Jackson Square Partners LLC acquired a new position in shares of Guidewire Software Inc (NYSE:GWRE) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 155,902 shares of the technology company’s stock, valued at approximately $15,147,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bremer Bank National Association purchased a new position in shares of Guidewire Software in the first quarter worth about $29,000. Captrust Financial Advisors purchased a new position in shares of Guidewire Software in the fourth quarter worth about $41,000. Rehmann Capital Advisory Group increased its stake in shares of Guidewire Software by 62.7% in the fourth quarter. Rehmann Capital Advisory Group now owns 581 shares of the technology company’s stock worth $47,000 after purchasing an additional 224 shares in the last quarter. Manchester Capital Management LLC purchased a new position in shares of Guidewire Software in the first quarter worth about $49,000. Finally, Icon Wealth Partners LLC purchased a new position in shares of Guidewire Software in the first quarter worth about $51,000.
In other Guidewire Software news, CEO Marcus Ryu sold 20,000 shares of Guidewire Software stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $96.54, for a total transaction of $1,930,800.00. Following the completion of the sale, the chief executive officer now directly owns 22,404 shares in the company, valued at $2,162,882.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Polelle sold 2,732 shares of Guidewire Software stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $94.70, for a total transaction of $258,720.40. Following the sale, the insider now owns 5,449 shares of the company’s stock, valued at $516,020.30. The disclosure for this sale can be found here. Insiders sold 76,317 shares of company stock valued at $7,539,740 over the last 90 days. 0.69% of the stock is owned by company insiders.
GWRE has been the subject of several recent research reports. Piper Jaffray Companies downgraded shares of Guidewire Software from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $95.00 to $90.00 in a research note on Monday, March 4th. Zacks Investment Research downgraded shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, ValuEngine downgraded shares of Guidewire Software from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Guidewire Software currently has an average rating of “Hold” and an average target price of $107.40.
Shares of GWRE stock traded down $0.02 during trading hours on Thursday, reaching $97.69. The stock had a trading volume of 4,254 shares, compared to its average volume of 878,904. The company has a current ratio of 6.38, a quick ratio of 7.45 and a debt-to-equity ratio of 0.21. Guidewire Software Inc has a 12 month low of $73.82 and a 12 month high of $109.06. The firm has a market capitalization of $7.94 billion, a P/E ratio of 1,083.78, a price-to-earnings-growth ratio of 21.53 and a beta of 1.27.
Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.10. Guidewire Software had a net margin of 10.66% and a return on equity of 4.76%. The company had revenue of $162.90 million during the quarter, compared to analyst estimates of $155.23 million. During the same period last year, the business earned $0.05 earnings per share. Guidewire Software’s revenue was up 14.6% compared to the same quarter last year. Sell-side analysts predict that Guidewire Software Inc will post 0.48 EPS for the current year.
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Guidewire Software Profile
Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter applications. It also provides Guidewire InsuranceNow, a cloud-based platform, which offers policy, billing, and claims management functionality to insurers that prefer to subscribe to a cloud-based solution.
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