Route One Investment Company L.P. Makes New Investment in Guidewire Software, Inc. $GWRE

Route One Investment Company L.P. purchased a new stake in Guidewire Software, Inc. (NYSE:GWRE) during the 2nd quarter, Holdings Channel reports. The firm purchased 1,849,364 shares of the technology company’s stock, valued at approximately $227,564,000. Guidewire Software accounts for 9.1% of Route One Investment Company L.P.’s portfolio, making the stock its 3rd biggest position.

A number of other hedge funds also recently made changes to their positions in GWRE. Hsbc Holdings PLC acquired a new position in shares of Guidewire Software during the second quarter worth approximately $407,000. Canada Pension Plan Investment Board acquired a new stake in Guidewire Software in the 2nd quarter valued at approximately $10,558,000. Legal & General Group Plc acquired a new stake in Guidewire Software in the 2nd quarter valued at approximately $13,363,000. The Manufacturers Life Insurance Company bought a new stake in Guidewire Software during the 2nd quarter valued at $7,168,000. Finally, Stockbridge Partners LLC bought a new stake in Guidewire Software during the 2nd quarter valued at $93,497,000.

Wall Street Analysts Forecast Growth

GWRE has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on Guidewire Software from $300.00 to $258.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Piper Sandler began coverage on shares of Guidewire Software in a research note on Monday, August 10th. They set an “overweight” rating and a $210.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. 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 report on Friday, June 5th. Finally, Oppenheimer raised their target price on shares of Guidewire Software from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $221.64.

Guidewire Software Trading Down 1.6%

Shares of GWRE stock opened at $188.77 on Wednesday. The stock has a 50-day simple moving average of $147.47 and a 200 day simple moving average of $142.73. The stock has a market capitalization of $15.72 billion, a P/E ratio of 102.04 and a beta of 0.92. 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 quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 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 period in the previous year, the business earned $0.88 earnings per share. Guidewire Software’s revenue for the quarter was up 26.9% compared to the same quarter last year. On average, sell-side analysts expect that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.

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 that occurred on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $308,011.56. Following the sale, the chief financial officer directly owned 63,467 shares in the company, valued at $7,536,071.58. The trade was a 3.93% decrease in their position. 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, CEO Michael George Rosenbaum sold 5,830 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $692,254.20. Following the sale, the chief executive officer owned 199,776 shares of the company’s stock, valued at $23,721,402.24. The trade was a 2.84% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 44,593 shares of company stock worth $6,631,278. 0.46% of the stock is currently owned by company insiders.

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.