CI Investments Inc. Raises Holdings in Guidewire Software, Inc. $GWRE

CI Investments Inc. raised its position in Guidewire Software, Inc. (NYSE:GWRE) by 90.8% during the first quarter, HoldingsChannel.com reports. The firm owned 31,766 shares of the technology company’s stock after buying an additional 15,116 shares during the quarter. CI Investments Inc.’s holdings in Guidewire Software were worth $4,751,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. purchased a new position in Guidewire Software in the first quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Guidewire Software during the 3rd quarter valued at approximately $29,000. Flagship Harbor Advisors LLC acquired a new position in Guidewire Software during the 4th quarter worth $36,000. Leonteq Securities AG acquired a new position in Guidewire Software in the first quarter worth about $36,000. Finally, Bogart Wealth LLC increased its holdings in shares of Guidewire Software by 127.8% in the 1st quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock valued at $37,000 after acquiring an additional 138 shares during the last quarter.

Insider Buying and Selling

In other news, CEO Michael George Rosenbaum sold 1,200 shares of the company’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $138.47, for a total transaction of $166,164.00. Following the completion of the sale, the chief executive officer owned 194,976 shares in the company, valued at approximately $26,998,326.72. This represents a 0.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey Elliott Cooper sold 1,348 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $105.67, for a total value of $142,443.16. Following the sale, the chief financial officer directly owned 62,119 shares of the company’s stock, valued at $6,564,114.73. The trade was a 2.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 30,193 shares of company stock valued at $3,792,858. 0.46% of the stock is owned by corporate insiders.

Guidewire Software Trading Down 2.0%

NYSE GWRE opened at $131.33 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51. Guidewire Software, Inc. has a 1-year low of $102.30 and a 1-year high of $272.60. The firm’s fifty day simple moving average is $132.71 and its 200-day simple moving average is $141.71. The company has a market capitalization of $10.93 billion, a PE ratio of 70.99 and a beta of 0.95.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GWRE shares. Guggenheim started coverage on shares of Guidewire Software in a research report on Thursday. They set a “buy” rating and a $180.00 price objective for the company. Oppenheimer reduced their price objective on shares of Guidewire Software from $250.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, May 18th. DA Davidson lowered their price target on Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Royal Bank Of Canada dropped their target price on shares of Guidewire Software from $250.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. Finally, Citizens Jmp reduced their target price on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a report on Friday, June 5th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Guidewire Software presently has an average rating of “Moderate Buy” and an average target price of $221.00.

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.