Sumitomo Mitsui Trust Holdings Inc. Sells 124,653 Shares of Guidewire Software Inc (NYSE:GWRE)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of Guidewire Software Inc (NYSE:GWRE) by 17.3% in the second quarter, HoldingsChannel.com reports. The firm owned 595,711 shares of the technology company’s stock after selling 124,653 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Guidewire Software were worth $60,393,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Bremer Bank National Association purchased a new position in shares of Guidewire Software in the 1st quarter worth approximately $29,000. Manchester Capital Management LLC purchased a new position in shares of Guidewire Software in the 1st quarter worth approximately $49,000. Icon Wealth Partners LLC purchased a new position in shares of Guidewire Software in the 1st quarter worth approximately $51,000. Clearbridge Investments LLC boosted its stake in shares of Guidewire Software by 58.1% in the 1st quarter. Clearbridge Investments LLC now owns 680 shares of the technology company’s stock worth $66,000 after buying an additional 250 shares during the last quarter. Finally, First Hawaiian Bank boosted its stake in shares of Guidewire Software by 24.3% in the 1st quarter. First Hawaiian Bank now owns 1,361 shares of the technology company’s stock worth $133,000 after buying an additional 266 shares during the last quarter.

In related news, CEO Marcus Ryu sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $96.54, for a total value of $1,930,800.00. Following the transaction, the chief executive officer now owns 22,404 shares in the company, valued at $2,162,882.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven P. Sherry sold 4,716 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $100.52, for a total value of $474,052.32. Following the completion of the transaction, the insider now owns 3,268 shares in the company, valued at approximately $328,499.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,702 shares of company stock worth $3,799,748. 0.69% of the stock is owned by company insiders.

Guidewire Software stock traded down $1.71 during trading on Friday, hitting $96.76. The stock had a trading volume of 389,980 shares, compared to its average volume of 561,588. Guidewire Software Inc has a 1 year low of $73.82 and a 1 year high of $109.06. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.38 and a current ratio of 6.38. The company’s 50 day moving average price is $101.19. The firm has a market cap of $8.06 billion, a PE ratio of 1,075.11, a price-to-earnings-growth ratio of 30.38 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.08 by $0.10. Guidewire Software had a return on equity of 4.76% and a net margin of 10.66%. The business had revenue of $162.90 million for the quarter, compared to the consensus estimate of $155.23 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. Guidewire Software’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, sell-side analysts predict that Guidewire Software Inc will post 0.48 EPS for the current fiscal year.

A number of equities analysts have recently weighed in on the company. ValuEngine downgraded Guidewire Software from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Piper Jaffray Companies boosted their target price on Guidewire Software from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Finally, Zacks Investment Research downgraded Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Guidewire Software currently has a consensus rating of “Hold” and an average price target of $106.56.

Guidewire Software Company Profile

Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter applications. It also provides Guidewire InsuranceNow, a cloud-based platform, which offers policy, billing, and claims management functionality to insurers that prefer to subscribe to a cloud-based solution.

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Institutional Ownership by Quarter for Guidewire Software (NYSE:GWRE)

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