TD Waterhouse Canada Inc. Buys 6,930 Shares of Guidewire Software, Inc. $GWRE

TD Waterhouse Canada Inc. grew its position in Guidewire Software, Inc. (NYSE:GWRE) by 86.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,957 shares of the technology company’s stock after purchasing an additional 6,930 shares during the period. TD Waterhouse Canada Inc.’s holdings in Guidewire Software were worth $1,910,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Bamco Inc. NY bought a new position in Guidewire Software during the 2nd quarter valued at about $1,106,768,000. Linonia Partnership LP acquired a new stake in shares of Guidewire Software during the second quarter worth approximately $853,165,000. Route One Investment Company L.P. bought a new position in shares of Guidewire Software in the second quarter valued at approximately $227,564,000. Geode Capital Management LLC boosted its holdings in shares of Guidewire Software by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company’s stock worth $357,504,000 after acquiring an additional 145,924 shares in the last quarter. Finally, Stockbridge Partners LLC boosted its holdings in shares of Guidewire Software by 39.0% in the 4th quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company’s stock worth $290,501,000 after acquiring an additional 405,850 shares in the last quarter.

Guidewire Software Stock Down 7.8%

GWRE stock opened at $149.72 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.79 and a quick ratio of 2.44. The stock has a market capitalization of $12.47 billion, a P/E ratio of 91.85 and a beta of 0.97. Guidewire Software, Inc. has a fifty-two week low of $102.30 and a fifty-two week high of $262.93. The business has a 50-day moving average of $162.42 and a 200-day moving average of $146.94.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, September 3rd. The technology company reported $0.99 EPS for the quarter, topping 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 business had revenue of $411.09 million during the quarter, compared to analysts’ expectations of $402.61 million. During the same quarter in the prior year, the company posted $0.84 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts anticipate that Guidewire Software, Inc. will post 2.15 earnings per share for the current fiscal year.

Insider Activity at Guidewire Software

In other news, President John P. Mullen sold 14,400 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $185.00, for a total value of $2,664,000.00. Following the completion of the sale, the president owned 116,715 shares of the company’s stock, valued at approximately $21,592,275. This represents a 10.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO David Peterson sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $200.00, for a total value of $500,000.00. Following the transaction, the chief accounting officer directly owned 9,787 shares in the company, valued at approximately $1,957,400. This trade represents a 20.35% 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 quarter, insiders have sold 47,093 shares of company stock valued at $7,215,782. 0.46% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on GWRE. DA Davidson reaffirmed a “buy” rating and set a $222.00 price target on shares of Guidewire Software in a report on Friday, September 4th. BTIG Research boosted their price objective on Guidewire Software from $175.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Wells Fargo & Company upped their price target on shares of Guidewire Software from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. The Goldman Sachs Group cut their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Guidewire Software in a research note on Friday, September 4th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Guidewire Software presently has an average rating of “Moderate Buy” and a consensus target price of $216.23.

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.