Wasatch Advisors LP Purchases 179,945 Shares of Guidewire Software, Inc. $GWRE

Wasatch Advisors LP grew its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 29.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 801,489 shares of the technology company’s stock after buying an additional 179,945 shares during the quarter. Wasatch Advisors LP’s holdings in Guidewire Software were worth $119,871,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new stake in Guidewire Software during the 1st quarter worth approximately $25,000. Measured Wealth Private Client Group LLC bought a new position in Guidewire Software in the 3rd quarter valued at $29,000. Flagship Harbor Advisors LLC bought a new position in Guidewire Software in the 4th quarter valued at $36,000. Harbour Investments Inc. raised its position in Guidewire Software by 83.0% in the 4th quarter. Harbour Investments Inc. now owns 247 shares of the technology company’s stock valued at $50,000 after purchasing an additional 112 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its stake in Guidewire Software by 82.4% in the third quarter. Clearstead Advisors LLC now owns 270 shares of the technology company’s stock worth $62,000 after purchasing an additional 122 shares in the last quarter.

Guidewire Software Stock Performance

Shares of NYSE:GWRE opened at $121.10 on Friday. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 65.46 and a beta of 0.93. The firm’s 50 day simple moving average is $132.62 and its 200 day simple moving average is $150.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44. Guidewire Software, Inc. has a fifty-two week low of $102.30 and a fifty-two week high of $272.60.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. The firm had revenue of $372.54 million during the quarter, compared to analysts’ expectations of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The business’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 earnings per share. As a group, sell-side analysts forecast that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

Analyst Ratings Changes

GWRE has been the subject of a number of research reports. Stifel Nicolaus lowered their target price on Guidewire Software from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, June 5th. BTIG Research reduced their price target on shares of Guidewire Software from $200.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday. Wells Fargo & Company decreased their price objective on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, The Goldman Sachs Group dropped their target price on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $221.36.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 1,348 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $105.67, for a total value of $142,443.16. Following the completion of the transaction, the chief financial officer directly owned 62,119 shares of the company’s stock, valued at approximately $6,564,114.73. The trade was a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Winston King sold 999 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $118,621.26. Following the completion of the sale, the insider owned 31,702 shares of the company’s stock, valued at $3,764,295.48. This trade represents a 3.05% decrease in their ownership of the stock. 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. Insiders have sold a total of 29,709 shares of company stock worth $3,740,332 in the last three months. 0.46% of the stock is owned by insiders.

About Guidewire Software

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.