Oppenheimer Asset Management Inc. Invests $5.32 Million in Guidewire Software, Inc. $GWRE

Oppenheimer Asset Management Inc. purchased a new stake in shares of Guidewire Software, Inc. (NYSE:GWRE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,236 shares of the technology company’s stock, valued at approximately $5,320,000. Oppenheimer Asset Management Inc. owned about 0.05% of Guidewire Software at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its position in Guidewire Software by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company’s stock valued at $357,504,000 after buying an additional 145,924 shares during the last quarter. Stockbridge Partners LLC raised its position in shares of Guidewire Software by 39.0% during the fourth quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company’s stock worth $290,501,000 after acquiring an additional 405,850 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Guidewire Software by 3.6% during the fourth quarter. AQR Capital Management LLC now owns 1,316,817 shares of the technology company’s stock valued at $264,693,000 after acquiring an additional 45,289 shares during the period. Principal Financial Group Inc. boosted its holdings in Guidewire Software by 547.3% in the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock valued at $176,537,000 after acquiring an additional 997,992 shares during the last quarter. Finally, Capital World Investors bought a new position in Guidewire Software in the fourth quarter valued at about $202,405,000.

Guidewire Software Stock Down 3.9%

Shares of Guidewire Software stock opened at $175.55 on Friday. The business has a fifty day simple moving average of $138.77 and a 200 day simple moving average of $140.96. The stock has a market cap of $14.62 billion, a PE ratio of 94.89 and a beta of 0.92. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. Guidewire Software, Inc. has a 12 month low of $102.30 and a 12 month high of $272.60.

Guidewire Software (NYSE:GWRE) last released its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. The firm had revenue of $372.54 million for the quarter, compared to analyst estimates of $355.92 million. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The company’s quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Research analysts predict that Guidewire Software, Inc. will post 1.83 EPS for the current year.

Insider Activity

In related news, President John P. Mullen sold 4,292 shares of Guidewire Software stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total transaction of $509,632.08. Following the transaction, the president owned 131,115 shares of the company’s stock, valued at $15,568,595.10. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeffrey Elliott Cooper sold 1,348 shares of Guidewire Software stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $105.67, for a total transaction of $142,443.16. Following the transaction, the chief financial officer directly owned 62,119 shares in the company, valued at $6,564,114.73. The trade was a 2.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 30,193 shares of company stock valued at $3,854,478. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Friday, June 5th. Piper Sandler began coverage on shares of Guidewire Software in a research note on Monday, August 10th. They issued an “overweight” rating and a $210.00 target price on the stock. BTIG Research reiterated a “buy” rating and set a $175.00 price target on shares of Guidewire Software in a research report on Thursday, July 2nd. JPMorgan Chase & Co. dropped their price target on shares of Guidewire Software from $300.00 to $258.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group cut their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $220.21.

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.