Guidewire Software, Inc. $GWRE Shares Newly Bought by CenterBook Partners LP

CenterBook Partners LP bought a new stake in shares of Guidewire Software, Inc. (NYSE:GWRE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,044 shares of the technology company’s stock, valued at approximately $862,000.

A number of other institutional investors have also recently made changes to their positions in the business. Principal Financial Group Inc. raised its position in Guidewire Software by 547.3% during the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock valued at $176,537,000 after purchasing an additional 997,992 shares during the period. Weiss Asset Management LP bought a new stake in shares of Guidewire Software in the 1st quarter valued at approximately $6,087,000. PNC Financial Services Group Inc. boosted its holdings in shares of Guidewire Software by 168.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 18,719 shares of the technology company’s stock worth $2,800,000 after purchasing an additional 11,749 shares during the period. Bamco Inc. NY purchased a new position in shares of Guidewire Software in the 2nd quarter worth approximately $1,106,768,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Guidewire Software in the 2nd quarter worth approximately $25,462,000.

Guidewire Software Price Performance

GWRE opened at $155.78 on Wednesday. The business has a fifty day moving average of $162.35 and a 200 day moving average of $149.30. Guidewire Software, Inc. has a 52-week low of $102.30 and a 52-week high of $229.85. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.57. The stock has a market cap of $12.87 billion, a P/E ratio of 95.57 and a beta of 1.01.

Guidewire Software (NYSE:GWRE) last released its earnings results on Thursday, September 3rd. The technology company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.06. The business had revenue of $411.09 million during the quarter, compared to the consensus estimate of $402.61 million. Guidewire Software had a return on equity of 12.66% and a net margin of 9.44%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. As a group, sell-side analysts anticipate that Guidewire Software, Inc. will post 2.45 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research report on Monday, August 31st. DA Davidson restated a “buy” rating and issued a $222.00 price target on shares of Guidewire Software in a research report on Friday, October 2nd. Citizens Jmp reaffirmed a “market outperform” rating and set a $220.00 price objective on shares of Guidewire Software in a research note on Friday, September 4th. Wells Fargo & Company boosted their price objective on shares of Guidewire Software from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research note on Friday, September 4th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Guidewire Software presently has an average rating of “Moderate Buy” and an average price target of $216.23.

Insiders Place Their Bets

In other news, CAO David Peterson sold 2,500 shares of Guidewire Software stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $200.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief accounting officer owned 9,787 shares of the company’s stock, valued at approximately $1,957,400. The trade was a 20.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President John P. Mullen sold 39,683 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $144.47, for a total value of $5,733,003.01. Following the completion of the sale, the president owned 183,647 shares of the company’s stock, valued at $26,531,482.09. The trade was a 17.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 209,135 shares of company stock worth $31,764,329. 0.50% of the stock is owned by company insiders.

Guidewire Software Company Profile

Guidewire Software develops software for property and casualty insurance companies. Its products support core insurance operations, including policy administration, billing and claims management, as well as data analytics and digital customer services. The company offers its applications through Guidewire Cloud and provides related implementation and support services. Its platform includes products such as PolicyCenter, BillingCenter and ClaimCenter, designed to help insurers manage workflows and modernize their technology systems.