Brown Capital Management LLC Has $239 Million Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Brown Capital Management LLC reduced its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 27.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,306,417 shares of the technology company’s stock after selling 500,677 shares during the quarter. Guidewire Software accounts for approximately 5.1% of Brown Capital Management LLC’s portfolio, making the stock its largest position. Brown Capital Management LLC’s holdings in Guidewire Software were worth $238,996,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Guidewire Software by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock worth $949,430,000 after buying an additional 67,439 shares during the period. Acadian Asset Management LLC raised its holdings in Guidewire Software by 91.3% in the first quarter. Acadian Asset Management LLC now owns 7,144 shares of the technology company’s stock worth $833,000 after purchasing an additional 3,409 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Guidewire Software by 7.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,096 shares of the technology company’s stock worth $478,000 after purchasing an additional 271 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Guidewire Software by 2.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 27,453 shares of the technology company’s stock worth $3,208,000 after purchasing an additional 619 shares in the last quarter. Finally, Natixis acquired a new position in shares of Guidewire Software in the 1st quarter valued at $166,000.

Insider Activity

In related news, CEO Michael George Rosenbaum sold 23,379 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $4,024,928.64. Following the transaction, the chief executive officer now owns 287,662 shares in the company, valued at approximately $49,523,889.92. This represents a 7.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President John P. Mullen sold 1,350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total transaction of $266,922.00. Following the sale, the president now owns 189,261 shares of the company’s stock, valued at $37,420,684.92. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock valued at $9,116,179 in the last quarter. Company insiders own 0.48% of the company’s stock.

Guidewire Software Stock Performance

Shares of GWRE opened at $197.23 on Thursday. Guidewire Software, Inc. has a 12 month low of $95.02 and a 12 month high of $199.33. The firm has a fifty day simple moving average of $185.13 and a 200 day simple moving average of $153.97.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The company had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. During the same period in the prior year, the business posted $0.30 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts anticipate that Guidewire Software, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JMP Securities lifted their target price on Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday, October 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $215.00 price objective on shares of Guidewire Software in a report on Tuesday. DA Davidson reissued a “buy” rating and set a $168.00 target price on shares of Guidewire Software in a research note on Friday, September 6th. Wells Fargo & Company lifted their price target on shares of Guidewire Software from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Stifel Nicolaus increased their price objective on shares of Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.69.

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.