PNC Financial Services Group Inc. Acquires 11,749 Shares of Guidewire Software, Inc. $GWRE

PNC Financial Services Group Inc. lifted its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 168.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,719 shares of the technology company’s stock after purchasing an additional 11,749 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Guidewire Software were worth $2,800,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. American Trust grew its position in shares of Guidewire Software by 3.9% in the 3rd quarter. American Trust now owns 1,632 shares of the technology company’s stock valued at $375,000 after purchasing an additional 61 shares during the period. Vident Advisory LLC raised its holdings in Guidewire Software by 1.7% during the 3rd quarter. Vident Advisory LLC now owns 4,074 shares of the technology company’s stock worth $936,000 after buying an additional 70 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Guidewire Software by 18.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 505 shares of the technology company’s stock worth $102,000 after buying an additional 78 shares during the period. DMC Group LLC lifted its stake in Guidewire Software by 6.5% in the fourth quarter. DMC Group LLC now owns 1,595 shares of the technology company’s stock valued at $321,000 after buying an additional 98 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its stake in Guidewire Software by 9.9% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 1,085 shares of the technology company’s stock valued at $218,000 after buying an additional 98 shares in the last quarter.

Analyst Upgrades and Downgrades

GWRE has been the subject of several research analyst reports. Citizens Jmp reduced their price target on shares of Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a report on Friday, June 5th. BTIG Research reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Guidewire Software in a research report on Thursday, July 2nd. DA Davidson reduced their target price on shares of Guidewire Software from $246.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a research note on Wednesday, June 3rd. Finally, The Goldman Sachs Group lowered their target price on Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $221.00.

Insider Buying and Selling at Guidewire Software

In other news, insider James Winston King sold 1,684 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $130.64, for a total value of $219,997.76. Following the completion of the transaction, the insider owned 30,018 shares in the company, valued at $3,921,551.52. This trade represents a 5.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey Elliott Cooper sold 2,594 shares of Guidewire Software stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $308,011.56. Following the completion of the sale, the chief financial officer directly owned 63,467 shares in the company, valued at approximately $7,536,071.58. This represents a 3.93% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 30,193 shares of company stock valued at $3,797,922. Corporate insiders own 0.46% of the company’s stock.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $159.15 on Wednesday. Guidewire Software, Inc. has a 12 month low of $102.30 and a 12 month high of $272.60. The company’s fifty day simple moving average is $133.50 and its 200-day simple moving average is $140.90. The firm has a market cap of $13.25 billion, a PE ratio of 86.02 and a beta of 0.95. 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 (NYSE:GWRE) last released its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, beating 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 business had revenue of $372.54 million during the quarter, compared to the consensus estimate of $355.92 million. During the same quarter last year, the firm earned $0.88 earnings per share. The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year. Equities research analysts expect that Guidewire Software, Inc. will post 1.83 EPS for the current fiscal year.

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.