Pallas Capital Advisors LLC Reduces Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Pallas Capital Advisors LLC cut its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,037 shares of the technology company’s stock after selling 1,020 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Guidewire Software were worth $849,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GWRE. Massachusetts Financial Services Co. MA raised its position in shares of Guidewire Software by 24.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock valued at $626,918,000 after purchasing an additional 679,558 shares during the last quarter. Linonia Partnership LP raised its holdings in shares of Guidewire Software by 8.4% in the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after buying an additional 185,077 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Guidewire Software by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,330,074 shares of the technology company’s stock worth $243,580,000 after buying an additional 6,223 shares during the period. Whale Rock Capital Management LLC grew its holdings in shares of Guidewire Software by 3.3% during the third quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company’s stock valued at $177,954,000 after buying an additional 31,512 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Guidewire Software by 7.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 764,400 shares of the technology company’s stock valued at $139,839,000 after acquiring an additional 53,967 shares during the period.

Wall Street Analyst Weigh In

Several research firms have weighed in on GWRE. Royal Bank of Canada boosted their price target on Guidewire Software from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a report on Friday, December 6th. Robert W. Baird lifted their price objective on shares of Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Oppenheimer increased their price objective on shares of Guidewire Software from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus boosted their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $193.00.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $169.21 on Tuesday. The company has a market capitalization of $14.13 billion, a P/E ratio of 470.03, a P/E/G ratio of 46.15 and a beta of 1.23. The business’s 50 day moving average is $184.58 and its two-hundred day moving average is $168.88. The company has a current ratio of 2.66, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. Guidewire Software, Inc. has a 12-month low of $107.00 and a 12-month high of $209.15.

Insider Buying and Selling at Guidewire Software

In other news, President John P. Mullen sold 1,350 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $197.72, for a total value of $266,922.00. Following the completion of the sale, the president now directly owns 189,261 shares in the company, valued at $37,420,684.92. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael George Rosenbaum sold 5,932 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $171.06, for a total transaction of $1,014,727.92. Following the transaction, the chief executive officer now owns 281,730 shares in the company, valued at $48,192,733.80. The trade was a 2.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,347 shares of company stock valued at $4,057,594 over the last ninety days. Corporate insiders own 0.48% of the company’s stock.

About Guidewire Software

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.