Wasatch Advisors LP Grows Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Wasatch Advisors LP increased its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,874,758 shares of the technology company’s stock after purchasing an additional 115,600 shares during the quarter. Guidewire Software accounts for approximately 1.8% of Wasatch Advisors LP’s holdings, making the stock its 11th biggest position. Wasatch Advisors LP’s holdings in Guidewire Software were worth $335,513,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Edmonds Duncan Registered Investment Advisors LLC purchased a new stake in shares of Guidewire Software in the first quarter valued at about $309,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Guidewire Software in the first quarter valued at about $4,112,000. Banque Cantonale Vaudoise boosted its holdings in Guidewire Software by 78.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 498 shares of the technology company’s stock valued at $58,000 after purchasing an additional 219 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in Guidewire Software during the 4th quarter worth approximately $204,000. Finally, Nomura Holdings Inc. raised its stake in shares of Guidewire Software by 11.1% during the 4th quarter. Nomura Holdings Inc. now owns 20,000 shares of the technology company’s stock worth $2,181,000 after buying an additional 2,000 shares in the last quarter.

Insider Transactions at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 5,582 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total transaction of $751,002.28. Following the transaction, the chief executive officer now directly owns 239,793 shares in the company, valued at $32,261,750.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Jeffrey Elliott Cooper sold 3,017 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total transaction of $405,907.18. Following the completion of the sale, the chief financial officer now directly owns 63,479 shares of the company’s stock, valued at approximately $8,540,464.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael George Rosenbaum sold 5,582 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total value of $751,002.28. Following the sale, the chief executive officer now owns 239,793 shares of the company’s stock, valued at $32,261,750.22. The disclosure for this sale can be found here. Insiders have sold 13,064 shares of company stock worth $1,710,361 over the last quarter. 0.38% of the stock is currently owned by insiders.

Guidewire Software Stock Performance

GWRE stock traded down $0.14 during trading on Tuesday, hitting $138.85. The stock had a trading volume of 427,890 shares, compared to its average volume of 633,887. The stock has a market cap of $11.48 billion, a price-to-earnings ratio of -1,067.99 and a beta of 1.19. The company’s 50 day moving average price is $124.07 and its two-hundred day moving average price is $117.06. Guidewire Software, Inc. has a 1-year low of $74.03 and a 1-year high of $139.91.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Tuesday, June 4th. The technology company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.14. Guidewire Software had a negative net margin of 1.11% and a negative return on equity of 1.19%. The business had revenue of $240.68 million during the quarter, compared to analyst estimates of $231.46 million. As a group, sell-side analysts forecast that Guidewire Software, Inc. will post -0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GWRE shares. Stifel Nicolaus upped their price objective on Guidewire Software from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Royal Bank of Canada upped their price target on shares of Guidewire Software from $130.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Wells Fargo & Company raised their price objective on shares of Guidewire Software from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. Robert W. Baird boosted their price objective on shares of Guidewire Software from $140.00 to $152.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. Finally, Oppenheimer increased their target price on shares of Guidewire Software from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $133.08.

Guidewire Software Company Profile

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.