Guidewire Software, Inc. (NYSE:GWRE) is Sixth Street Partners Management Company L.P.’s 9th Largest Position

Sixth Street Partners Management Company L.P. cut its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 42.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,000 shares of the technology company’s stock after selling 60,000 shares during the period. Guidewire Software accounts for approximately 1.5% of Sixth Street Partners Management Company L.P.’s investment portfolio, making the stock its 9th biggest holding. Sixth Street Partners Management Company L.P. owned about 0.10% of Guidewire Software worth $11,031,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new stake in Guidewire Software in the 4th quarter worth approximately $97,829,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Guidewire Software by 23.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock worth $378,832,000 after buying an additional 516,942 shares during the period. Whale Rock Capital Management LLC grew its holdings in shares of Guidewire Software by 23.4% during the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock valued at $148,323,000 after buying an additional 240,622 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Guidewire Software by 3,308.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 189,525 shares of the technology company’s stock valued at $20,666,000 after acquiring an additional 183,964 shares during the period. Finally, Clearbridge Investments LLC raised its stake in Guidewire Software by 121.0% in the 1st quarter. Clearbridge Investments LLC now owns 295,595 shares of the technology company’s stock worth $34,499,000 after acquiring an additional 161,856 shares during the last quarter.

Guidewire Software Price Performance

Shares of Guidewire Software stock opened at $173.03 on Wednesday. The business has a 50 day simple moving average of $148.29 and a two-hundred day simple moving average of $130.30. The stock has a market capitalization of $14.30 billion, a P/E ratio of -1,331.00 and a beta of 1.18. Guidewire Software, Inc. has a 12 month low of $85.15 and a 12 month high of $173.72.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative return on equity of 1.32% and a negative net margin of 0.62%. The company had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. During the same quarter last year, the firm posted $0.30 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, research analysts anticipate that Guidewire Software, Inc. will post 0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GWRE. Wells Fargo & Company increased their price objective on Guidewire Software from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, September 6th. The Goldman Sachs Group boosted their target price on shares of Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Oppenheimer upped their price target on shares of Guidewire Software from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, September 6th. JMP Securities upped their target price on Guidewire Software from $141.00 to $179.00 and gave the stock a “market outperform” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada raised their target price on Guidewire Software from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $161.69.

Insider Buying and Selling

In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total value of $201,190.50. Following the completion of the sale, the insider now directly owns 137,821 shares of the company’s stock, valued at approximately $20,539,463.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total transaction of $201,190.50. Following the completion of the sale, the insider now owns 137,821 shares of the company’s stock, valued at $20,539,463.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jeffrey Elliott Cooper sold 1,765 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $134.20, for a total value of $236,863.00. Following the completion of the transaction, the chief financial officer now directly owns 61,714 shares in the company, valued at approximately $8,282,018.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,465 shares of company stock worth $625,866. 0.38% of the stock is owned by insiders.

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.