PCM Encore LLC Takes $463,000 Position in Guidewire Software, Inc. $GWRE

PCM Encore LLC acquired a new position in Guidewire Software, Inc. (NYSE:GWRE) during the second quarter, Holdings Channel.com reports. The firm acquired 3,764 shares of the technology company’s stock, valued at approximately $463,000.

Other institutional investors have also recently made changes to their positions in the company. Vise Technologies Inc. acquired a new position in Guidewire Software during the second quarter valued at $472,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Guidewire Software in the second quarter valued at $25,462,000. Diversify Advisory Services LLC acquired a new stake in Guidewire Software during the 2nd quarter worth about $563,000. M.D. Sass LLC purchased a new position in shares of Guidewire Software during the 2nd quarter valued at about $6,793,000. Finally, Meeder Advisory Services Inc. purchased a new position in shares of Guidewire Software during the 2nd quarter valued at about $288,000.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GWRE. Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Wells Fargo & Company dropped their target price on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Piper Sandler initiated coverage on Guidewire Software in a research report on Monday, August 10th. They set an “overweight” rating and a $210.00 price target for the company. JPMorgan Chase & Co. decreased their price target on Guidewire Software from $300.00 to $258.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada lowered their price objective on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Guidewire Software currently has a consensus rating of “Moderate Buy” and an average price target of $221.64.

Guidewire Software Stock Up 0.5%

GWRE opened at $182.11 on Friday. The company has a fifty day moving average of $143.28 and a two-hundred day moving average of $141.54. The stock has a market capitalization of $15.16 billion, a price-to-earnings ratio of 98.44 and a beta of 0.92. Guidewire Software, Inc. has a fifty-two week low of $102.30 and a fifty-two week high of $272.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44.

Guidewire Software (NYSE:GWRE) last posted 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. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The business had revenue of $372.54 million for the quarter, compared to analyst estimates of $355.92 million. During the same period in the prior year, the company posted $0.88 EPS. The company’s revenue for the quarter was up 26.9% on a year-over-year basis. On average, research analysts expect that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

Insiders Place Their Bets

In other Guidewire Software news, President John P. Mullen sold 14,400 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $185.00, for a total transaction of $2,664,000.00. Following the transaction, the president owned 116,715 shares in the company, valued at approximately $21,592,275. This represents a 10.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 that occurred on Thursday, July 9th. The shares were sold at an average price of $130.64, for a total value of $219,997.76. Following the completion of the sale, the insider directly owned 30,018 shares in the company, valued at approximately $3,921,551.52. The trade was a 5.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 44,593 shares of company stock worth $6,572,106. 0.46% of the stock is owned by company insiders.

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.