Hsbc Holdings PLC Boosts Position in Guidewire Software, Inc. $GWRE

Hsbc Holdings PLC grew its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 100.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 14,479 shares of the technology company’s stock after acquiring an additional 7,242 shares during the period. Hsbc Holdings PLC’s holdings in Guidewire Software were worth $2,164,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GWRE. Advisors Asset Management Inc. bought a new position in shares of Guidewire Software in the first quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC bought a new stake in Guidewire Software during the third quarter valued at approximately $29,000. Flagship Harbor Advisors LLC purchased a new position in Guidewire Software in the fourth quarter worth $36,000. Leonteq Securities AG bought a new position in shares of Guidewire Software during the 1st quarter valued at about $36,000. Finally, Bogart Wealth LLC grew its position in Guidewire Software by 127.8% during the first quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock valued at $37,000 after acquiring an additional 138 shares during the last quarter.

Insider Buying and Selling

In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,830 shares of Guidewire Software stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $692,254.20. Following the completion of the transaction, the chief executive officer owned 199,776 shares in the company, valued at approximately $23,721,402.24. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Winston King sold 1,684 shares of Guidewire Software stock in a transaction 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 owned 30,018 shares of the company’s stock, valued at $3,921,551.52. The trade was a 5.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,993 shares of company stock worth $3,627,150 in the last 90 days. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

GWRE has been the topic of a number of analyst reports. Royal Bank Of Canada decreased their price target on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Citizens Jmp lowered 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. Guggenheim assumed coverage on shares of Guidewire Software in a research report on Thursday. They set a “buy” rating and a $180.00 price target for the company. The Goldman Sachs Group cut their price target 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. Finally, Zacks Research downgraded shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $221.00.

Guidewire Software Trading Up 0.1%

NYSE:GWRE opened at $138.34 on Monday. Guidewire Software, Inc. has a one year low of $102.30 and a one year high of $272.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44. The company’s 50-day simple moving average is $132.87 and its 200 day simple moving average is $141.37. The firm has a market capitalization of $11.52 billion, a P/E ratio of 74.78 and a beta of 0.95.

Guidewire Software (NYSE:GWRE) last announced 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 business’s revenue for the quarter was up 26.9% on a year-over-year basis. As a group, analysts forecast 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.