CIBC Bancorp USA Inc. Buys New Shares in Guidewire Software, Inc. $GWRE

CIBC Bancorp USA Inc. bought a new position in Guidewire Software, Inc. (NYSE:GWRE) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 188,368 shares of the technology company’s stock, valued at approximately $43,298,000. CIBC Bancorp USA Inc. owned about 0.22% of Guidewire Software at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Earned Wealth Advisors LLC increased its holdings in shares of Guidewire Software by 5.4% in the third quarter. Earned Wealth Advisors LLC now owns 989 shares of the technology company’s stock valued at $227,000 after purchasing an additional 51 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of 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 during the period. PDS Planning Inc boosted its position in Guidewire Software by 6.4% in the third quarter. PDS Planning Inc now owns 911 shares of the technology company’s stock valued at $209,000 after buying an additional 55 shares during the last quarter. American Trust boosted its position in Guidewire Software by 3.9% in the third quarter. American Trust now owns 1,632 shares of the technology company’s stock valued at $375,000 after buying an additional 61 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in Guidewire Software by 1.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 3,739 shares of the technology company’s stock worth $859,000 after buying an additional 62 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have commented on GWRE. Citigroup lifted their price objective on shares of Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Citizens Jmp reiterated a “market outperform” rating and issued a $281.00 price objective on shares of Guidewire Software in a research note on Wednesday, December 10th. BTIG Research raised their target price on shares of Guidewire Software from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a report on Thursday, January 22nd. Finally, Wall Street Zen downgraded Guidewire Software from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $249.85.

Insider Buying and Selling at Guidewire Software

In other news, insider James Winston King sold 1,860 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $195.00, for a total transaction of $362,700.00. Following the sale, the insider directly owned 33,702 shares of the company’s stock, valued at $6,571,890. This represents a 5.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeffrey Elliott Cooper sold 4,757 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $158.72, for a total value of $755,031.04. Following the sale, the chief financial officer owned 67,996 shares in the company, valued at $10,792,325.12. This trade represents a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 20,465 shares of company stock valued at $3,424,537. Corporate insiders own 0.46% of the company’s stock.

Guidewire Software Trading Up 0.9%

Guidewire Software stock opened at $163.13 on Wednesday. The firm has a market cap of $13.81 billion, a PE ratio of 74.15, a P/E/G ratio of 7.33 and a beta of 1.06. Guidewire Software, Inc. has a 12 month low of $120.37 and a 12 month high of $272.60. The stock’s 50 day simple moving average is $149.78 and its two-hundred day simple moving average is $198.05. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 0.45.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, March 5th. The technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.40. Guidewire Software had a net margin of 14.11% and a return on equity of 13.44%. The firm had revenue of $359.10 million during the quarter, compared to analyst estimates of $342.88 million. During the same period in the previous year, the firm earned $0.51 EPS. The business’s quarterly revenue was up 24.0% on a year-over-year basis. Analysts anticipate that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Guidewire Software announced that its Board of Directors has approved a stock repurchase plan on Thursday, January 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.