Wealth Enhancement Advisory Services LLC Increases Stock Position in Guidewire Software, Inc. $GWRE

Wealth Enhancement Advisory Services LLC raised its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 57.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,694 shares of the technology company’s stock after purchasing an additional 18,774 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Guidewire Software were worth $11,735,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Guidewire Software by 2.4% in the second quarter. Vanguard Group Inc. now owns 8,922,651 shares of the technology company’s stock worth $2,100,838,000 after purchasing an additional 211,047 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Guidewire Software by 5.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,578,442 shares of the technology company’s stock worth $372,105,000 after acquiring an additional 84,152 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Guidewire Software by 6.8% during the second quarter. AQR Capital Management LLC now owns 1,069,464 shares of the technology company’s stock valued at $251,677,000 after purchasing an additional 67,851 shares during the period. Groupama Asset Managment grew its stake in Guidewire Software by 240.0% in the 2nd quarter. Groupama Asset Managment now owns 850,000 shares of the technology company’s stock worth $200,132,000 after acquiring an additional 600,000 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Guidewire Software by 4.7% during the 2nd quarter. Franklin Resources Inc. now owns 780,532 shares of the technology company’s stock worth $183,776,000 after purchasing an additional 35,394 shares during the period.

Guidewire Software Stock Up 2.1%

Shares of NYSE:GWRE opened at $160.11 on Friday. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.44. Guidewire Software, Inc. has a twelve month low of $154.51 and a twelve month high of $272.60. The company has a market capitalization of $13.61 billion, a PE ratio of 152.49, a P/E/G ratio of 10.22 and a beta of 1.08. The firm has a 50 day simple moving average of $195.81 and a 200-day simple moving average of $218.00.

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. The company had revenue of $332.64 million for the quarter, compared to analyst estimates of $316.62 million. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. 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. On average, equities analysts predict that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Guidewire Software declared that its board has approved a share repurchase program on Thursday, January 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 216 shares of the company’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $180.87, for a total transaction of $39,067.92. Following the completion of the sale, the chief financial officer directly owned 72,753 shares in the company, valued at $13,158,835.11. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President John P. Mullen sold 7,975 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total value of $1,531,838.00. Following the sale, the president owned 141,983 shares in the company, valued at approximately $27,272,094.64. The trade was a 5.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 51,758 shares of company stock valued at $10,427,033. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wall Street Zen downgraded Guidewire Software from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. DA Davidson raised Guidewire Software from a “neutral” rating to a “buy” rating and boosted their price target for the company from $246.00 to $250.00 in a report on Wednesday, December 17th. Citizens Jmp reissued a “market outperform” rating and issued a $281.00 price objective on shares of Guidewire Software in a report on Wednesday, December 10th. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research report on Thursday. Finally, Zacks Research lowered 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 given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $269.50.

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.