Teacher Retirement System of Texas bought a new position in shares of Guidewire Software Inc (NYSE:GWRE) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,153 shares of the technology company’s stock, valued at approximately $889,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GWRE. Principal Financial Group Inc. grew its holdings in Guidewire Software by 43.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,747,907 shares of the technology company’s stock worth $140,234,000 after acquiring an additional 528,721 shares during the period. Norges Bank acquired a new position in shares of Guidewire Software in the 4th quarter valued at $38,279,000. Frontier Capital Management Co. LLC grew its holdings in shares of Guidewire Software by 124.6% in the 4th quarter. Frontier Capital Management Co. LLC now owns 833,985 shares of the technology company’s stock valued at $66,911,000 after buying an additional 462,707 shares during the period. Vanguard Group Inc grew its holdings in shares of Guidewire Software by 3.2% in the 3rd quarter. Vanguard Group Inc now owns 7,021,764 shares of the technology company’s stock valued at $709,268,000 after buying an additional 215,874 shares during the period. Finally, Nikko Asset Management Americas Inc. grew its holdings in shares of Guidewire Software by 17.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 940,353 shares of the technology company’s stock valued at $75,445,000 after buying an additional 141,496 shares during the period.
Several brokerages have recently issued reports on GWRE. Zacks Investment Research lowered shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 7th. Piper Jaffray Companies boosted their price target on shares of Guidewire Software from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of Guidewire Software in a report on Friday, February 1st. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $107.40.
In related news, insider Michael Polelle sold 2,732 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $94.70, for a total value of $258,720.40. Following the sale, the insider now directly owns 5,449 shares of the company’s stock, valued at approximately $516,020.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marcus Ryu sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $105.46, for a total transaction of $2,109,200.00. Following the completion of the sale, the chief executive officer now directly owns 22,404 shares in the company, valued at $2,362,725.84. The disclosure for this sale can be found here. Insiders sold a total of 70,350 shares of company stock worth $6,902,923 over the last ninety days. 0.69% of the stock is currently owned by insiders.
GWRE traded up $1.42 during trading on Wednesday, hitting $107.27. The company had a trading volume of 2,266 shares, compared to its average volume of 747,894. The stock has a market capitalization of $8.65 billion, a P/E ratio of 1,193.33, a P/E/G ratio of 31.31 and a beta of 1.28. Guidewire Software Inc has a one year low of $73.82 and a one year high of $109.06. The company has a current ratio of 7.45, a quick ratio of 7.45 and a debt-to-equity ratio of 0.21.
Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Wednesday, March 6th. The technology company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.19 by $0.15. The business had revenue of $169.30 million for the quarter, compared to analysts’ expectations of $159.73 million. Guidewire Software had a net margin of 5.56% and a return on equity of 3.59%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS. On average, equities research analysts predict that Guidewire Software Inc will post 0.42 EPS for the current fiscal year.
Guidewire Software Company Profile
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, which offers policy, billing, and claims management functionality to insurers that prefer to subscribe to a cloud-based solution.
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