Geode Capital Management LLC Purchases 145,924 Shares of Guidewire Software, Inc. $GWRE

Geode Capital Management LLC boosted its position in Guidewire Software, Inc. (NYSE:GWRE) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,778,201 shares of the technology company’s stock after purchasing an additional 145,924 shares during the quarter. Geode Capital Management LLC owned approximately 2.09% of Guidewire Software worth $357,504,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GWRE. Alliancebernstein L.P. raised its holdings in Guidewire Software by 405.1% in the second quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company’s stock worth $126,743,000 after purchasing an additional 431,725 shares in the last quarter. M&T Bank Corp raised its holdings in Guidewire Software by 4,507.8% in the fourth quarter. M&T Bank Corp now owns 318,675 shares of the technology company’s stock worth $64,057,000 after purchasing an additional 311,759 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Guidewire Software by 112.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 479,859 shares of the technology company’s stock worth $90,036,000 after purchasing an additional 254,142 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in Guidewire Software by 34.4% in the third quarter. Qube Research & Technologies Ltd now owns 982,747 shares of the technology company’s stock worth $225,894,000 after purchasing an additional 251,280 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Guidewire Software by 18.9% in the third quarter. AQR Capital Management LLC now owns 1,271,528 shares of the technology company’s stock worth $292,146,000 after purchasing an additional 202,064 shares in the last quarter.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 4,737 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $163.86, for a total value of $776,204.82. Following the transaction, the chief executive officer owned 221,206 shares in the company, valued at approximately $36,246,815.16. This trade represents a 2.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Elliott Cooper sold 4,757 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $158.72, for a total value of $755,031.04. Following the completion of the transaction, the chief financial officer owned 67,996 shares in the company, valued at $10,792,325.12. The trade was a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 32,479 shares of company stock worth $5,024,174. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Zacks Research downgraded shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Wells Fargo & Company reduced their target price on shares of Guidewire Software from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. Stifel Nicolaus reduced their target price on shares of Guidewire Software from $300.00 to $250.00 and set a “buy” rating for the company in a report on Friday, March 6th. Oppenheimer cut their price objective on shares of Guidewire Software from $250.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, May 18th. Finally, BTIG Research increased their price objective on shares of Guidewire Software from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $244.46.

Guidewire Software Trading Up 12.6%

Guidewire Software stock opened at $171.98 on Tuesday. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 0.45. Guidewire Software, Inc. has a 12 month low of $115.57 and a 12 month high of $272.60. The stock’s 50 day simple moving average is $140.20 and its two-hundred day simple moving average is $162.43. The firm has a market cap of $14.56 billion, a PE ratio of 78.17 and a beta of 0.93.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Thursday, March 5th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.77 by $0.40. Guidewire Software had a return on equity of 13.44% and a net margin of 14.11%.The business had revenue of $359.10 million for the quarter, compared to analyst estimates of $342.88 million. During the same quarter in the prior year, the firm posted $0.51 EPS. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. Analysts anticipate that Guidewire Software, Inc. will post 1.84 earnings per share for the current year.

About Guidewire Software

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.