Capital World Investors Buys New Holdings in Guidewire Software, Inc. $GWRE

Capital World Investors bought a new stake in Guidewire Software, Inc. (NYSE:GWRE) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,006,940 shares of the technology company’s stock, valued at approximately $202,405,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in Guidewire Software by 4.6% in the third quarter. IFP Advisors Inc now owns 1,104 shares of the technology company’s stock valued at $254,000 after acquiring an additional 49 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Guidewire Software by 9.3% during the third quarter. Smartleaf Asset Management LLC now owns 624 shares of the technology company’s stock worth $145,000 after purchasing an additional 53 shares in the last quarter. American Trust raised its holdings in Guidewire Software by 3.9% during the third quarter. American Trust now owns 1,632 shares of the technology company’s stock worth $375,000 after purchasing an additional 61 shares in the last quarter. Vident Advisory LLC raised its holdings in Guidewire Software by 1.7% during the third quarter. Vident Advisory LLC now owns 4,074 shares of the technology company’s stock worth $936,000 after purchasing an additional 70 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Guidewire Software by 18.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 505 shares of the technology company’s stock worth $102,000 after purchasing an additional 78 shares in the last quarter.

Insider Activity at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 4,737 shares of Guidewire Software stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $163.86, for a total value of $776,204.82. Following the transaction, the chief executive officer directly owned 221,206 shares in the company, valued at $36,246,815.16. This trade represents a 2.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President John P. Mullen sold 6,576 shares of Guidewire Software stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $163.86, for a total transaction of $1,077,543.36. Following the completion of the transaction, the president owned 135,407 shares in the company, valued at approximately $22,187,791.02. This trade represents a 4.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,679 shares of company stock worth $5,178,014 in the last three months. Insiders own 0.46% of the company’s stock.

Guidewire Software Stock Performance

NYSE:GWRE opened at $127.24 on Tuesday. The firm’s fifty day moving average price is $139.59 and its 200 day moving average price is $159.91. Guidewire Software, Inc. has a 1-year low of $115.57 and a 1-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 2.93. The firm has a market cap of $10.77 billion, a price-to-earnings ratio of 68.78 and a beta of 0.93.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $355.92 million. During the same period last year, the firm posted $0.88 EPS. Guidewire Software’s quarterly revenue was up 26.9% on a year-over-year basis. On average, sell-side analysts expect that Guidewire Software, Inc. will post 1.84 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on GWRE. Wells Fargo & Company cut 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. Royal Bank Of Canada cut their price objective on shares of Guidewire Software from $250.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. The Goldman Sachs Group cut their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. Finally, Oppenheimer cut their price objective on shares of Guidewire Software from $250.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, May 18th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.00.

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.