M.D. Sass LLC purchased a new position in Guidewire Software, Inc. (NYSE:GWRE – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 55,208 shares of the technology company’s stock, valued at approximately $6,793,000. Guidewire Software comprises approximately 0.4% of M.D. Sass LLC’s holdings, making the stock its 28th largest position. M.D. Sass LLC owned 0.07% of Guidewire Software at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. American Trust grew its stake in Guidewire Software by 3.9% during the 3rd quarter. American Trust now owns 1,632 shares of the technology company’s stock valued at $375,000 after purchasing an additional 61 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of Guidewire Software by 1.7% during the third quarter. Vident Advisory LLC now owns 4,074 shares of the technology company’s stock worth $936,000 after purchasing an additional 70 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Guidewire Software by 18.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 505 shares of the technology company’s stock valued at $102,000 after buying an additional 78 shares during the last quarter. Castleark Management LLC increased its holdings in Guidewire Software by 1.6% in the 1st quarter. Castleark Management LLC now owns 5,180 shares of the technology company’s stock worth $775,000 after buying an additional 80 shares during the period. Finally, Cassaday & Co Wealth Management LLC increased its holdings in Guidewire Software by 9.9% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 1,085 shares of the technology company’s stock worth $218,000 after buying an additional 98 shares during the period.
Insider Activity
In other Guidewire Software news, insider James Winston King sold 1,684 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $130.64, for a total value of $219,997.76. Following the transaction, the insider directly owned 30,018 shares in the company, valued at $3,921,551.52. The trade was a 5.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President John P. Mullen sold 4,292 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $509,632.08. Following the completion of the transaction, the president owned 131,115 shares of the company’s stock, valued at $15,568,595.10. The trade was a 3.17% decrease in their ownership of the stock. 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. Insiders sold 30,193 shares of company stock valued at $3,908,106 over the last three months. 0.46% of the stock is currently owned by company insiders.
Guidewire Software Trading Up 3.5%
Guidewire Software (NYSE:GWRE – Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. The company had revenue of $372.54 million for 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 for the quarter was up 26.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. On average, sell-side analysts anticipate that Guidewire Software, Inc. will post 1.83 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages have commented on GWRE. Guggenheim began coverage on shares of Guidewire Software in a research note on Thursday, July 23rd. They set a “buy” rating and a $180.00 price objective for the company. Piper Sandler initiated coverage on shares of Guidewire Software in a research note on Monday, August 10th. They issued an “overweight” rating and a $210.00 price objective on the stock. BTIG Research restated a “buy” rating and set a $175.00 target price on shares of Guidewire Software in a research report on Thursday, July 2nd. Zacks Research lowered shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, DA Davidson cut their price target on Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $221.64.
View Our Latest Stock Report on Guidewire Software
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.
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