Exchange Traded Concepts LLC Makes New $712,000 Investment in Guidewire Software, Inc. $GWRE

Exchange Traded Concepts LLC acquired a new stake in shares of Guidewire Software, Inc. (NYSE:GWRE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,096 shares of the technology company’s stock, valued at approximately $712,000.

A number of other hedge funds have also recently modified their holdings of GWRE. Assenagon Asset Management S.A. lifted its position in Guidewire Software by 12.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 150,957 shares of the technology company’s stock valued at $34,699,000 after acquiring an additional 17,151 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Guidewire Software in the 2nd quarter worth $954,000. Lecap Asset Management Ltd. purchased a new position in shares of Guidewire Software in the second quarter worth $1,100,000. Versor Investments LP bought a new position in shares of Guidewire Software during the second quarter valued at $3,295,000. Finally, Rafferty Asset Management LLC bought a new position in shares of Guidewire Software during the first quarter valued at $268,000.

Wall Street Analysts Forecast Growth

GWRE has been the subject of several research analyst reports. DA Davidson upgraded Guidewire Software from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $246.00 to $250.00 in a report on Wednesday, December 17th. Raymond James Financial reiterated an “outperform” rating and issued a $275.00 price target (up from $255.00) on shares of Guidewire Software in a research note on Friday, September 5th. BTIG Research restated a “buy” rating and set a $250.00 price objective on shares of Guidewire Software in a research report on Wednesday, December 17th. Royal Bank Of Canada raised their target price on shares of Guidewire Software from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Finally, The Goldman Sachs Group lifted their target price on shares of Guidewire Software from $270.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Guidewire Software presently has an average rating of “Moderate Buy” and a consensus target price of $271.29.

Insider Transactions at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,400 shares of the business’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $204.95, for a total transaction of $286,930.00. Following the completion of the sale, the chief executive officer owned 237,943 shares of the company’s stock, valued at approximately $48,766,417.85. The trade was a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James Winston King sold 1,860 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $195.00, for a total value of $362,700.00. Following the completion of the transaction, the insider directly owned 33,702 shares in the company, valued at $6,571,890. This trade represents a 5.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 57,140 shares of company stock worth $11,873,354 over the last three months. 0.46% of the stock is currently owned by insiders.

Guidewire Software Price Performance

Shares of NYSE:GWRE opened at $203.68 on Tuesday. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $17.32 billion, a PE ratio of 193.98, a price-to-earnings-growth ratio of 13.46 and a beta of 1.08. The firm’s 50 day moving average price is $216.98 and its 200-day moving average price is $225.92. Guidewire Software, Inc. has a twelve month low of $165.08 and a twelve month high of $272.60.

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

Guidewire Software Company Profile

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.