Guidewire Software, Inc. (NYSE:GWRE) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 7.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,935 shares of the technology company’s stock after purchasing an additional 573 shares during the quarter. QRG Capital Management Inc.’s holdings in Guidewire Software were worth $1,487,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GWRE. Jackson Square Capital LLC purchased a new position in Guidewire Software during the first quarter worth about $2,459,000. Elevation Point Wealth Partners LLC purchased a new stake in Guidewire Software in the 1st quarter valued at about $579,000. NorthCrest Asset Manangement LLC increased its stake in shares of Guidewire Software by 14.7% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 1,431 shares of the technology company’s stock valued at $268,000 after acquiring an additional 183 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Guidewire Software by 16.4% during the 1st quarter. Fifth Third Bancorp now owns 569 shares of the technology company’s stock worth $107,000 after acquiring an additional 80 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Guidewire Software by 46.5% in the first quarter. GAMMA Investing LLC now owns 1,390 shares of the technology company’s stock worth $260,000 after acquiring an additional 441 shares during the last quarter.

Insider Activity

In other Guidewire Software news, Director Michael C. Keller sold 860 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $254.53, for a total transaction of $218,895.80. Following the completion of the sale, the director now owns 11,410 shares in the company, valued at $2,904,187.30. This trade represents a 7.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael George Rosenbaum sold 1,400 shares of Guidewire Software stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $167.82, for a total value of $234,948.00. Following the sale, the chief executive officer now owns 258,593 shares in the company, valued at $43,397,077.26. This represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,160 shares of company stock worth $3,482,079. 0.48% of the stock is currently owned by company insiders.

Guidewire Software Trading Down 0.6%

Shares of GWRE opened at $246.75 on Friday. Guidewire Software, Inc. has a 12 month low of $132.01 and a 12 month high of $263.20. The stock’s 50-day moving average is $216.90 and its two-hundred day moving average is $198.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.23 and a quick ratio of 3.23. The stock has a market cap of $20.77 billion, a PE ratio of 616.88, a P/E/G ratio of 24.24 and a beta of 1.15.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.47 by $0.41. Guidewire Software had a return on equity of 6.96% and a net margin of 3.04%. The firm had revenue of $293.51 million for the quarter, compared to analyst estimates of $286.40 million. During the same period in the previous year, the company posted $0.26 EPS. Guidewire Software’s revenue for the quarter was up 22.0% on a year-over-year basis. Equities analysts forecast that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Guidewire Software from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. upped their price objective on Guidewire Software from $231.00 to $271.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. Oppenheimer increased their target price on Guidewire Software from $230.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. Wall Street Zen raised Guidewire Software from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, JMP Securities raised their price objective on Guidewire Software from $250.00 to $281.00 and gave the stock a “market outperform” rating in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $247.00.

Guidewire Software Company Profile

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.