Whittier Trust Co. raised its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 36.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,249 shares of the technology company’s stock after buying an additional 5,638 shares during the period. Whittier Trust Co.’s holdings in Guidewire Software were worth $1,460,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Israel Discount Bank of New York acquired a new position in shares of Guidewire Software during the first quarter valued at about $104,000. Tower Research Capital LLC TRC raised its position in shares of Guidewire Software by 424.4% in the first quarter. Tower Research Capital LLC TRC now owns 2,601 shares of the technology company’s stock valued at $146,000 after buying an additional 2,105 shares during the period. SG Americas Securities LLC raised its position in shares of Guidewire Software by 28.6% in the first quarter. SG Americas Securities LLC now owns 3,814 shares of the technology company’s stock valued at $215,000 after buying an additional 848 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of Guidewire Software during the first quarter valued at about $217,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Guidewire Software during the first quarter valued at about $217,000.
Guidewire Software, Inc. (NYSE:GWRE) traded up 1.86% during trading on Wednesday, hitting $71.12. 302,029 shares of the company traded hands. The stock has a 50-day moving average price of $70.51 and a 200-day moving average price of $62.73. Guidewire Software, Inc. has a 12-month low of $49.18 and a 12-month high of $73.36. The firm has a market capitalization of $5.29 billion, a P/E ratio of 519.12 and a beta of 1.27.
Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, June 1st. The technology company reported $0.16 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.19. The company had revenue of $123.44 million during the quarter, compared to the consensus estimate of $104.55 million. Guidewire Software had a return on equity of 1.97% and a net margin of 2.19%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 EPS. Equities analysts expect that Guidewire Software, Inc. will post $0.85 EPS for the current fiscal year.
A number of brokerages recently weighed in on GWRE. TheStreet downgraded shares of Guidewire Software from a “b-” rating to a “c+” rating in a research report on Monday. BidaskClub downgraded shares of Guidewire Software from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. ValuEngine upgraded shares of Guidewire Software from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research downgraded shares of Guidewire Software from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, J P Morgan Chase & Co assumed coverage on shares of Guidewire Software in a research report on Tuesday, June 13th. They issued an “overweight” rating on the stock. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Guidewire Software currently has an average rating of “Buy” and a consensus price target of $75.25.
In related news, CFO Richard Hart sold 375 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $69.26, for a total transaction of $25,972.50. Following the transaction, the chief financial officer now directly owns 3,880 shares of the company’s stock, valued at approximately $268,728.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Craig Conway sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $70.33, for a total value of $42,198.00. Following the transaction, the director now directly owns 9,747 shares in the company, valued at $685,506.51. The disclosure for this sale can be found here. Insiders have sold a total of 115,140 shares of company stock valued at $7,904,185 in the last quarter. 0.96% of the stock is owned by corporate insiders.
Guidewire Software Company Profile
Guidewire Software, Inc is a provider of software products for property and casualty (P&C) insurers. The Company’s software serves as a technology platform for P&C insurance carriers. The Company’s InsurancePlatform consists of three elements: core transaction processing, data management and analytics, and digital engagement.
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