Weiss Asset Management LP Takes Position in Guidewire Software, Inc. $GWRE

Weiss Asset Management LP purchased a new position in Guidewire Software, Inc. (NYSE:GWRE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,700 shares of the technology company’s stock, valued at approximately $6,087,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Advisors Asset Management Inc. bought a new stake in Guidewire Software during the 1st quarter valued at approximately $25,000. Amundi raised its position in shares of Guidewire Software by 703.0% in the 2nd quarter. Amundi now owns 36,093 shares of the technology company’s stock worth $8,220,000 after acquiring an additional 31,598 shares in the last quarter. Jump Financial LLC bought a new position in shares of Guidewire Software in the 2nd quarter worth approximately $305,000. Bank of Nova Scotia lifted its stake in shares of Guidewire Software by 30.9% in the 2nd quarter. Bank of Nova Scotia now owns 2,024 shares of the technology company’s stock valued at $477,000 after purchasing an additional 478 shares during the period. Finally, NewEdge Advisors LLC lifted its position in Guidewire Software by 30.6% during the second quarter. NewEdge Advisors LLC now owns 4,911 shares of the technology company’s stock valued at $1,156,000 after buying an additional 1,152 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Oppenheimer dropped their price objective on shares of Guidewire Software from $250.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, May 18th. The Goldman Sachs Group cut their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Finally, Wells Fargo & Company decreased their target price on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and an average price target of $221.00.

Guidewire Software Price Performance

NYSE GWRE opened at $138.34 on Friday. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 74.78 and a beta of 0.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44. The business’s fifty day moving average price is $132.87 and its 200-day moving average price is $141.68. Guidewire Software, Inc. has a 1-year low of $102.30 and a 1-year high of $272.60.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The business had revenue of $372.54 million during the quarter, compared to the consensus estimate of $355.92 million. During the same period in the previous year, the company posted $0.88 EPS. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. On average, equities analysts predict that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

Insider Activity at Guidewire Software

In related news, President John P. Mullen sold 4,292 shares of Guidewire Software stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $509,632.08. Following the transaction, the president directly owned 131,115 shares in the company, valued at approximately $15,568,595.10. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeffrey Elliott Cooper sold 1,348 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $105.67, for a total value of $142,443.16. Following the transaction, the chief financial officer owned 62,119 shares of the company’s stock, valued at approximately $6,564,114.73. This trade represents a 2.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 30,193 shares of company stock valued at $3,792,858 in the last three months. Corporate insiders own 0.46% of the company’s stock.

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.