M.D. Sass LLC Grows Position in Guidewire Software, Inc. $GWRE

M.D. Sass LLC boosted its position in Guidewire Software, Inc. (NYSE:GWRE) by 71.5% during the 1st quarter, Holdings Channel reports. The fund owned 55,208 shares of the technology company’s stock after acquiring an additional 23,022 shares during the quarter. Guidewire Software makes up 0.6% of M.D. Sass LLC’s portfolio, making the stock its 24th biggest holding. M.D. Sass LLC’s holdings in Guidewire Software were worth $8,257,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new stake in shares of Guidewire Software in the 1st quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Guidewire Software during the 3rd quarter worth $29,000. Flagship Harbor Advisors LLC acquired a new position in shares of Guidewire Software during the fourth quarter worth $36,000. Leonteq Securities AG acquired a new position in shares of Guidewire Software during the first quarter worth $36,000. Finally, Bogart Wealth LLC grew its stake in shares of Guidewire Software by 127.8% during the first quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock worth $37,000 after purchasing an additional 138 shares in the last quarter.

Guidewire Software Trading Down 2.0%

NYSE GWRE opened at $131.33 on Friday. The firm’s fifty day moving average price is $132.71 and its 200 day moving average price is $141.71. Guidewire Software, Inc. has a 12 month low of $102.30 and a 12 month 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 has a market capitalization of $10.93 billion, a price-to-earnings ratio of 70.99 and a beta of 0.95.

Guidewire Software (NYSE:GWRE) last announced its quarterly 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 firm had revenue of $372.54 million during the quarter, compared to analysts’ expectations of $355.92 million. During the same period in the previous year, the company earned $0.88 earnings per share. Guidewire Software’s quarterly revenue was up 26.9% compared to the same quarter last year. On average, sell-side analysts expect that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GWRE has been the topic of a number of analyst reports. Oppenheimer cut their price target on Guidewire Software from $250.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, May 18th. The Goldman Sachs Group lowered their price objective on Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Stifel Nicolaus dropped their price objective on Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Zacks Research lowered Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Citizens Jmp decreased their target price on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a research note on Friday, June 5th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $221.00.

Insider Buying and Selling at Guidewire Software

In other news, CAO David Franklin Peterson sold 246 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $29,210.04. Following the completion of the sale, the chief accounting officer directly owned 12,287 shares of the company’s stock, valued at approximately $1,458,958.38. The trade was a 1.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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, CFO Jeffrey Elliott Cooper sold 1,348 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $105.67, for a total value of $142,443.16. Following the completion of the sale, the chief financial officer directly owned 62,119 shares of the company’s stock, valued at approximately $6,564,114.73. This trade represents a 2.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 30,193 shares of company stock valued at $3,792,858. 0.46% of the stock is owned by insiders.

Guidewire Software Company 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.