Bamco Inc. NY Has $1.19 Billion Holdings in Guidewire Software, Inc. $GWRE

Bamco Inc. NY lowered its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,168,851 shares of the technology company’s stock after selling 420,669 shares during the period. Guidewire Software makes up 3.2% of Bamco Inc. NY’s investment portfolio, making the stock its 6th biggest holding. Bamco Inc. NY owned about 0.06% of Guidewire Software worth $1,188,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in GWRE. Root Financial Partners LLC acquired a new stake in shares of Guidewire Software in the 3rd quarter valued at about $29,000. Newbridge Financial Services Group Inc. bought a new stake in Guidewire Software in the 2nd quarter valued at about $30,000. Advisors Asset Management Inc. acquired a new position in Guidewire Software during the 1st quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its stake in Guidewire Software by 620.0% during 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 period. Finally, Hazlett Burt & Watson Inc. bought a new position in Guidewire Software in the third quarter worth approximately $35,000.

Insider Buying and Selling at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 4,757 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $158.72, for a total value of $755,031.04. Following the completion of the sale, the chief financial officer directly owned 67,996 shares of the company’s stock, valued at approximately $10,792,325.12. This represents a 6.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock in a transaction on Monday, March 9th. The stock was sold at an average price of $166.34, for a total transaction of $199,608.00. Following the transaction, the chief executive officer directly owned 227,143 shares in the company, valued at $37,782,966.62. This represents a 0.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 47,317 shares of company stock valued at $8,637,929 in the last quarter. 0.46% of the stock is currently owned by corporate insiders.

Guidewire Software Price Performance

GWRE stock opened at $160.56 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.48 and a current ratio of 2.93. The business has a 50-day simple moving average of $150.75 and a two-hundred day simple moving average of $198.96. The company has a market capitalization of $13.59 billion, a P/E ratio of 72.98, a price-to-earnings-growth ratio of 10.35 and a beta of 1.06. Guidewire Software, Inc. has a 52-week low of $120.37 and a 52-week high of $272.60.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, March 5th. The technology company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.40. Guidewire Software had a return on equity of 13.44% and a net margin of 14.11%.The company had revenue of $359.10 million for the quarter, compared to analyst estimates of $342.88 million. During the same quarter last year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. Research analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank Of Canada reduced their price objective on Guidewire Software from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Citizens Jmp reaffirmed a “market outperform” rating and set a $281.00 target price on shares of Guidewire Software in a research report on Wednesday, December 10th. Wells Fargo & Company cut their target price on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Wall Street Zen downgraded shares of Guidewire Software from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Finally, BTIG Research boosted their price target on shares of Guidewire Software from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Eleven equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.85.

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.