Vanguard Group Inc. Grows Holdings in Guidewire Software, Inc. $GWRE

Vanguard Group Inc. boosted its position in Guidewire Software, Inc. (NYSE:GWRE) by 1.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,039,377 shares of the technology company’s stock after purchasing an additional 116,726 shares during the period. Vanguard Group Inc. owned about 10.63% of Guidewire Software worth $2,077,791,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GWRE. Advisors Asset Management Inc. purchased a new stake in shares of Guidewire Software during the first quarter valued at approximately $25,000. Root Financial Partners LLC bought a new position in Guidewire Software in the 3rd quarter valued at $29,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Guidewire Software during the 2nd quarter valued at $30,000. Westside Investment Management Inc. bought a new stake in shares of Guidewire Software during the 2nd quarter worth $32,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Guidewire Software by 620.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 144 shares of the technology company’s stock worth $34,000 after buying an additional 124 shares during the last quarter.

Insider Activity at Guidewire Software

In related news, insider James Winston King sold 1,860 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $195.00, for a total value of $362,700.00. Following the transaction, the insider directly owned 33,702 shares in the company, valued at approximately $6,571,890. This represents a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael George Rosenbaum sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $127.00, for a total transaction of $152,400.00. Following the completion of the sale, the chief executive officer directly owned 230,743 shares in the company, valued at $29,304,361. This represents a 0.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 45,960 shares of company stock valued at $8,767,044. Company insiders own 0.46% of the company’s stock.

Guidewire Software Price Performance

Shares of NYSE:GWRE opened at $128.73 on Friday. The company has a 50 day moving average of $167.22 and a 200 day moving average of $206.33. The stock has a market cap of $10.94 billion, a P/E ratio of 122.60, a P/E/G ratio of 8.30 and a beta of 1.06. Guidewire Software, Inc. has a 12 month low of $120.37 and a 12 month high of $272.60. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.44.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. The business had revenue of $332.64 million for the quarter, compared to analysts’ expectations of $316.62 million. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 EPS. As a group, sell-side analysts forecast that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Guidewire Software announced that its board has initiated a share repurchase program on Thursday, January 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have commented on GWRE shares. Wall Street Zen lowered shares of Guidewire Software from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Citigroup lifted their price target on shares of Guidewire Software from $242.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Wells Fargo & Company dropped their price objective on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Citizens Jmp reissued a “market outperform” rating and issued a $281.00 target price on shares of Guidewire Software in a research report on Wednesday, December 10th. Finally, BTIG Research lowered their target price on Guidewire Software from $225.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday. Eleven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $259.77.

About Guidewire Software

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.