Artisan Partners Limited Partnership reduced its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,734,751 shares of the technology company’s stock after selling 98,583 shares during the period. Artisan Partners Limited Partnership owned approximately 6.37% of Guidewire Software worth $325,325,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Israel Discount Bank of New York purchased a new position in Guidewire Software in the 1st quarter worth about $104,000. Tower Research Capital LLC TRC increased its stake in Guidewire Software by 424.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,601 shares of the technology company’s stock worth $146,000 after purchasing an additional 2,105 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Guidewire Software by 12.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,536 shares of the technology company’s stock worth $174,000 after purchasing an additional 283 shares in the last quarter. First Trust Advisors LP purchased a new position in Guidewire Software in the 2nd quarter worth about $214,000. Finally, SG Americas Securities LLC increased its stake in Guidewire Software by 28.6% in the 1st quarter. SG Americas Securities LLC now owns 3,814 shares of the technology company’s stock worth $215,000 after purchasing an additional 848 shares in the last quarter.
In other Guidewire Software news, General Counsel James Winston King sold 2,157 shares of the stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $66.91, for a total value of $144,324.87. Following the completion of the sale, the general counsel now directly owns 2,174 shares in the company, valued at $145,462.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Craig Conway sold 600 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $70.39, for a total value of $42,234.00. Following the completion of the sale, the director now owns 10,047 shares of the company’s stock, valued at $707,208.33. The disclosure for this sale can be found here. Insiders sold 105,579 shares of company stock valued at $7,504,996 over the last 90 days. Corporate insiders own 0.96% of the company’s stock.
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A number of brokerages recently weighed in on GWRE. BidaskClub raised Guidewire Software from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 3rd. UBS AG lifted their price target on Guidewire Software from $72.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, June 2nd. Piper Jaffray Companies reissued a “buy” rating and issued a $80.00 price target on shares of Guidewire Software in a research note on Sunday, August 27th. Jefferies Group LLC raised Guidewire Software from a “neutral” rating to an “overweight” rating in a research note on Tuesday, June 13th. Finally, TheStreet cut Guidewire Software from a “b-” rating to a “c+” rating in a research note on Monday, August 14th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $78.89.
Shares of Guidewire Software, Inc. (NYSE GWRE) traded down 0.56% during midday trading on Friday, reaching $77.64. The company’s stock had a trading volume of 794,683 shares. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 277.29 and a beta of 1.24. The stock has a 50-day moving average of $73.33 and a 200 day moving average of $65.76. Guidewire Software, Inc. has a 12 month low of $49.18 and a 12 month high of $81.46.
Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Wednesday, September 6th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.20. Guidewire Software had a return on equity of 3.67% and a net margin of 4.13%. The company had revenue of $181.10 million during the quarter, compared to the consensus estimate of $168.61 million. During the same period in the prior year, the company earned $0.22 earnings per share. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, analysts predict that Guidewire Software, Inc. will post $1.03 earnings per share for the current fiscal year.
Guidewire Software Profile
Guidewire Software, Inc is a provider of software products for property and casualty (P&C) insurers. The Company’s software serves as a technology platform for P&C insurance carriers. The Company’s InsurancePlatform consists of three elements: core transaction processing, data management and analytics, and digital engagement.
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