Oakcliff Capital Partners LP increased its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE – Free Report) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 158,683 shares of the technology company’s stock after acquiring an additional 14,500 shares during the quarter. Guidewire Software comprises 7.3% of Oakcliff Capital Partners LP’s portfolio, making the stock its 5th biggest holding. Oakcliff Capital Partners LP’s holdings in Guidewire Software were worth $19,526,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Guidewire Software by 547.3% in 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. Stephens Investment Management Group LLC raised its holdings in Guidewire Software by 3.0% in the 1st quarter. Stephens Investment Management Group LLC now owns 524,818 shares of the technology company’s stock valued at $78,492,000 after acquiring an additional 15,260 shares during the period. Geode Capital Management LLC raised its holdings in Guidewire Software by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company’s stock valued at $357,504,000 after acquiring an additional 145,924 shares during the period. Weiss Asset Management LP acquired a new stake in Guidewire Software during the first quarter worth approximately $6,087,000. Finally, Entropy Technologies LP bought a new stake in shares of Guidewire Software during the fourth quarter worth approximately $5,837,000.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. Zacks Research lowered Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a research report on Wednesday, June 3rd. BTIG Research reissued a “buy” rating and set a $175.00 target price on shares of Guidewire Software in a report on Thursday, July 2nd. Wells Fargo & Company decreased their price target on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Finally, 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 for the company. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and a consensus target price of $220.00.
Guidewire Software Stock Down 0.6%
Shares of GWRE opened at $204.62 on Tuesday. Guidewire Software, Inc. has a one year low of $102.30 and a one year high of $272.60. The firm has a 50 day simple moving average of $154.93 and a two-hundred day simple moving average of $144.76. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44. The company has a market cap of $17.04 billion, a P/E ratio of 110.61 and a beta of 0.92.
Guidewire Software (NYSE:GWRE – Get Free Report) last posted its quarterly earnings results 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 the consensus estimate of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The firm’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period last year, the company posted $0.88 EPS. Research analysts forecast that Guidewire Software, Inc. will post 1.83 EPS for the current fiscal year.
Insider Transactions at Guidewire Software
In other Guidewire Software news, insider James Winston King sold 1,684 shares of the business’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 transaction of $219,997.76. Following the sale, the insider directly owned 30,018 shares of the company’s stock, valued at $3,921,551.52. The trade was a 5.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael George Rosenbaum sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were 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 owned 187,776 shares of the company’s stock, valued at approximately $35,268,088.32. This trade represents a 0.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 45,893 shares of company stock worth $6,940,574. Insiders own 0.46% of the company’s stock.
Guidewire Software Company 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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