Picton Mahoney Asset Management Has $8.75 Million Stock Position in Guidewire Software, Inc. $GWRE

Picton Mahoney Asset Management lifted its stake in Guidewire Software, Inc. (NYSE:GWRE) by 304.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,051 shares of the technology company’s stock after purchasing an additional 28,646 shares during the period. Picton Mahoney Asset Management’s holdings in Guidewire Software were worth $8,746,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. acquired a new position in Guidewire Software in the first quarter valued at about $25,000. Assetmark Inc. grew its position in shares of Guidewire Software by 21.2% during the 2nd quarter. Assetmark Inc. now owns 3,314 shares of the technology company’s stock worth $780,000 after buying an additional 579 shares during the period. Atria Investments Inc increased its stake in shares of Guidewire Software by 27.2% in the 2nd quarter. Atria Investments Inc now owns 4,241 shares of the technology company’s stock valued at $998,000 after acquiring an additional 906 shares during the last quarter. State of Michigan Retirement System increased its stake in shares of Guidewire Software by 1.0% in the 2nd quarter. State of Michigan Retirement System now owns 20,200 shares of the technology company’s stock valued at $4,756,000 after acquiring an additional 200 shares during the last quarter. Finally, Sigma Planning Corp acquired a new stake in shares of Guidewire Software in the 2nd quarter valued at approximately $593,000.

Guidewire Software Trading Up 1.0%

NYSE GWRE opened at $153.45 on Thursday. Guidewire Software, Inc. has a 52 week low of $120.37 and a 52 week high of $272.60. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.48 and a current ratio of 3.48. The stock’s 50 day moving average price is $156.32 and its two-hundred day moving average price is $201.52. The stock has a market capitalization of $13.05 billion, a price-to-earnings ratio of 146.14, a PEG ratio of 9.79 and a beta of 1.06.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.66. The company had revenue of $332.64 million for the quarter, compared to the consensus estimate of $316.62 million. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The firm’s revenue was up 26.5% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. As a group, analysts anticipate that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Guidewire Software declared that its Board of Directors has approved a stock repurchase plan on Thursday, January 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Oppenheimer decreased their price objective on shares of Guidewire Software from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Citizens Jmp reissued a “market outperform” rating and issued a $281.00 price target on shares of Guidewire Software in a report on Wednesday, December 10th. Citigroup upped their price objective on shares of Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Wall Street Zen downgraded Guidewire Software from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Finally, BTIG Research reduced their target price on Guidewire Software from $225.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.92.

Insider Buying and Selling at Guidewire Software

In other news, insider James Winston King sold 1,860 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $195.00, for a total transaction of $362,700.00. Following the completion of the transaction, the insider directly owned 33,702 shares in the company, valued at $6,571,890. This represents a 5.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President John P. Mullen sold 7,975 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total value of $1,531,838.00. Following the completion of the transaction, the president owned 141,983 shares of the company’s stock, valued at $27,272,094.64. The trade was a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 42,760 shares of company stock worth $7,978,508. Company insiders own 0.46% of the company’s stock.

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.