CenterBook Partners LP purchased a new stake in Guidewire Software, Inc. (NYSE:GWRE – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,044 shares of the technology company’s stock, valued at approximately $862,000.
Several other hedge funds have also recently modified their holdings of GWRE. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Guidewire Software during the third quarter valued at approximately $28,000. Fiduciary Financial Advisors purchased a new position in Guidewire Software during the second quarter valued at approximately $29,000. Legacies Wealth LLC bought a new position in Guidewire Software in the third quarter worth approximately $38,000. Silvant Capital Management LLC bought a new position in Guidewire Software in the second quarter worth approximately $33,000. Finally, IFP Advisors Inc raised its stake in Guidewire Software by 129.2% in the third quarter. IFP Advisors Inc now owns 330 shares of the technology company’s stock worth $47,000 after buying an additional 186 shares in the last quarter.
Guidewire Software Stock Down 3.1%
Shares of Guidewire Software stock opened at $155.78 on Wednesday. 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 company has a market cap of $12.87 billion, a P/E ratio of 95.57 and a beta of 1.01. The firm’s 50 day moving average price is $162.35 and its 200-day moving average price is $149.30. Guidewire Software, Inc. has a 52-week low of $102.30 and a 52-week high of $229.85.
Guidewire Software (NYSE:GWRE – Get Free Report) last announced its earnings results on Thursday, September 3rd. The technology company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.06. The company had revenue of $411.09 million during the quarter, compared to the consensus estimate of $402.61 million. Guidewire Software had a net margin of 9.44% and a return on equity of 12.66%. Guidewire Software’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the firm earned $0.84 earnings per share. On average, sell-side analysts predict that Guidewire Software, Inc. will post 2.45 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Friday, September 4th. Citigroup lifted their price target on Guidewire Software from $137.00 to $181.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Citizens Jmp reissued a “market outperform” rating and issued a $220.00 price target on shares of Guidewire Software in a research report on Friday, September 4th. Piper Sandler restated an “overweight” rating and set a $210.00 price objective on shares of Guidewire Software in a research note on Friday, September 4th. Finally, JPMorgan Chase & Co. decreased their price objective on Guidewire Software from $300.00 to $258.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Guidewire Software presently has a consensus rating of “Moderate Buy” and an average target price of $216.23.
Insider Buying and Selling at Guidewire Software
In related news, CFO Jeffrey Cooper sold 23,234 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $144.47, for a total transaction of $3,356,615.98. Following the transaction, the chief financial officer directly owned 95,361 shares in the company, valued at $13,776,803.67. The trade was a 19.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James King sold 11,814 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $144.47, for a total value of $1,706,768.58. Following the transaction, the insider owned 45,939 shares in the company, valued at approximately $6,636,807.33. This trade represents a 20.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 209,135 shares of company stock valued at $31,764,329. Corporate insiders own 0.50% of the company’s stock.
About Guidewire Software
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.
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