104,741 Shares in Guidewire Software, Inc. $GWRE Acquired by Norges Bank

Norges Bank purchased a new position in shares of Guidewire Software, Inc. (NYSE:GWRE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 104,741 shares of the technology company’s stock, valued at approximately $24,661,000.

A number of other large investors also recently modified their holdings of the company. Brooklyn Investment Group lifted its position in shares of Guidewire Software by 38.3% during the 1st quarter. Brooklyn Investment Group now owns 224 shares of the technology company’s stock worth $42,000 after purchasing an additional 62 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Guidewire Software by 40.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 238 shares of the technology company’s stock valued at $56,000 after buying an additional 68 shares during the last quarter. Poinciana Advisors Group LLC increased its holdings in Guidewire Software by 5.9% in the second quarter. Poinciana Advisors Group LLC now owns 1,247 shares of the technology company’s stock valued at $294,000 after buying an additional 70 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Guidewire Software by 4.1% in the second quarter. Sequoia Financial Advisors LLC now owns 1,835 shares of the technology company’s stock valued at $432,000 after buying an additional 73 shares in the last quarter. Finally, Entropy Technologies LP lifted its holdings in Guidewire Software by 3.6% during the 2nd quarter. Entropy Technologies LP now owns 2,161 shares of the technology company’s stock worth $509,000 after buying an additional 75 shares during the last quarter.

Insider Activity at Guidewire Software

In other news, insider James Winston King sold 7,162 shares of the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $248.82, for a total transaction of $1,782,048.84. Following the completion of the sale, the insider owned 38,615 shares in the company, valued at approximately $9,608,184.30. This represents a 15.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael George Rosenbaum sold 30,317 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $242.87, for a total value of $7,363,089.79. Following the completion of the transaction, the chief executive officer owned 264,958 shares in the company, valued at $64,350,349.46. This trade represents a 10.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 112,342 shares of company stock worth $27,043,386 in the last three months. Company insiders own 0.46% of the company’s stock.

Guidewire Software Trading Down 5.0%

GWRE opened at $200.10 on Tuesday. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.44. Guidewire Software, Inc. has a 52 week low of $165.08 and a 52 week high of $272.60. The business’s 50 day moving average is $227.61 and its two-hundred day moving average is $229.10. The firm has a market cap of $17.01 billion, a price-to-earnings ratio of 190.57, a price-to-earnings-growth ratio of 12.94 and a beta of 1.08.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. The business had revenue of $332.64 million during the quarter, compared to the consensus estimate of $316.62 million. Guidewire Software had a return on equity of 10.15% and a net margin of 7.23%.The company’s revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 earnings per share. On average, research analysts predict that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Guidewire Software from $270.00 to $300.00 and gave the company a “buy” rating in a report on Friday, September 5th. Wells Fargo & Company upped their price target on Guidewire Software from $265.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Raymond James Financial reiterated an “outperform” rating and issued a $275.00 price target (up from $255.00) on shares of Guidewire Software in a research note on Friday, September 5th. Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Finally, Wall Street Zen cut shares of Guidewire Software from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Guidewire Software has an average rating of “Moderate Buy” and an average target price of $272.25.

Guidewire Software Company Profile

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.