Contravisory Investment Management Inc. Cuts Stock Position in Guidewire Software, Inc. (NYSE:GWRE)


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Contravisory Investment Management Inc. lowered its position in Guidewire Software, Inc. (NYSE:GWRE) by 14.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,189 shares of the technology company’s stock after selling 199 shares during the period. Contravisory Investment Management Inc.’s holdings in Guidewire Software were worth $153,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Carroll Financial Associates Inc. grew its position in Guidewire Software by 46.6% in the 4th quarter. Carroll Financial Associates Inc. now owns 255 shares of the technology company’s stock valued at $32,000 after buying an additional 81 shares during the last quarter. Prospera Financial Services Inc acquired a new position in Guidewire Software during the 3rd quarter worth approximately $42,000. FinTrust Capital Advisors LLC lifted its position in Guidewire Software by 1,507.4% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 434 shares of the technology company’s stock worth $48,000 after acquiring an additional 407 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in Guidewire Software by 119.6% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 516 shares of the technology company’s stock worth $54,000 after acquiring an additional 281 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Guidewire Software in the 3rd quarter valued at approximately $64,000. 89.97% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have issued reports on GWRE shares. Needham & Company LLC upped their target price on Guidewire Software from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 9th. Zacks Investment Research raised Guidewire Software from a “hold” rating to a “buy” rating and set a $133.00 target price on the stock in a research report on Tuesday, December 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Guidewire Software presently has a consensus rating of “Buy” and an average target price of $127.33.

GWRE stock opened at $127.26 on Thursday. The company has a current ratio of 7.27, a quick ratio of 5.96 and a debt-to-equity ratio of 0.20. The firm has a market cap of $10.66 billion, a P/E ratio of -326.31 and a beta of 1.35. Guidewire Software, Inc. has a 12-month low of $71.64 and a 12-month high of $134.21. The stock’s 50 day simple moving average is $126.41 and its 200 day simple moving average is $114.30.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Monday, December 7th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.22. The business had revenue of $169.80 million for the quarter, compared to analyst estimates of $164.60 million. Guidewire Software had a positive return on equity of 0.81% and a negative net margin of 4.29%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. On average, research analysts forecast that Guidewire Software, Inc. will post -1 EPS for the current fiscal year.

In related news, COO Priscilla Hung sold 2,560 shares of the company’s stock in a transaction on Thursday, December 17th. The stock was sold at an average price of $125.10, for a total transaction of $320,256.00. Following the completion of the transaction, the chief operating officer now directly owns 10,119 shares in the company, valued at approximately $1,265,886.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider James Winston King sold 1,481 shares of the company’s stock in a transaction on Thursday, December 17th. The stock was sold at an average price of $125.10, for a total value of $185,273.10. Following the transaction, the insider now owns 7,138 shares of the company’s stock, valued at $892,963.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,229 shares of company stock worth $3,368,567. Corporate insiders own 0.12% of the company’s stock.

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.

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

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