M&T Bank Corp Has $64.06 Million Holdings in Guidewire Software, Inc. $GWRE

M&T Bank Corp grew its stake in Guidewire Software, Inc. (NYSE:GWRE) by 4,507.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 318,675 shares of the technology company’s stock after buying an additional 311,759 shares during the quarter. M&T Bank Corp’s holdings in Guidewire Software were worth $64,057,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC grew its stake in shares of Guidewire Software by 24.6% in the 4th quarter. Evergreen Capital Management LLC now owns 4,113 shares of the technology company’s stock valued at $827,000 after purchasing an additional 813 shares during the period. Earned Wealth Advisors LLC grew its stake in shares of Guidewire Software by 12.9% in the 4th quarter. Earned Wealth Advisors LLC now owns 1,117 shares of the technology company’s stock valued at $225,000 after purchasing an additional 128 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Guidewire Software by 1.2% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 32,856 shares of the technology company’s stock valued at $6,176,000 after purchasing an additional 375 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Guidewire Software by 18.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 505 shares of the technology company’s stock valued at $102,000 after purchasing an additional 78 shares during the period. Finally, KBC Group NV grew its stake in shares of Guidewire Software by 10.7% in the 4th quarter. KBC Group NV now owns 2,334 shares of the technology company’s stock valued at $469,000 after purchasing an additional 226 shares during the period.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,200 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $139.75, for a total transaction of $167,700.00. Following the transaction, the chief executive officer owned 215,206 shares of the company’s stock, valued at approximately $30,075,038.50. This represents a 0.55% decrease in their position. The transaction was disclosed in a 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, President John P. Mullen sold 6,576 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $163.86, for a total value of $1,077,543.36. Following the transaction, the president directly owned 135,407 shares in the company, valued at approximately $22,187,791.02. This represents a 4.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 31,279 shares of company stock worth $4,867,874 over the last 90 days. Company insiders own 0.46% of the company’s stock.

Guidewire Software Stock Down 1.2%

NYSE GWRE opened at $141.34 on Wednesday. The firm has a market cap of $11.97 billion, a PE ratio of 64.25, a price-to-earnings-growth ratio of 6.17 and a beta of 1.05. Guidewire Software, Inc. has a one year low of $115.57 and a one year high of $272.60. The stock’s 50 day simple moving average is $143.87 and its 200 day simple moving average is $181.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.93 and a quick ratio of 2.93.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Thursday, March 5th. The technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.40. The business had revenue of $359.10 million for the quarter, compared to analyst estimates of $342.88 million. Guidewire Software had a return on equity of 13.44% and a net margin of 14.11%.Guidewire Software’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.51 EPS. As a group, sell-side analysts forecast that Guidewire Software, Inc. will post 1.84 earnings per share for the current fiscal year.

Guidewire Software declared that its board has initiated a stock repurchase program on Thursday, January 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Zacks Research upgraded Guidewire Software from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 13th. Stifel Nicolaus lowered their price objective on Guidewire Software from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. DA Davidson reiterated a “buy” rating and issued a $246.00 price objective on shares of Guidewire Software in a research note on Tuesday, March 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a research note on Thursday, January 22nd. Finally, Oppenheimer lowered their price objective on Guidewire Software from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.85.

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.