Global X MANAGEMENT CO LLC lifted its stake in Guidewire Software, Inc. (NYSE:GWRE) by 96.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,200 shares of the technology company’s stock after buying an additional 6,002 shares during the period. Global X MANAGEMENT CO LLC’s holdings in Guidewire Software were worth $950,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Aperio Group LLC lifted its stake in Guidewire Software by 5.3% during the second quarter. Aperio Group LLC now owns 5,369 shares of the technology company’s stock worth $369,000 after purchasing an additional 269 shares during the period. Ameriprise Financial Inc. lifted its stake in Guidewire Software by 51.5% during the second quarter. Ameriprise Financial Inc. now owns 88,489 shares of the technology company’s stock worth $6,079,000 after purchasing an additional 30,089 shares during the period. BlackRock Inc. lifted its stake in Guidewire Software by 3.4% during the second quarter. BlackRock Inc. now owns 3,175,007 shares of the technology company’s stock worth $218,156,000 after purchasing an additional 103,707 shares during the period. Koch Industries Inc. bought a new position in Guidewire Software during the second quarter worth about $304,000. Finally, Teacher Retirement System of Texas lifted its stake in Guidewire Software by 1.1% during the second quarter. Teacher Retirement System of Texas now owns 5,906 shares of the technology company’s stock worth $406,000 after purchasing an additional 63 shares during the period.
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Shares of Guidewire Software, Inc. (GWRE) opened at $79.30 on Thursday. The company has a market cap of $6,019.53, a price-to-earnings ratio of 190.19, a P/E/G ratio of 25.29 and a beta of 1.23. Guidewire Software, Inc. has a 52-week low of $49.18 and a 52-week high of $83.47.
Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Wednesday, September 6th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.39 by $0.20. The business had revenue of $181.10 million for the quarter, compared to analysts’ expectations of $168.61 million. Guidewire Software had a net margin of 4.13% and a return on equity of 3.59%. The firm’s revenue was up 28.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. equities analysts predict that Guidewire Software, Inc. will post 0.2 EPS for the current year.
A number of research analysts have recently issued reports on the stock. KeyCorp reiterated a “buy” rating and issued a $75.00 target price on shares of Guidewire Software in a research note on Friday, August 25th. Piper Jaffray Companies reissued a “buy” rating and issued a $80.00 price target on shares of Guidewire Software in a report on Sunday, August 27th. Citigroup Inc. reissued a “buy” rating and issued a $85.00 price target (up previously from $79.00) on shares of Guidewire Software in a report on Thursday, September 7th. Bank of America Corporation raised their price target on shares of Guidewire Software from $74.00 to $76.00 and gave the company a “neutral” rating in a report on Thursday, September 7th. Finally, Zacks Investment Research raised shares of Guidewire Software from a “hold” rating to a “strong-buy” rating and set a $92.00 price target for the company in a report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $80.11.
In other news, CEO Marcus Ryu sold 25,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $75.51, for a total transaction of $1,887,750.00. Following the transaction, the chief executive officer now directly owns 139,139 shares in the company, valued at approximately $10,506,385.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Hart sold 375 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $75.57, for a total transaction of $28,338.75. Following the transaction, the chief financial officer now owns 3,819 shares in the company, valued at $288,601.83. The disclosure for this sale can be found here. Insiders sold a total of 112,813 shares of company stock worth $8,756,990 over the last ninety days. 0.69% of the stock is currently owned by insiders.
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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