Citigroup Inc. Sells 248,082 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Citigroup Inc. cut its stake in Guidewire Software, Inc. (NYSE:GWREGet Rating) by 62.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,555 shares of the technology company’s stock after selling 248,082 shares during the period. Citigroup Inc. owned 0.18% of Guidewire Software worth $16,752,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GWRE. Truist Financial Corp lifted its stake in Guidewire Software by 2.1% in the third quarter. Truist Financial Corp now owns 12,600 shares of the technology company’s stock valued at $1,498,000 after buying an additional 258 shares during the period. Russell Investments Group Ltd. lifted its stake in Guidewire Software by 7.4% in the third quarter. Russell Investments Group Ltd. now owns 23,308 shares of the technology company’s stock valued at $2,769,000 after buying an additional 1,613 shares during the period. CIBC Asset Management Inc lifted its stake in Guidewire Software by 6.9% in the third quarter. CIBC Asset Management Inc now owns 3,345 shares of the technology company’s stock valued at $398,000 after buying an additional 215 shares during the period. Alliancebernstein L.P. lifted its stake in Guidewire Software by 10.5% in the third quarter. Alliancebernstein L.P. now owns 47,253 shares of the technology company’s stock valued at $5,617,000 after buying an additional 4,472 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in Guidewire Software by 37.4% in the third quarter. Allianz Asset Management GmbH now owns 3,080 shares of the technology company’s stock valued at $367,000 after buying an additional 839 shares during the period.

A number of brokerages have recently weighed in on GWRE. DA Davidson lowered their target price on Guidewire Software from $144.00 to $132.00 in a research report on Thursday, March 3rd. Wells Fargo & Company lowered their target price on Guidewire Software from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 9th. Stifel Nicolaus lowered their price target on Guidewire Software from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Monday, March 21st. Royal Bank of Canada started coverage on Guidewire Software in a research report on Tuesday, April 19th. They issued an “outperform” rating and a $125.00 price target for the company. Finally, BTIG Research lowered their price target on Guidewire Software from $146.00 to $125.00 in a research report on Wednesday, March 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $117.90.

Shares of NYSE:GWRE opened at $80.11 on Wednesday. The company has a market capitalization of $6.69 billion, a PE ratio of -51.35 and a beta of 1.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.66 and a quick ratio of 4.66. The business has a fifty day moving average price of $88.53 and a two-hundred day moving average price of $100.46. Guidewire Software, Inc. has a 1 year low of $70.83 and a 1 year high of $130.95.

Guidewire Software (NYSE:GWREGet Rating) last posted its quarterly earnings results on Tuesday, March 8th. The technology company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.14. The company had revenue of $204.60 million during the quarter, compared to the consensus estimate of $197.47 million. Guidewire Software had a negative return on equity of 6.50% and a negative net margin of 16.97%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.16) EPS. Sell-side analysts anticipate that Guidewire Software, Inc. will post -1.94 earnings per share for the current year.

In related news, insider Michael Polelle sold 562 shares of the stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $87.92, for a total transaction of $49,411.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jeffrey Elliott Cooper sold 1,234 shares of the stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $87.92, for a total value of $108,493.28. The disclosure for this sale can be found here. Insiders have sold a total of 7,444 shares of company stock valued at $654,255 in the last quarter. 0.17% of the stock is owned by corporate insiders.

Guidewire Software Profile (Get Rating)

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 that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.

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

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