transaction of $117,318.88. Following the completion of the transaction, the insider now owns 35,550 shares in the company, valued at approximately $2,733,084. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Guidewire Software news, insider James Winston King sold 1,526 shares of the company’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $76.88, for a total transaction of $117,318.88. Following the completion of the transaction, the insider now owns 35,550 shares in the company, valued at approximately $2,733,084. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John P. Mullen sold 11,576 shares of the company’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $77.17, for a total transaction of $893,319.92. Following the transaction, the insider now owns 131,533 shares of the company’s stock, valued at approximately $10,150,401.61. The disclosure for this sale can be found here. Insiders sold a total of 26,445 shares of company stock worth $2,037,798 in the last 90 days. Company insiders own 0.17% of the company’s stock.

Guidewire Software Profile

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Guidewire Software, Inc engages in the provision of technology platform, which comprises software, services, and a partner ecosystem, for the global Property and Casualty insurance industry. Its products include InsuranceSuite, PolicyCenter, ClaimCenter, BillingCenter, InsuranceNow, Analytics, Ecosystem, Guidewire for salesforce, and Guidewire Cloud.