California Public Employees Retirement System Has $16.55 Million Stock Position in Guidewire Software, Inc. $GWRE

California Public Employees Retirement System decreased its position in Guidewire Software, Inc. (NYSE:GWRE) by 26.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 110,644 shares of the technology company’s stock after selling 39,768 shares during the period. California Public Employees Retirement System’s holdings in Guidewire Software were worth $16,548,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GWRE. Advisors Asset Management Inc. bought a new position in Guidewire Software during the first quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new position in Guidewire Software in the third quarter valued at about $29,000. Flagship Harbor Advisors LLC bought a new stake in shares of Guidewire Software in the fourth quarter worth about $36,000. Leonteq Securities AG bought a new stake in shares of Guidewire Software in the first quarter worth about $36,000. Finally, Bogart Wealth LLC raised its position in shares of Guidewire Software by 127.8% during the first quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock worth $37,000 after purchasing an additional 138 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GWRE shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. The Goldman Sachs Group dropped their target price on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Citizens Jmp cut their price target on shares of Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a research note on Friday, June 5th. Finally, Stifel Nicolaus reduced their price target on shares of Guidewire Software from $225.00 to $200.00 and set a “buy” rating for the company in a report on Friday, June 5th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $221.00.

Guidewire Software Stock Performance

GWRE opened at $131.33 on Friday. The business’s 50-day moving average price is $132.71 and its two-hundred day moving average price is $141.71. Guidewire Software, Inc. has a 1 year low of $102.30 and a 1 year high of $272.60. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 70.99 and a beta of 0.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The business had revenue of $372.54 million during the quarter, compared to the consensus estimate of $355.92 million. During the same period last year, the company earned $0.88 earnings per share. Guidewire Software’s quarterly revenue was up 26.9% on a year-over-year basis. Equities analysts expect that Guidewire Software, Inc. will post 1.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO David Franklin Peterson sold 246 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $29,210.04. Following the sale, the chief accounting officer owned 12,287 shares in the company, valued at approximately $1,458,958.38. This represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Winston King sold 1,684 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $130.64, for a total value of $219,997.76. Following the sale, the insider owned 30,018 shares in the company, valued at $3,921,551.52. The trade was a 5.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 30,193 shares of company stock valued at $3,792,858 in the last quarter. 0.46% of the stock is currently owned by corporate insiders.

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.