Federated Hermes Inc. Raises Stock Position in Guidewire Software, Inc. $GWRE

Federated Hermes Inc. grew its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 15.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 502,084 shares of the technology company’s stock after acquiring an additional 67,353 shares during the period. Federated Hermes Inc.’s holdings in Guidewire Software were worth $118,216,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GWRE. Advisors Asset Management Inc. bought a new position in Guidewire Software in the first quarter worth approximately $25,000. Quarry LP bought a new stake in Guidewire Software during the 1st quarter valued at $28,000. Rise Advisors LLC purchased a new stake in shares of Guidewire Software in the 1st quarter worth $31,000. Westside Investment Management Inc. bought a new position in shares of Guidewire Software during the 2nd quarter worth $32,000. Finally, Brooklyn Investment Group increased its stake in shares of Guidewire Software by 38.3% during the first quarter. Brooklyn Investment Group now owns 224 shares of the technology company’s stock valued at $42,000 after buying an additional 62 shares during the period.

Guidewire Software Stock Performance

Shares of Guidewire Software stock opened at $210.74 on Monday. The company has a market capitalization of $17.92 billion, a PE ratio of 200.71, a P/E/G ratio of 12.94 and a beta of 1.08. The company has a 50-day simple moving average of $228.24 and a two-hundred day simple moving average of $229.15. Guidewire Software, Inc. has a one year low of $165.08 and a one year high of $272.60. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.48 and a current ratio of 3.48.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. The business had revenue of $332.64 million for the quarter, compared to analysts’ expectations of $316.62 million. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The company’s revenue was up 26.5% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS. Research analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GWRE has been the subject of several recent research reports. Wall Street Zen downgraded Guidewire Software from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Citigroup raised their target price on shares of Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday. Oppenheimer boosted their price target on shares of Guidewire Software from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Wells Fargo & Company increased their price objective on shares of Guidewire Software from $265.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Finally, DA Davidson reissued a “neutral” rating and set a $250.00 price objective on shares of Guidewire Software in a report on Monday, December 1st. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $272.25.

Insiders Place Their Bets

In other news, CFO Jeffrey Elliott Cooper sold 14,103 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $242.87, for a total transaction of $3,425,195.61. Following the transaction, the chief financial officer directly owned 84,646 shares of the company’s stock, valued at approximately $20,557,974.02. This represents a 14.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO David Franklin Peterson sold 1,811 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $242.87, for a total value of $439,837.57. Following the sale, the chief accounting officer owned 14,164 shares of the company’s stock, valued at approximately $3,440,010.68. This represents a 11.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 110,942 shares of company stock valued at $26,748,168. 0.46% of the stock is currently owned by company insiders.

About Guidewire Software

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.