Whittier Trust Co. Raises Holdings in Guidewire Software, Inc. $GWRE

Whittier Trust Co. boosted its position in Guidewire Software, Inc. (NYSE:GWRE) by 9.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,638 shares of the technology company’s stock after acquiring an additional 6,251 shares during the quarter. Whittier Trust Co. owned 0.08% of Guidewire Software worth $10,295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GWRE. Capital World Investors purchased a new position in shares of Guidewire Software in the 4th quarter worth about $202,405,000. Alliancebernstein L.P. increased its position in Guidewire Software by 405.1% during the 2nd quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company’s stock worth $126,743,000 after purchasing an additional 431,725 shares in the last quarter. Stockbridge Partners LLC increased its position in Guidewire Software by 39.0% during the 4th quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company’s stock worth $290,501,000 after purchasing an additional 405,850 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Guidewire Software by 179.0% in the first quarter. Assenagon Asset Management S.A. now owns 628,759 shares of the technology company’s stock valued at $94,037,000 after buying an additional 403,370 shares during the period. Finally, M&T Bank Corp lifted its position in Guidewire Software by 4,507.8% during the fourth quarter. M&T Bank Corp now owns 318,675 shares of the technology company’s stock valued at $64,057,000 after buying an additional 311,759 shares in the last quarter.

Insider Buying and Selling at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 2,594 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $308,011.56. Following the transaction, the chief financial officer owned 63,467 shares in the company, valued at approximately $7,536,071.58. The trade was a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President John P. Mullen sold 4,292 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $509,632.08. Following the completion of the transaction, the president directly owned 131,115 shares of the company’s stock, valued at $15,568,595.10. This represents a 3.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 29,709 shares of company stock valued at $3,716,920 in the last ninety days. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on GWRE. Royal Bank Of Canada decreased their price objective on shares of Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Oppenheimer reduced their target price 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. Wells Fargo & Company decreased their price target on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. BTIG Research reiterated a “buy” rating and issued a $175.00 price target on shares of Guidewire Software in a report on Thursday, July 2nd. Finally, Citizens Jmp cut their price objective on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a research report on Friday, June 5th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Guidewire Software has an average rating of “Moderate Buy” and a consensus price target of $221.36.

Guidewire Software Stock Up 1.1%

Shares of NYSE GWRE traded up $1.51 during trading on Tuesday, reaching $139.10. 231,944 shares of the stock were exchanged, compared to its average volume of 1,675,977. The business’s 50-day moving average price is $131.41 and its 200 day moving average price is $147.30. Guidewire Software, Inc. has a twelve month low of $102.30 and a twelve month high of $272.60. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $11.58 billion, a price-to-earnings ratio of 74.97 and a beta of 0.95.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results 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 business had revenue of $372.54 million during the quarter, compared to analyst estimates of $355.92 million. During the same period last year, the business earned $0.88 EPS. The business’s revenue was up 26.9% on a year-over-year basis. As a group, equities analysts forecast that Guidewire Software, Inc. will post 1.83 EPS for the current fiscal year.

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.