Allspring Global Investments Holdings LLC Invests $51.97 Million in Guidewire Software, Inc. $GWRE

Allspring Global Investments Holdings LLC bought a new stake in Guidewire Software, Inc. (NYSE:GWRE) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 225,717 shares of the technology company’s stock, valued at approximately $51,967,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Merit Financial Group LLC raised its position in Guidewire Software by 11.3% in the 3rd quarter. Merit Financial Group LLC now owns 4,459 shares of the technology company’s stock valued at $1,025,000 after purchasing an additional 454 shares in the last quarter. Calamos Wealth Management LLC purchased a new stake in shares of Guidewire Software during the third quarter worth approximately $282,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Guidewire Software by 13.4% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,766 shares of the technology company’s stock valued at $1,555,000 after acquiring an additional 800 shares in the last quarter. Retireful LLC purchased a new position in Guidewire Software in the third quarter worth approximately $289,000. Finally, Perigon Wealth Management LLC acquired a new position in Guidewire Software during the 3rd quarter worth approximately $262,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GWRE shares. DA Davidson raised shares of 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 research report on Wednesday, December 17th. BTIG Research restated a “buy” rating and issued a $250.00 price target on shares of Guidewire Software in a research note on Wednesday, December 17th. Wells Fargo & Company upped their price objective on Guidewire Software from $265.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. The Goldman Sachs Group raised their target price on Guidewire Software from $270.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Finally, Zacks Research downgraded Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $271.29.

Insider Activity

In other Guidewire Software news, CAO David Franklin Peterson sold 358 shares of Guidewire Software stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $192.08, for a total value of $68,764.64. Following the transaction, the chief accounting officer directly owned 12,806 shares in the company, valued at approximately $2,459,776.48. This trade represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey Elliott Cooper sold 1,232 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $195.00, for a total value of $240,240.00. Following the completion of the transaction, the chief financial officer directly owned 72,969 shares in the company, valued at approximately $14,228,955. The trade was a 1.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 54,140 shares of company stock worth $11,181,164 over the last quarter. 0.46% of the stock is owned by insiders.

Guidewire Software Stock Down 0.7%

GWRE stock opened at $201.03 on Friday. The company has a market cap of $17.09 billion, a price-to-earnings ratio of 191.46, a price-to-earnings-growth ratio of 13.09 and a beta of 1.08. The company has a fifty day moving average price of $213.94 and a 200 day moving average price of $225.22. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.48 and a quick ratio of 3.48. Guidewire Software, Inc. has a 12 month low of $165.08 and a 12 month high of $272.60.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates 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 for 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. Guidewire Software’s quarterly revenue was up 26.5% on a year-over-year basis. Sell-side analysts expect that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Guidewire Software 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.