Teachers Retirement System of The State of Kentucky cut its holdings in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 63.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,675 shares of the technology company's stock after selling 7,991 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Guidewire Software were worth $855,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of 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 purchasing an additional 679,558 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of 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 worth $472,220,000 after buying an additional 256,702 shares during the period. Teca Partners LP bought a new position in shares of Guidewire Software during the 2nd quarter valued at approximately $25,893,000. Linonia Partnership LP grew its stake 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 during the period. Finally, Great Lakes Advisors LLC purchased a new stake in Guidewire Software in the 2nd quarter worth approximately $22,318,000.
NYSE GWRE opened at $174.52 on Thursday. The stock has a 50 day moving average price of $189.99 and a 200-day moving average price of $163.80. Guidewire Software, Inc. has a one year low of $102.66 and a one year high of $209.15. The company has a market capitalization of $14.58 billion, a P/E ratio of 484.78, a P/E/G ratio of 45.60 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 2.66.
In other Guidewire Software news, President John P. Mullen sold 7,165 shares of the business's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total transaction of $1,225,644.90. Following the transaction, the president now owns 182,096 shares in the company, valued at $31,149,341.76. The trade was a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael George Rosenbaum sold 5,932 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total transaction of $1,014,727.92. Following the completion of the sale, the chief executive officer now directly owns 281,730 shares in the company, valued at approximately $48,192,733.80. This represents a 2.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,797 shares of company stock valued at $2,760,663 in the last three months. Corporate insiders own 0.48% of the company's stock.
GWRE has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Guidewire Software in a research report on Friday, December 6th. BTIG Research upped their target price 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. Royal Bank of Canada increased their price target on Guidewire Software from $215.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Citigroup boosted their price objective on Guidewire Software from $123.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, September 9th. Finally, Robert W. Baird increased their target price on Guidewire Software from $204.00 to $220.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $193.00.
Get Our Latest Research Report on GWRE
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.
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