Vanguard Group Inc. Acquires 116,726 Shares of Guidewire Software, Inc. $GWRE

Vanguard Group Inc. lifted its stake in Guidewire Software, Inc. (NYSE:GWRE) by 1.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,039,377 shares of the technology company’s stock after buying an additional 116,726 shares during the period. Vanguard Group Inc. owned approximately 0.11% of Guidewire Software worth $2,077,791,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Advisors Asset Management Inc. purchased a new position in Guidewire Software in the 1st quarter worth approximately $25,000. Root Financial Partners LLC bought a new position in shares of Guidewire Software in the third quarter worth approximately $29,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Guidewire Software in the second quarter worth $30,000. Westside Investment Management Inc. bought a new stake in Guidewire Software during the 2nd quarter valued at $32,000. Finally, Cornerstone Planning Group LLC boosted its position in Guidewire Software by 620.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 144 shares of the technology company’s stock valued at $34,000 after buying an additional 124 shares during the period.

Analysts Set New Price Targets

GWRE has been the topic of a number of analyst reports. DA Davidson upgraded shares of Guidewire Software from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $246.00 to $250.00 in a research report on Wednesday, December 17th. BTIG Research cut their target price on Guidewire Software from $225.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday. Wells Fargo & Company reduced their price target on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Wall Street Zen cut Guidewire Software from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Finally, Citigroup boosted their target price on Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $259.77.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, insider James Winston King sold 1,860 shares of Guidewire Software stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $195.00, for a total transaction of $362,700.00. Following the completion of the transaction, the insider owned 33,702 shares in the company, valued at approximately $6,571,890. The trade was a 5.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey Elliott Cooper sold 2,872 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $192.08, for a total value of $551,653.76. Following the completion of the sale, the chief financial officer directly owned 74,201 shares in the company, valued at approximately $14,252,528.08. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,960 shares of company stock valued at $8,767,044 over the last ninety days. Company insiders own 0.46% of the company’s stock.

Guidewire Software Price Performance

Shares of GWRE stock opened at $128.73 on Friday. The business’s fifty day moving average is $167.22 and its 200 day moving average is $206.33. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.44. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 122.60, a PEG ratio of 8.30 and a beta of 1.06. Guidewire Software, Inc. has a twelve month low of $120.37 and a twelve month high of $272.60.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Wednesday, December 3rd. The technology company reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates of $0.66. The firm had revenue of $332.64 million for the quarter, compared to analysts’ expectations of $316.62 million. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 EPS. Research analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Guidewire Software declared that its Board of Directors has initiated a stock repurchase program on Thursday, January 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

About Guidewire Software

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.