Weiss Asset Management LP Invests $6.09 Million in Guidewire Software, Inc. $GWRE

Weiss Asset Management LP acquired a new stake in shares of Guidewire Software, Inc. (NYSE:GWRE) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 40,700 shares of the technology company’s stock, valued at approximately $6,087,000.

A number of other hedge funds also recently made changes to their positions in the stock. Advisors Asset Management Inc. purchased a new stake in Guidewire Software during the first quarter valued at about $25,000. Amundi boosted its holdings 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 purchasing an additional 31,598 shares in the last quarter. Jump Financial LLC bought a new position in shares of Guidewire Software during the 2nd quarter valued at about $305,000. Bank of Nova Scotia increased its position in shares of Guidewire Software by 30.9% during 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 last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Guidewire Software by 30.6% during the 2nd quarter. NewEdge Advisors LLC now owns 4,911 shares of the technology company’s stock valued at $1,156,000 after purchasing an additional 1,152 shares during the last quarter.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $138.34 on Friday. The company has a market capitalization of $11.52 billion, a P/E ratio of 74.78 and a beta of 0.95. Guidewire Software, Inc. has a fifty-two week low of $102.30 and a fifty-two week high of $272.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44. The stock has a 50 day moving average price of $132.87 and a two-hundred day moving average price of $141.68.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The firm had revenue of $372.54 million for the quarter, compared to analysts’ expectations of $355.92 million. During the same quarter last year, the business earned $0.88 earnings per share. The business’s revenue was up 26.9% on a year-over-year basis. Analysts expect 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 the firm’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 $509,632.08. Following the sale, the president directly owned 131,115 shares of the company’s stock, valued at $15,568,595.10. This trade represents 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 available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Winston King sold 1,684 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $130.64, for a total value of $219,997.76. Following the transaction, the insider owned 30,018 shares in the company, valued at approximately $3,921,551.52. This represents a 5.31% 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. Insiders sold a total of 30,193 shares of company stock valued at $3,792,858 in the last quarter. 0.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GWRE. Royal Bank Of Canada dropped their target price on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. The Goldman Sachs Group reduced their price target on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. BTIG Research reissued a “buy” rating and set a $175.00 price target on shares of Guidewire Software in a research note on Thursday, July 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. Finally, Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Guidewire Software presently has an average rating of “Moderate Buy” and a consensus price target of $221.00.

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.