Wasatch Advisors LP Purchases 65,628 Shares of Guidewire Software, Inc. $GWRE

Wasatch Advisors LP increased its position in Guidewire Software, Inc. (NYSE:GWRE) by 8.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 867,117 shares of the technology company’s stock after acquiring an additional 65,628 shares during the quarter. Wasatch Advisors LP’s holdings in Guidewire Software were worth $106,699,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GWRE. Advisors Asset Management Inc. purchased a new stake in Guidewire Software during the first quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Guidewire Software in the third quarter worth about $29,000. Flagship Harbor Advisors LLC bought a new stake in shares of Guidewire Software in the fourth quarter valued at approximately $36,000. Leonteq Securities AG bought a new stake in shares of Guidewire Software in the first quarter valued at approximately $36,000. Finally, Bogart Wealth LLC lifted its stake in shares of Guidewire Software by 127.8% during the 1st quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock valued at $37,000 after buying an additional 138 shares in the last quarter.

Guidewire Software Stock Performance

Guidewire Software stock opened at $176.48 on Wednesday. The firm’s 50 day simple moving average is $137.01 and its 200 day simple moving average is $140.44. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $14.69 billion, a PE ratio of 95.39 and a beta of 0.92. Guidewire Software, Inc. has a 1-year low of $102.30 and a 1-year high of $272.60.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.74 by $0.08. The firm had revenue of $372.54 million during 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 business’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. As a group, analysts expect that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider James Winston King sold 1,684 shares of Guidewire Software stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $130.64, for a total transaction of $219,997.76. Following the completion of the sale, the insider owned 30,018 shares in the company, valued at approximately $3,921,551.52. This trade represents a 5.31% decrease in their position. The sale 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, President John P. Mullen sold 4,292 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $509,632.08. Following the transaction, the president directly owned 131,115 shares of the company’s stock, valued at $15,568,595.10. The trade was a 3.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 30,193 shares of company stock worth $3,854,478. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on GWRE shares. The Goldman Sachs Group cut their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a report on Friday, June 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. Guggenheim initiated coverage on Guidewire Software in a research report on Thursday, July 23rd. They set a “buy” rating and a $180.00 target price on the stock. Royal Bank Of Canada cut their price target on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Finally, DA Davidson reduced their price target on Guidewire Software from $246.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $220.21.

Guidewire Software 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.