Brown Capital Management LLC Has $239 Million Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Brown Capital Management LLC decreased its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 27.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,306,417 shares of the technology company’s stock after selling 500,677 shares during the period. Guidewire Software accounts for about 5.1% of Brown Capital Management LLC’s holdings, making the stock its largest position. Brown Capital Management LLC owned about 1.56% of Guidewire Software worth $238,996,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its position in Guidewire Software by 24.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock worth $626,918,000 after acquiring an additional 679,558 shares during the last quarter. International Assets Investment Management LLC increased 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 purchasing an additional 256,702 shares during the period. Whale Rock Capital Management LLC lifted its position in shares of Guidewire Software by 23.4% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after purchasing an additional 240,622 shares during the last quarter. Teca Partners LP bought a new stake in Guidewire Software during the 2nd quarter valued at approximately $25,893,000. Finally, Linonia Partnership LP grew its holdings in Guidewire Software by 8.4% in the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after buying an additional 185,077 shares during the last quarter.

Guidewire Software Stock Performance

NYSE:GWRE opened at $197.23 on Thursday. Guidewire Software, Inc. has a 12 month low of $95.02 and a 12 month high of $199.33. The company’s 50-day moving average price is $185.13 and its two-hundred day moving average price is $153.97.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The business had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. During the same period in the previous year, the business earned $0.30 EPS. Guidewire Software’s revenue was up 8.0% compared to the same quarter last year. As a group, analysts forecast that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $215.00 price target on shares of Guidewire Software in a report on Tuesday. JMP Securities upped their target price on shares of Guidewire Software from $179.00 to $200.00 and gave the company a “market outperform” rating in a research note on Friday, October 11th. Wells Fargo & Company raised their price target on shares of Guidewire Software from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. Finally, BTIG Research increased their target price on shares of Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $183.69.

Insider Transactions at Guidewire Software

In other news, insider John P. Mullen sold 6,718 shares of Guidewire Software stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $1,156,570.88. Following the completion of the sale, the insider now directly owns 160,099 shares of the company’s stock, valued at approximately $27,562,643.84. This trade represents a 4.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $4,024,928.64. Following the sale, the chief executive officer now owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. The trade was a 7.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,601 shares of company stock worth $9,116,179. Insiders own 0.48% of the company’s stock.

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.