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

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Guidewire Software, Inc. (NYSE:GWRE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,066 shares of the technology company’s stock, valued at approximately $1,116,000.

A number of other large investors have also added to or reduced their stakes in GWRE. Principal Financial Group Inc. raised its holdings in shares of Guidewire Software by 547.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock worth $176,537,000 after purchasing an additional 997,992 shares during the period. Stephens Investment Management Group LLC raised its stake in shares of Guidewire Software by 3.0% in the first quarter. Stephens Investment Management Group LLC now owns 524,818 shares of the technology company’s stock valued at $78,492,000 after buying an additional 15,260 shares during the period. Geode Capital Management LLC lifted its position in shares of Guidewire Software by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company’s stock valued at $357,504,000 after buying an additional 145,924 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Guidewire Software during the 4th quarter worth $5,837,000. Finally, Weiss Asset Management LP purchased a new stake in Guidewire Software in the 1st quarter worth about $6,087,000.

Insider Activity

In other news, CAO David Peterson sold 2,500 shares of Guidewire Software stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $200.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief accounting officer owned 9,787 shares in the company, valued at approximately $1,957,400. This trade represents a 20.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President John Mullen sold 14,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $185.00, for a total transaction of $2,664,000.00. Following the completion of the transaction, the president owned 116,715 shares in the company, valued at approximately $21,592,275. This trade represents a 10.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 47,093 shares of company stock worth $7,215,782. 0.46% of the stock is currently owned by insiders.

Guidewire Software Stock Up 0.6%

Shares of NYSE:GWRE opened at $140.87 on Friday. The firm has a fifty day moving average price of $162.96 and a two-hundred day moving average price of $147.08. The company has a market cap of $11.73 billion, a price-to-earnings ratio of 86.42 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.79 and a quick ratio of 2.44. Guidewire Software, Inc. has a one year low of $102.30 and a one year high of $255.91.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Thursday, September 3rd. The technology company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The company had revenue of $411.09 million for the quarter, compared to the consensus estimate of $402.61 million. Guidewire Software had a return on equity of 12.66% and a net margin of 9.44%.The firm’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 earnings per share. Analysts anticipate that Guidewire Software, Inc. will post 2.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on GWRE. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price objective on shares of Guidewire Software in a report on Friday, September 4th. Citizens Jmp restated a “market outperform” rating and set a $220.00 price target on shares of Guidewire Software in a research note on Friday, September 4th. Citigroup lifted their price objective on shares of Guidewire Software from $137.00 to $181.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Guggenheim increased their target price on Guidewire Software from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Finally, Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.23.

About Guidewire Software

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.