Public Employees Retirement Association of Colorado decreased its stake in shares of Guidewire Software Inc (NYSE:GWRE) by 8.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 181,265 shares of the technology company’s stock after selling 17,000 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.22% of Guidewire Software worth $18,377,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Meritage Group LP acquired a new position in shares of Guidewire Software in the 1st quarter worth approximately $109,020,000. Wasatch Advisors Inc. grew its stake in shares of Guidewire Software by 31.1% in the 1st quarter. Wasatch Advisors Inc. now owns 1,005,733 shares of the technology company’s stock worth $97,717,000 after purchasing an additional 238,659 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Guidewire Software by 11.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,942,670 shares of the technology company’s stock worth $188,749,000 after purchasing an additional 194,763 shares during the last quarter. Jackson Square Partners LLC acquired a new position in shares of Guidewire Software in the 1st quarter worth approximately $15,147,000. Finally, Janus Henderson Group PLC grew its stake in shares of Guidewire Software by 8.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,636,460 shares of the technology company’s stock worth $165,904,000 after purchasing an additional 122,416 shares during the last quarter.
Shares of Guidewire Software stock traded down $1.82 during trading on Wednesday, hitting $94.17. The stock had a trading volume of 6,952 shares, compared to its average volume of 723,526. The stock’s 50 day simple moving average is $100.86. The stock has a market cap of $7.92 billion, a P/E ratio of 1,047.44, a PEG ratio of 29.85 and a beta of 1.18. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.21. Guidewire Software Inc has a 1 year low of $73.82 and a 1 year high of $109.06.
Guidewire Software (NYSE:GWRE) last released its earnings results on Tuesday, June 4th. The technology company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.10. The business had revenue of $162.90 million for the quarter, compared to the consensus estimate of $155.23 million. Guidewire Software had a net margin of 10.66% and a return on equity of 4.76%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. On average, sell-side analysts predict that Guidewire Software Inc will post 0.48 earnings per share for the current year.
Several brokerages have recently issued reports on GWRE. ValuEngine cut shares of Guidewire Software from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Zacks Investment Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Piper Jaffray Companies lifted their price objective on shares of Guidewire Software from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $106.56.
In related news, insider Steven P. Sherry sold 4,716 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $100.52, for a total transaction of $474,052.32. Following the completion of the sale, the insider now directly owns 3,268 shares in the company, valued at $328,499.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Marcus Ryu sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $96.54, for a total transaction of $1,930,800.00. Following the sale, the chief executive officer now owns 22,404 shares of the company’s stock, valued at $2,162,882.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,702 shares of company stock valued at $3,799,748. 0.69% of the stock is currently owned by corporate insiders.
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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