Linonia Partnership LP Buys New Shares in Guidewire Software, Inc. $GWRE

Linonia Partnership LP bought a new position in Guidewire Software, Inc. (NYSE:GWRE) in the 2nd quarter, Holdings Channel.com reports. The fund bought 6,933,483 shares of the technology company’s stock, valued at approximately $853,165,000. Guidewire Software makes up 15.2% of Linonia Partnership LP’s holdings, making the stock its 3rd biggest position. Linonia Partnership LP owned approximately 0.08% of Guidewire Software at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of GWRE. Advisors Asset Management Inc. bought a new stake in Guidewire Software during the first quarter valued at about $25,000. Fiduciary Financial Advisors bought a new position in shares of Guidewire Software in the second quarter worth about $29,000. Measured Wealth Private Client Group LLC bought a new position in shares of Guidewire Software in the third quarter worth about $29,000. Silvant Capital Management LLC purchased a new stake in shares of Guidewire Software during the second quarter worth about $33,000. Finally, Leonteq Securities AG purchased a new stake in shares of Guidewire Software during the first quarter worth about $36,000.

Insider Transactions at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 1,200 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $187.82, for a total transaction of $225,384.00. Following the completion of the transaction, the chief executive officer directly owned 187,776 shares in the company, valued at approximately $35,268,088.32. This represents a 0.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Winston King sold 1,684 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $130.64, for a total transaction of $219,997.76. Following the completion of the transaction, the insider directly owned 30,018 shares of the company’s stock, valued at approximately $3,921,551.52. This trade represents a 5.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 44,593 shares of company stock valued at $6,631,278 in the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Guidewire Software Trading Down 1.6%

Shares of GWRE stock opened at $188.77 on Wednesday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $15.72 billion, a price-to-earnings ratio of 102.04 and a beta of 0.92. Guidewire Software, Inc. has a 12-month low of $102.30 and a 12-month high of $272.60. The stock’s 50-day moving average price is $147.47 and its 200-day moving average price is $142.73.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. The company had revenue of $372.54 million during the quarter, compared to analyst estimates of $355.92 million. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The firm’s revenue was up 26.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 earnings per share. Equities research analysts predict that Guidewire Software, Inc. will post 1.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Guggenheim started coverage on Guidewire Software in a report on Thursday, July 23rd. They issued a “buy” rating and a $180.00 price target on the stock. BTIG Research reaffirmed a “buy” rating and set a $175.00 price objective on shares of Guidewire Software in a report on Thursday, July 2nd. Wells Fargo & Company reduced their price objective on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. DA Davidson lowered their target price on shares of Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Finally, Royal Bank Of Canada dropped their target price on shares of Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and a consensus target price of $221.64.

Guidewire Software Profile

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.