Allspring Global Investments Holdings LLC Has $230,000 Stake in Guidewire Software, Inc. (NYSE:GWRE)

Allspring Global Investments Holdings LLC cut its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 31.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,971 shares of the technology company’s stock after selling 924 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Guidewire Software were worth $230,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in shares of Guidewire Software in the fourth quarter worth approximately $27,000. RiverPark Advisors LLC bought a new stake in shares of Guidewire Software in the 4th quarter valued at $27,000. Lindbrook Capital LLC increased its position in shares of Guidewire Software by 45.7% during the fourth quarter. Lindbrook Capital LLC now owns 421 shares of the technology company’s stock worth $46,000 after buying an additional 132 shares during the period. Banque Cantonale Vaudoise raised its stake in Guidewire Software by 78.5% during the first quarter. Banque Cantonale Vaudoise now owns 498 shares of the technology company’s stock worth $58,000 after buying an additional 219 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in Guidewire Software during the fourth quarter worth $56,000.

Insiders Place Their Bets

In other news, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction on Monday, May 20th. The stock was sold at an average price of $123.16, for a total transaction of $166,266.00. Following the sale, the insider now directly owns 146,697 shares in the company, valued at approximately $18,067,202.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,582 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total transaction of $751,002.28. Following the completion of the transaction, the chief executive officer now directly owns 239,793 shares of the company’s stock, valued at $32,261,750.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $123.16, for a total value of $166,266.00. Following the completion of the sale, the insider now owns 146,697 shares in the company, valued at $18,067,202.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,064 shares of company stock valued at $1,710,361. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

GWRE has been the subject of a number of recent analyst reports. BTIG Research increased their price target on Guidewire Software from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Robert W. Baird lifted their target price on Guidewire Software from $140.00 to $152.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. Citigroup increased their price target on Guidewire Software from $109.00 to $122.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. Stifel Nicolaus lifted their price objective on shares of Guidewire Software from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. Finally, Wells Fargo & Company increased their target price on shares of Guidewire Software from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.08.

Guidewire Software Price Performance

Shares of GWRE stock opened at $137.84 on Thursday. The firm has a 50-day moving average of $127.30 and a 200-day moving average of $118.37. Guidewire Software, Inc. has a one year low of $76.18 and a one year high of $140.55. The company has a market cap of $11.39 billion, a P/E ratio of -1,060.23 and a beta of 1.19.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Tuesday, June 4th. The technology company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.14. Guidewire Software had a negative net margin of 1.11% and a negative return on equity of 1.19%. The firm had revenue of $240.68 million during the quarter, compared to analyst estimates of $231.46 million. As a group, research analysts expect that Guidewire Software, Inc. will post -0.31 earnings per share for the current fiscal year.

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.