Darsana Capital Partners LP Sells 950,000 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Darsana Capital Partners LP cut its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 29.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,300,000 shares of the technology company’s stock after selling 950,000 shares during the period. Guidewire Software accounts for approximately 10.4% of Darsana Capital Partners LP’s holdings, making the stock its 2nd biggest holding. Darsana Capital Partners LP owned approximately 2.75% of Guidewire Software worth $420,762,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GWRE. Massachusetts Financial Services Co. MA lifted its position in Guidewire Software by 24.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock valued at $626,918,000 after buying an additional 679,558 shares in the last quarter. Linonia Partnership LP lifted its holdings in shares of Guidewire Software by 8.4% during the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after acquiring an additional 185,077 shares in the last quarter. Sei Investments Co. boosted its position in Guidewire Software by 1.3% during the 2nd quarter. Sei Investments Co. now owns 405,519 shares of the technology company’s stock worth $55,917,000 after purchasing an additional 5,235 shares during the period. AQR Capital Management LLC increased its holdings in Guidewire Software by 65.7% in the 2nd quarter. AQR Capital Management LLC now owns 291,907 shares of the technology company’s stock valued at $40,251,000 after purchasing an additional 115,757 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in Guidewire Software by 18,001.5% in the third quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock valued at $472,220,000 after purchasing an additional 256,702 shares during the period.

Insider Transactions at Guidewire Software

In other Guidewire Software news, President John P. Mullen sold 1,350 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total value of $266,922.00. Following the transaction, the president now owns 189,261 shares of the company’s stock, valued at approximately $37,420,684.92. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 287,662 shares of the company’s stock, valued at $49,523,889.92. This trade represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,601 shares of company stock valued at $9,116,179. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

GWRE has been the subject of several analyst reports. JMP Securities upped their target price on Guidewire Software from $200.00 to $231.00 and gave the stock a “market outperform” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. upped their price target on Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Oppenheimer boosted their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Robert W. Baird raised their price target on shares of Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, BTIG Research boosted their price objective on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.08.

Guidewire Software Trading Up 0.5 %

Shares of NYSE GWRE opened at $202.87 on Friday. The business has a 50 day simple moving average of $188.72 and a 200-day simple moving average of $157.29. Guidewire Software, Inc. has a twelve month low of $95.02 and a twelve month high of $207.10. The company has a market capitalization of $16.94 billion, a price-to-earnings ratio of -2,535.88, a price-to-earnings-growth ratio of 52.22 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The firm had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. As a group, equities analysts predict that Guidewire Software, Inc. will post 0.53 earnings per share for the current year.

Guidewire Software Company 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.