Brown Brothers Harriman & Co. Has $155.52 Million Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Brown Brothers Harriman & Co. lessened its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 12.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 850,092 shares of the technology company’s stock after selling 120,881 shares during the quarter. Guidewire Software accounts for about 1.1% of Brown Brothers Harriman & Co.’s investment portfolio, making the stock its 27th largest holding. Brown Brothers Harriman & Co.’s holdings in Guidewire Software were worth $155,516,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Assetmark Inc. lifted its position in Guidewire Software by 537.0% during the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after purchasing an additional 145 shares during the period. Rothschild Investment LLC acquired a new position in Guidewire Software in the second quarter valued at approximately $31,000. DT Investment Partners LLC bought a new position in Guidewire Software in the second quarter valued at approximately $41,000. Lynx Investment Advisory bought a new position in Guidewire Software in the second quarter valued at approximately $41,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Guidewire Software by 21.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock worth $63,000 after acquiring an additional 60 shares during the period.

Guidewire Software Price Performance

Shares of GWRE stock opened at $202.82 on Monday. Guidewire Software, Inc. has a 12-month low of $95.02 and a 12-month high of $202.99. The firm has a fifty day moving average of $186.35 and a 200-day moving average of $155.43.

Guidewire Software (NYSE:GWRE) last released its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The company’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. Research analysts anticipate that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GWRE. Oppenheimer raised their price target on Guidewire Software from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Robert W. Baird raised their target price on Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $215.00 price target on shares of Guidewire Software in a research note on Tuesday, November 19th. JMP Securities lifted their price objective on shares of Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Friday, October 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.69.

Insider Buying and Selling

In other news, CEO Michael George Rosenbaum sold 23,379 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the transaction, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. This represents a 7.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $187.68, for a total value of $253,368.00. Following the completion of the sale, the president now directly owns 190,611 shares in the company, valued at approximately $35,773,872.48. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,601 shares of company stock worth $9,116,179. 0.48% of the stock is owned by corporate insiders.

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.