KLP Kapitalforvaltning AS Makes New Investment in Guidewire Software, Inc. (NYSE:GWRE)

KLP Kapitalforvaltning AS bought a new stake in Guidewire Software, Inc. (NYSE:GWRE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,500 shares of the technology company’s stock, valued at approximately $3,456,000.

Several other hedge funds and other institutional investors have also modified their holdings of GWRE. Sei Investments Co. boosted its holdings in shares of Guidewire Software by 1.2% during the fourth quarter. Sei Investments Co. now owns 362,183 shares of the technology company’s stock worth $61,057,000 after purchasing an additional 4,386 shares during the period. Summit Global Investments acquired a new stake in shares of Guidewire Software during the 4th quarter valued at $618,000. TD Private Client Wealth LLC purchased a new position in shares of Guidewire Software during the 4th quarter valued at $1,125,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Guidewire Software by 4.2% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 29,679 shares of the technology company’s stock worth $5,003,000 after acquiring an additional 1,195 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in shares of Guidewire Software by 3.7% during the fourth quarter. Whittier Trust Co. now owns 59,382 shares of the technology company’s stock worth $10,010,000 after acquiring an additional 2,126 shares in the last quarter.

Guidewire Software Trading Down 2.4 %

Guidewire Software stock opened at $193.58 on Thursday. Guidewire Software, Inc. has a 52 week low of $107.00 and a 52 week high of $219.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market capitalization of $16.24 billion, a PE ratio of 537.72, a PEG ratio of 37.21 and a beta of 1.31. The business’s 50-day simple moving average is $198.95 and its 200-day simple moving average is $188.37.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, March 6th. The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.44). Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. The business had revenue of $289.48 million during the quarter, compared to the consensus estimate of $285.74 million. Equities research analysts forecast that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Insider Activity at Guidewire Software

In related news, insider James Winston King sold 270 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $174.78, for a total value of $47,190.60. Following the completion of the transaction, the insider now directly owns 45,664 shares in the company, valued at approximately $7,981,153.92. This represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael George Rosenbaum sold 1,400 shares of Guidewire Software stock in a transaction on Monday, February 10th. The stock was sold at an average price of $214.68, for a total transaction of $300,552.00. Following the sale, the chief executive officer now owns 274,730 shares in the company, valued at $58,979,036.40. This represents a 0.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,180 shares of company stock worth $7,159,763 in the last ninety days. 0.48% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GWRE has been the topic of a number of recent research reports. DA Davidson reaffirmed a “buy” rating and issued a $210.00 target price on shares of Guidewire Software in a research report on Wednesday, December 4th. Royal Bank of Canada increased their price objective on Guidewire Software from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Robert W. Baird raised their price objective on shares of Guidewire Software from $230.00 to $236.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. The Goldman Sachs Group boosted their target price on shares of Guidewire Software from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Guidewire Software from $228.00 to $231.00 and gave the company an “overweight” rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $206.08.

Guidewire Software 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.