Vanguard Group Inc. cut its stake in Guidewire Software Inc (NYSE:GWRE) by 0.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 5,052,656 shares of the company’s stock after selling 32,295 shares during the period. Vanguard Group Inc. owned approximately 6.97% of Guidewire Software worth $312,052,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of GWRE. Bank of Montreal Can purchased a new position in Guidewire Software during the second quarter valued at approximately $159,000. Societe Generale bought a new position in Guidewire Software during the second quarter valued at about $200,000. Murphy Capital Management Inc. bought a new position in Guidewire Software during the second quarter valued at about $228,000. Calvert Investment Management Inc. bought a new position in Guidewire Software during the second quarter valued at about $235,000. Finally, BlackRock Inc. boosted its position in Guidewire Software by 113.7% in the first quarter. BlackRock Inc. now owns 4,929 shares of the company’s stock valued at $269,000 after buying an additional 2,623 shares during the period.
Shares of Guidewire Software Inc (NYSE:GWRE) opened at 59.71 on Friday. Guidewire Software Inc has a 12 month low of $42.32 and a 12 month high of $64.78. The stock has a market cap of $4.36 billion and a P/E ratio of 298.55. The company has a 50 day moving average of $61.03 and a 200 day moving average of $59.31.
Guidewire Software (NYSE:GWRE) last announced its earnings results on Wednesday, September 7th. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.07. The company earned $141.18 million during the quarter, compared to the consensus estimate of $136.09 million. During the same period in the prior year, the firm posted $0.35 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. Equities research analysts expect that Guidewire Software Inc will post $0.76 earnings per share for the current fiscal year.
Several research firms have recently issued reports on GWRE. JPMorgan Chase & Co. increased their price objective on shares of Guidewire Software from $68.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, September 8th. Zacks Investment Research upgraded shares of Guidewire Software from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective for the company in a report on Wednesday, September 7th. JMP Securities reiterated a “hold” rating on shares of Guidewire Software in a report on Thursday, September 8th. Deutsche Bank AG reiterated a “buy” rating on shares of Guidewire Software in a report on Thursday, September 8th. Finally, TheStreet upgraded shares of Guidewire Software from a “hold” rating to a “buy” rating in a report on Wednesday, September 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $69.38.
In other news, CEO Marcus Ryu sold 20,000 shares of Guidewire Software stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $61.45, for a total transaction of $1,229,000.00. Following the completion of the sale, the chief executive officer now owns 20,000 shares in the company, valued at approximately $1,229,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Priscilla Hung sold 3,179 shares of Guidewire Software stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $58.42, for a total transaction of $185,717.18. Following the sale, the insider now owns 3,179 shares of the company’s stock, valued at approximately $185,717.18. The disclosure for this sale can be found here.
Guidewire Software Company Profile
Guidewire Software, Inc is a provider of software products for property and casualty (P&C) insurers. The Company’s software serves as a technology platform for P&C insurance carriers. Its platform consists of three products: core transaction processing, data management and analytics, and digital engagement.
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