Norges Bank Buys New Position in Guidewire Software, Inc. $GWRE

Norges Bank purchased a new position in Guidewire Software, Inc. (NYSE:GWRE) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 136,991 shares of the technology company’s stock, valued at approximately $27,537,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Guidewire Software by 1.3% in the third quarter. Vanguard Group Inc. now owns 9,039,377 shares of the technology company’s stock worth $2,077,791,000 after purchasing an additional 116,726 shares during the period. Geode Capital Management LLC grew its stake in Guidewire Software by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company’s stock worth $357,504,000 after purchasing an additional 145,924 shares during the period. AQR Capital Management LLC grew its stake in Guidewire Software by 18.9% in the third quarter. AQR Capital Management LLC now owns 1,271,528 shares of the technology company’s stock worth $292,146,000 after purchasing an additional 202,064 shares during the period. Qube Research & Technologies Ltd grew its stake in Guidewire Software by 34.4% in the third quarter. Qube Research & Technologies Ltd now owns 982,747 shares of the technology company’s stock worth $225,894,000 after purchasing an additional 251,280 shares during the period. Finally, Franklin Resources Inc. grew its stake in Guidewire Software by 9.7% in the third quarter. Franklin Resources Inc. now owns 856,487 shares of the technology company’s stock worth $196,872,000 after purchasing an additional 75,955 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GWRE shares. Citizens Jmp cut their target price on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a research note on Friday, June 5th. Stifel Nicolaus cut their target price on Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Royal Bank Of Canada cut their target price on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. DA Davidson cut their target price on Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research note on Wednesday, June 3rd. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $229.00.

Guidewire Software Trading Down 1.9%

Shares of NYSE:GWRE opened at $124.75 on Wednesday. The stock has a market capitalization of $10.39 billion, a price-to-earnings ratio of 67.43 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.93 and a current ratio of 2.44. The stock’s 50-day simple moving average is $139.19 and its two-hundred day simple moving average is $159.28. Guidewire Software, Inc. has a 52-week low of $115.57 and a 52-week high of $272.60.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. The business had revenue of $372.54 million for the quarter, compared to analysts’ expectations of $355.92 million. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The business’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same period last year, the firm posted $0.88 earnings per share. Analysts expect that Guidewire Software, Inc. will post 1.84 EPS for the current year.

Insider Transactions at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 4,737 shares of Guidewire Software stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $163.86, for a total transaction of $776,204.82. Following the sale, the chief executive officer owned 221,206 shares of the company’s stock, valued at approximately $36,246,815.16. This trade represents a 2.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey Elliott Cooper sold 4,757 shares of Guidewire Software stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $158.72, for a total value of $755,031.04. Following the sale, the chief financial officer directly owned 67,996 shares in the company, valued at $10,792,325.12. This trade represents a 6.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,679 shares of company stock valued at $5,178,014 over the last quarter. 0.46% of the stock is currently owned by company insiders.

About Guidewire Software

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.