Route One Investment Company L.P. Buys New Holdings in Guidewire Software, Inc. $GWRE

Route One Investment Company L.P. purchased a new position in shares of Guidewire Software, Inc. (NYSE:GWRE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,849,364 shares of the technology company’s stock, valued at approximately $227,564,000. Guidewire Software comprises about 9.1% of Route One Investment Company L.P.’s portfolio, making the stock its 3rd biggest position. Route One Investment Company L.P. owned about 2.22% of Guidewire Software at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Advisors Asset Management Inc. purchased a new position in shares of Guidewire Software in the first quarter valued at $25,000. Fiduciary Financial Advisors purchased a new stake in Guidewire Software during the 2nd quarter worth $29,000. Measured Wealth Private Client Group LLC purchased a new stake in Guidewire Software during the 3rd quarter worth $29,000. Silvant Capital Management LLC acquired a new position in Guidewire Software in the 2nd quarter worth $33,000. Finally, Leonteq Securities AG acquired a new position in Guidewire Software in the 1st quarter worth $36,000.

Guidewire Software Stock Performance

GWRE stock opened at $188.77 on Wednesday. The stock’s 50 day simple moving average is $147.47 and its 200 day simple moving average is $142.73. Guidewire Software, Inc. has a 12-month low of $102.30 and a 12-month high of $272.60. The firm has a market cap of $15.72 billion, a P/E ratio of 102.04 and a beta of 0.92. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The company had revenue of $372.54 million for the quarter, compared to analysts’ expectations of $355.92 million. During the same period in the prior year, the company earned $0.88 earnings per share. The firm’s revenue was up 26.9% compared to the same quarter last year. As a group, equities research analysts predict that Guidewire Software, Inc. will post 1.83 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GWRE. DA Davidson lowered their target price on Guidewire Software from $246.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Citizens Jmp cut their price target on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a research note on Friday, June 5th. Piper Sandler initiated coverage on Guidewire Software in a report on Monday, August 10th. They issued an “overweight” rating and a $210.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research note on Wednesday, June 3rd. Finally, The Goldman Sachs Group dropped their price objective on 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $221.64.

Insider Buying and Selling

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,200 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $187.82, for a total value of $225,384.00. Following the transaction, the chief executive officer owned 187,776 shares of the company’s stock, valued at $35,268,088.32. This trade represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Winston King sold 1,684 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $130.64, for a total value of $219,997.76. Following the transaction, the insider directly owned 30,018 shares of the company’s stock, valued at $3,921,551.52. This trade represents a 5.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 44,593 shares of company stock worth $6,631,278 over the last quarter. 0.46% of the stock is owned by company insiders.

Guidewire Software Company 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.