Charles Schwab Investment Management Inc. Sells 6,675 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Charles Schwab Investment Management Inc. lowered its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 518,200 shares of the technology company’s stock after selling 6,675 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Guidewire Software were worth $94,800,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Assetmark Inc. raised its position in Guidewire Software by 537.0% during the third quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after acquiring an additional 145 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Guidewire Software during the 2nd quarter worth about $31,000. DT Investment Partners LLC bought a new stake in shares of Guidewire Software in the 2nd quarter valued at about $41,000. Lynx Investment Advisory acquired a new stake in Guidewire Software in the 2nd quarter valued at about $41,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Guidewire Software by 21.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock worth $63,000 after purchasing an additional 60 shares during the period.

Insider Activity

In related news, insider John P. Mullen sold 6,718 shares of Guidewire Software stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $1,156,570.88. Following the sale, the insider now directly owns 160,099 shares of the company’s stock, valued at approximately $27,562,643.84. The trade was a 4.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Winston King sold 4,514 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $172.66, for a total transaction of $779,387.24. Following the completion of the transaction, the insider now directly owns 48,237 shares of the company’s stock, valued at approximately $8,328,600.42. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,601 shares of company stock worth $9,116,179. Insiders own 0.48% of the company’s stock.

Guidewire Software Stock Up 0.7 %

GWRE opened at $204.46 on Wednesday. Guidewire Software, Inc. has a twelve month low of $95.02 and a twelve month high of $207.10. The stock has a market capitalization of $17.08 billion, a price-to-earnings ratio of -2,549.88, a P/E/G ratio of 52.47 and a beta of 1.18. The company has a 50-day simple moving average of $186.96 and a 200 day simple moving average of $156.04.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating 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 business had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. During the same period last year, the firm posted $0.30 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $215.00 price objective on shares of Guidewire Software in a research report on Tuesday, November 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. Wells Fargo & Company increased their price objective on shares of Guidewire Software from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Robert W. Baird lifted their target price on shares of Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Citigroup increased their price target on shares of Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, September 9th. One 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 has a consensus rating of “Moderate Buy” and an average target price of $186.08.

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.