Quest Investment Management LLC boosted its stake in Guidewire Software Inc (NYSE:GWRE) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,072 shares of the technology company’s stock after acquiring an additional 6,204 shares during the period. Quest Investment Management LLC’s holdings in Guidewire Software were worth $3,521,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in GWRE. Janney Montgomery Scott LLC lifted its position in Guidewire Software by 3.4% in the third quarter. Janney Montgomery Scott LLC now owns 7,569 shares of the technology company’s stock valued at $798,000 after acquiring an additional 252 shares during the last quarter. California Public Employees Retirement System lifted its position in Guidewire Software by 52.2% in the third quarter. California Public Employees Retirement System now owns 163,422 shares of the technology company’s stock valued at $17,221,000 after acquiring an additional 56,035 shares during the last quarter. Synovus Financial Corp lifted its position in Guidewire Software by 8,836.8% in the third quarter. Synovus Financial Corp now owns 5,094 shares of the technology company’s stock valued at $541,000 after acquiring an additional 5,037 shares during the last quarter. Keybank National Association OH lifted its position in Guidewire Software by 5.6% in the third quarter. Keybank National Association OH now owns 3,208 shares of the technology company’s stock valued at $338,000 after acquiring an additional 171 shares during the last quarter. Finally, First National Bank of Omaha purchased a new stake in Guidewire Software in the third quarter valued at $205,000.
A number of brokerages have recently commented on GWRE. Wells Fargo & Co reduced their target price on shares of Guidewire Software from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday. Citigroup upped their target price on shares of Guidewire Software from $97.00 to $115.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Needham & Company LLC reduced their target price on shares of Guidewire Software from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday. Guggenheim reaffirmed a “buy” rating and issued a $130.00 target price on shares of Guidewire Software in a report on Friday, December 6th. Finally, Robert W. Baird reduced their target price on shares of Guidewire Software from $143.00 to $124.00 and set an “outperform” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Guidewire Software currently has an average rating of “Hold” and an average target price of $114.44.
In other Guidewire Software news, insider James Winston King sold 1,442 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $103.51, for a total transaction of $149,261.42. Following the transaction, the insider now directly owns 4,305 shares in the company, valued at $445,610.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Curtis Smith sold 4,500 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $103.51, for a total transaction of $465,795.00. Following the transaction, the chief financial officer now owns 4,493 shares in the company, valued at $465,070.43. The disclosure for this sale can be found here. Insiders have sold 102,575 shares of company stock worth $11,174,303 over the last 90 days. 0.37% of the stock is currently owned by company insiders.
Shares of Guidewire Software stock traded down $2.31 on Friday, reaching $91.25. 1,865,166 shares of the stock were exchanged, compared to its average volume of 824,875. Guidewire Software Inc has a 1-year low of $86.47 and a 1-year high of $124.16. The company has a current ratio of 7.22, a quick ratio of 7.22 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average price of $114.35 and a two-hundred day moving average price of $110.27. The firm has a market capitalization of $7.73 billion, a PE ratio of 584.75, a PEG ratio of 36.43 and a beta of 1.04.
Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Wednesday, March 4th. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.32. Guidewire Software had a negative net margin of 2.93% and a positive return on equity of 0.84%. The business had revenue of $173.50 million for the quarter, compared to analyst estimates of $163.83 million. During the same period in the previous year, the business posted $0.34 earnings per share. Research analysts expect that Guidewire Software Inc will post -0.15 EPS for the current year.
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.