Driehaus Capital Management LLC raised its holdings in shares of Guidewire Software (NYSE:GWRE) by 35.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,327 shares of the technology company’s stock after purchasing an additional 1,927 shares during the period. Driehaus Capital Management LLC’s holdings in Guidewire Software were worth $544,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Carillon Tower Advisers Inc. purchased a new position in shares of Guidewire Software in the 4th quarter worth approximately $57,253,000. Atlantic Trust Group LLC purchased a new position in shares of Guidewire Software in the 3rd quarter worth approximately $39,989,000. Alliancebernstein L.P. grew its position in shares of Guidewire Software by 28.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,568,248 shares of the technology company’s stock worth $116,458,000 after buying an additional 343,376 shares during the last quarter. Wasatch Advisors Inc. grew its position in shares of Guidewire Software by 69.8% in the 3rd quarter. Wasatch Advisors Inc. now owns 692,806 shares of the technology company’s stock worth $53,942,000 after buying an additional 284,762 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Guidewire Software by 186.0% in the 4th quarter. First Trust Advisors LP now owns 302,539 shares of the technology company’s stock worth $22,467,000 after buying an additional 196,742 shares during the last quarter.
In other news, insider Steven P. Sherry sold 4,783 shares of the company’s stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $84.18, for a total transaction of $402,632.94. Following the completion of the sale, the insider now owns 7,255 shares of the company’s stock, valued at $610,725.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marcus Ryu sold 19,705 shares of the company’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $79.05, for a total transaction of $1,557,680.25. Following the sale, the chief executive officer now directly owns 32,270 shares of the company’s stock, valued at approximately $2,550,943.50. The disclosure for this sale can be found here. Insiders have sold 82,022 shares of company stock valued at $6,581,821 in the last ninety days. Insiders own 0.69% of the company’s stock.
A number of analysts recently commented on GWRE shares. Zacks Investment Research cut shares of Guidewire Software from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. DA Davidson started coverage on shares of Guidewire Software in a research note on Friday, February 2nd. They issued a “buy” rating and a $92.00 target price for the company. Stifel Nicolaus lifted their target price on shares of Guidewire Software from $78.00 to $88.00 and gave the stock a “hold” rating in a research note on Wednesday, March 7th. Piper Jaffray reiterated an “overweight” rating on shares of Guidewire Software in a research note on Wednesday, March 14th. Finally, William Blair reiterated an “outperform” rating on shares of Guidewire Software in a research note on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $85.44.
NYSE GWRE traded down $0.34 on Friday, hitting $80.91. The company had a trading volume of 777,067 shares, compared to its average volume of 788,423. The firm has a market cap of $6,123.17, a PE ratio of 202.28 and a beta of 1.05. Guidewire Software has a 12-month low of $58.25 and a 12-month high of $92.65.
Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Tuesday, March 6th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.19 by $0.14. Guidewire Software had a negative net margin of 5.09% and a positive return on equity of 2.54%. The company had revenue of $163.80 million during the quarter, compared to analyst estimates of $154.34 million. During the same quarter in the previous year, the firm earned $0.28 EPS. The firm’s revenue was up 41.7% compared to the same quarter last year. research analysts predict that Guidewire Software will post -0.01 EPS for the current fiscal year.
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Guidewire Software Profile
Guidewire Software, Inc provides software products for property and casualty insurers. It offers Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers. The company's products include Guidewire InsuranceSuite comprising Guidewire PolicyCenter, an underwriting and policy administration application; Guidewire ClaimCenter, a lifecycle management application; Guidewire BillingCenter, manages billing, payment plans, agent commissions, and external payment systems; and Guidewire Underwriting Management, a cloud-based underwriting application.
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