The Manufacturers Life Insurance Company reduced its stake in Guidewire Software, Inc. (NYSE:GWRE) by 24.4% during the fourth quarter, according to its latest 13F filing with the Securities & Exchange Commission. The firm retained 18,332 shares of the technology company’s stock after selling 5,907 shares during the period. The Manufacturers Life Insurance Company’s holdings in Guidewire Software were valued at $3,090,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also adjusted their holdings of Guidewire Software. Notable changes include Ossiam buying a new stake worth approximately $29,000, Cullen Frost Bankers Inc. acquiring a new stake worth $34,000, and Mitsubishi UFJ Asset Management Co. Ltd. increasing its position by 101.0% to own 197 shares worth $34,000. R Squared Ltd bought a new position valued at about $47,000, while Tobam acquired a new stake worth about $52,000.
Analyst Ratings and Price Targets
Several brokerages have recently weighed in on GWRE. JPMorgan Chase & Co. raised their price objective from $228.00 to $231.00 and maintained an “overweight” rating. Robert W. Baird increased their target price from $230.00 to $236.00 with an “outperform” rating. The Goldman Sachs Group lifted their price objective from $210.00 to $240.00 and gave the stock a “buy” rating. The consensus rating among analysts is “Moderate Buy” with a consensus price target of $206.08.
Guidewire Software’s Recent Performance
Shares of GWRE stock opened at $213.63 on Friday. The firm has a fifty-day moving average of $191.70 and a 200-day moving average of $191.64. Guidewire Software reported quarterly earnings of $0.08 per share, missing the consensus estimate of $0.52. The company had revenue of $289.48 million, exceeding analyst estimates of $285.74 million.
Insider Transactions
Guidewire Software’s President John P. Mullen sold 2,300 shares at an average price of $203.13, valued at $467,199.00. Insider James Winston King sold 1,051 shares at an average price of $189.41, worth $199,069.91. Insiders have sold 33,771 shares worth $6,507,557 over the last three months, with company insiders owning 0.48% of the company’s stock.
