UBS Asset Management Americas Inc. grew its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE – Get Rating) by 14.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 338,198 shares of the technology company’s stock after purchasing an additional 43,383 shares during the period. UBS Asset Management Americas Inc.’s holdings in Guidewire Software were worth $24,009,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Advisory Group LLC lifted its position in Guidewire Software by 94.4% during the 1st quarter. Fortitude Advisory Group LLC now owns 414 shares of the technology company’s stock worth $38,000 after buying an additional 201 shares in the last quarter. Charter Oak Capital Management LLC bought a new stake in Guidewire Software during the 2nd quarter worth about $39,000. Urban Wealth Management LLC bought a new stake in Guidewire Software during the 2nd quarter worth about $57,000. Heritage Wealth Management LLC bought a new stake in Guidewire Software during the 2nd quarter worth about $78,000. Finally, Covestor Ltd lifted its position in Guidewire Software by 1,302.8% during the 1st quarter. Covestor Ltd now owns 996 shares of the technology company’s stock worth $94,000 after buying an additional 925 shares in the last quarter. 99.36% of the stock is owned by institutional investors.
Guidewire Software Stock Up 0.4 %
Guidewire Software stock opened at $62.96 on Friday. The stock has a market cap of $5.15 billion, a P/E ratio of -26.45 and a beta of 1.25. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.25. Guidewire Software, Inc. has a twelve month low of $52.08 and a twelve month high of $115.78. The company’s 50-day moving average price is $58.54 and its two-hundred day moving average price is $68.28.
Guidewire Software (NYSE:GWRE – Get Rating) last announced its earnings results on Tuesday, September 6th. The technology company reported earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.02. Guidewire Software had a negative net margin of 23.57% and a negative return on equity of 10.14%. The firm had revenue of $244.60 million for the quarter, compared to analyst estimates of $229.63 million. During the same quarter in the prior year, the business posted $0.06 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. As a group, analysts expect that Guidewire Software, Inc. will post -1.51 EPS for the current year.
Analysts Set New Price Targets
Several equity research analysts have commented on GWRE shares. JMP Securities cut their price target on shares of Guidewire Software from $110.00 to $95.00 and set a “market outperform” rating on the stock in a research report on Wednesday, September 7th. Robert W. Baird dropped their target price on shares of Guidewire Software from $99.00 to $81.00 and set a “neutral” rating on the stock in a report on Thursday, September 8th. Wells Fargo & Company dropped their target price on shares of Guidewire Software from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Wednesday. StockNews.com began coverage on shares of Guidewire Software in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Guidewire Software in a report on Thursday, December 1st. They issued an “overweight” rating and a $78.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $82.60.
Insiders Place Their Bets
In other Guidewire Software news, insider James Winston King sold 3,110 shares of the stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $62.82, for a total transaction of $195,370.20. Following the transaction, the insider now owns 43,907 shares in the company, valued at approximately $2,758,237.74. The sale was disclosed in a document filed with the SEC, which is accessible via the SEC website. In related news, COO Priscilla Hung sold 7,402 shares of the stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $62.82, for a total transaction of $464,993.64. Following the sale, the chief operating officer now owns 70,100 shares in the company, valued at approximately $4,403,682. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, insider James Winston King sold 3,110 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $62.82, for a total transaction of $195,370.20. Following the sale, the insider now owns 43,907 shares in the company, valued at approximately $2,758,237.74. The disclosure for this sale can be found here. Insiders have sold a total of 41,202 shares of company stock worth $2,588,310 in the last quarter. Corporate insiders own 0.30% of the company’s stock.
About Guidewire Software
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Guidewire Software, Inc provides software products for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud consisting of PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.
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