VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Position in Guidewire Software, Inc. $GWRE

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Guidewire Software, Inc. (NYSE:GWRE) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 9,066 shares of the technology company’s stock, valued at approximately $1,116,000.

Other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new position in shares of Guidewire Software during the 1st quarter valued at $25,000. Amundi lifted its stake in Guidewire Software by 703.0% in the second quarter. Amundi now owns 36,093 shares of the technology company’s stock worth $8,220,000 after purchasing an additional 31,598 shares during the last quarter. Jump Financial LLC purchased a new stake in Guidewire Software during the second quarter valued at about $305,000. Bank of Nova Scotia boosted its position in Guidewire Software by 30.9% during the second quarter. Bank of Nova Scotia now owns 2,024 shares of the technology company’s stock valued at $477,000 after buying an additional 478 shares during the period. Finally, NewEdge Advisors LLC grew its stake in shares of Guidewire Software by 30.6% during the second quarter. NewEdge Advisors LLC now owns 4,911 shares of the technology company’s stock valued at $1,156,000 after buying an additional 1,152 shares during the last quarter.

Insider Buying and Selling at Guidewire Software

In other news, CAO David Peterson sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $200.00, for a total transaction of $500,000.00. Following the transaction, the chief accounting officer directly owned 9,787 shares of the company’s stock, valued at approximately $1,957,400. The trade was a 20.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey Cooper sold 2,594 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $308,011.56. Following the transaction, the chief financial officer owned 63,467 shares of the company’s stock, valued at approximately $7,536,071.58. This represents a 3.93% decrease in their position. 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 47,093 shares of company stock worth $7,215,782 over the last three months. 0.46% of the stock is owned by corporate insiders.

Guidewire Software Price Performance

GWRE stock opened at $140.87 on Friday. The firm’s 50-day moving average price is $162.96 and its two-hundred day moving average price is $147.08. Guidewire Software, Inc. has a 12-month low of $102.30 and a 12-month high of $255.91. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 86.42 and a beta of 0.97. The company has a current ratio of 1.79, a quick ratio of 2.44 and a debt-to-equity ratio of 0.57.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, September 3rd. The technology company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The company had revenue of $411.09 million during the quarter, compared to analyst estimates of $402.61 million. Guidewire Software had a net margin of 9.44% and a return on equity of 12.66%. Guidewire Software’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. As a group, equities analysts predict that Guidewire Software, Inc. will post 2.46 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on GWRE. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a report on Monday, August 31st. Oppenheimer increased their target price on Guidewire Software from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, September 4th. The Goldman Sachs Group reduced their price target on Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $215.00 price target on shares of Guidewire Software in a research note on Friday, September 4th. Finally, BTIG Research boosted their price objective on Guidewire Software from $175.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Guidewire Software has a consensus rating of “Moderate Buy” and an average target price of $216.23.

Guidewire Software Profile

Guidewire Software, Inc (NYSE: GWRE) provides cloud-based software and technology services for the property and casualty insurance industry. Its solutions help insurers manage core operations, modernize legacy systems, improve customer engagement and use data to support underwriting and claims decisions.

The company’s principal platform, InsuranceSuite, includes applications such as PolicyCenter for policy administration, BillingCenter for billing and payments, and ClaimCenter for claims management.