New York Life Investment Management LLC Purchases 3,575 Shares of Guidewire Software, Inc. $GWRE

New York Life Investment Management LLC lifted its position in Guidewire Software, Inc. (NYSE:GWRE) by 40.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,320 shares of the technology company’s stock after purchasing an additional 3,575 shares during the period. New York Life Investment Management LLC’s holdings in Guidewire Software were worth $1,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GWRE. Fulcrum Asset Management LLP raised its position in shares of Guidewire Software by 55,220.0% during the 3rd quarter. Fulcrum Asset Management LLP now owns 16,596 shares of the technology company’s stock valued at $2,365,000 after purchasing an additional 16,566 shares during the period. Hohimer Wealth Management LLC purchased a new position in shares of Guidewire Software during the 3rd quarter valued at $667,000. Ethic Inc. lifted its stake in shares of Guidewire Software by 10.7% during the 3rd quarter. Ethic Inc. now owns 11,284 shares of the technology company’s stock valued at $1,609,000 after buying an additional 1,092 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in Guidewire Software by 68.8% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 75,063 shares of the technology company’s stock worth $10,702,000 after buying an additional 30,599 shares during the period. Finally, CenterBook Partners LP bought a new position in Guidewire Software in the 3rd quarter worth $862,000.

Insider Activity at Guidewire Software

In related news, CAO David Peterson sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $200.00, for a total transaction of $500,000.00. Following the completion of the transaction, the chief accounting officer directly owned 9,787 shares of the company’s stock, valued at approximately $1,957,400. This trade represents a 20.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey Cooper sold 23,234 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $144.47, for a total transaction of $3,356,615.98. Following the transaction, the chief financial officer directly owned 95,361 shares of the company’s stock, valued at $13,776,803.67. This trade represents a 19.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 209,135 shares of company stock valued at $31,764,329 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GWRE shares. Oppenheimer increased their price target on Guidewire Software from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, September 4th. Citigroup raised their price target on Guidewire Software from $137.00 to $181.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research report on Monday, August 31st. BTIG Research boosted their price objective on Guidewire Software from $175.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $222.00 price objective on shares of Guidewire Software in a research note on Friday, October 2nd. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.29.

Guidewire Software Price Performance

GWRE traded down $1.75 during trading on Friday, reaching $158.25. 421,214 shares of the company traded hands, compared to its average volume of 1,054,207. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.79 and a current ratio of 1.79. Guidewire Software, Inc. has a 12-month low of $102.30 and a 12-month high of $229.85. The firm has a fifty day simple moving average of $159.99 and a 200 day simple moving average of $149.27. The company has a market cap of $13.08 billion, a P/E ratio of 97.09 and a beta of 1.01.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Thursday, September 3rd. The technology company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.06. Guidewire Software had a net margin of 9.44% and a return on equity of 12.66%. The firm had revenue of $411.09 million for the quarter, compared to analysts’ expectations of $402.61 million. During the same quarter last year, the business posted $0.84 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities analysts forecast that Guidewire Software, Inc. will post 2.45 EPS for the current year.

Guidewire Software Profile

Guidewire Software develops software for property and casualty insurance companies. Its products support core insurance operations, including policy administration, billing and claims management, as well as data analytics and digital customer services. The company offers its applications through Guidewire Cloud and provides related implementation and support services. Its platform includes products such as PolicyCenter, BillingCenter and ClaimCenter, designed to help insurers manage workflows and modernize their technology systems.