State Farm Mutual Automobile Insurance Co. Continues to Hold Position in Guidewire Software, Inc. (GWRE)
State Farm Mutual Automobile Insurance Co. maintained its position in shares of Guidewire Software, Inc. (NYSE:GWRE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,900 shares of the technology company’s stock at the close of the 2nd quarter. State Farm Mutual Automobile Insurance Co. owned 0.07% of Guidewire Software worth $3,429,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in GWRE. Israel Discount Bank of New York purchased a new stake in Guidewire Software during the 1st quarter worth approximately $104,000. Tower Research Capital LLC TRC grew its position in Guidewire Software by 424.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,601 shares of the technology company’s stock worth $146,000 after purchasing an additional 2,105 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Guidewire Software by 12.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,536 shares of the technology company’s stock worth $174,000 after purchasing an additional 283 shares during the last quarter. First Trust Advisors LP purchased a new stake in Guidewire Software during the 2nd quarter worth approximately $214,000. Finally, SG Americas Securities LLC grew its position in Guidewire Software by 28.6% during the 1st quarter. SG Americas Securities LLC now owns 3,814 shares of the technology company’s stock worth $215,000 after purchasing an additional 848 shares during the last quarter.
Guidewire Software, Inc. (NYSE GWRE) traded down 0.31% during mid-day trading on Friday, hitting $79.81. 1,182,289 shares of the stock traded hands. The stock has a market cap of $5.94 billion, a PE ratio of 582.55 and a beta of 1.24. The company has a 50 day moving average of $72.40 and a 200-day moving average of $64.94. Guidewire Software, Inc. has a 12-month low of $49.18 and a 12-month high of $81.46.
Guidewire Software (NYSE:GWRE) last announced its earnings results on Wednesday, September 6th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.20. The business had revenue of $181.10 million for the quarter, compared to analysts’ expectations of $168.61 million. Guidewire Software had a net margin of 4.13% and a return on equity of 3.67%. The company’s quarterly revenue was up 28.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS. Equities research analysts forecast that Guidewire Software, Inc. will post $1.03 earnings per share for the current year.
Several analysts have weighed in on the stock. Citigroup Inc. reissued a “buy” rating and set a $85.00 target price (up previously from $79.00) on shares of Guidewire Software in a research report on Thursday. Bank of America Corporation boosted their target price on shares of Guidewire Software from $74.00 to $76.00 and gave the stock a “neutral” rating in a research report on Thursday. Stifel Nicolaus boosted their target price on shares of Guidewire Software from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday. Piper Jaffray Companies reissued a “buy” rating and set a $80.00 target price on shares of Guidewire Software in a research report on Sunday, August 27th. Finally, KeyCorp reissued a “buy” rating and set a $75.00 target price on shares of Guidewire Software in a research report on Friday, August 25th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $77.33.
In other news, CEO Marcus Ryu sold 25,000 shares of Guidewire Software stock in a transaction on Friday, September 1st. The shares were sold at an average price of $75.51, for a total value of $1,887,750.00. Following the transaction, the chief executive officer now directly owns 139,139 shares of the company’s stock, valued at approximately $10,506,385.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott Roza sold 780 shares of Guidewire Software stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $66.56, for a total transaction of $51,916.80. Following the completion of the transaction, the insider now directly owns 5,740 shares in the company, valued at $382,054.40. The disclosure for this sale can be found here. Insiders sold a total of 105,577 shares of company stock worth $7,486,697 over the last ninety days. Corporate insiders own 0.96% of the company’s stock.
Guidewire Software 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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