Arrowstreet Capital Limited Partnership Raises Holdings in Guidewire Software, Inc. $GWRE

Arrowstreet Capital Limited Partnership increased its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 42.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 598,396 shares of the technology company’s stock after buying an additional 177,672 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Guidewire Software were worth $89,496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GWRE. American Trust boosted its holdings in shares of Guidewire Software by 3.9% in the 3rd quarter. American Trust now owns 1,632 shares of the technology company’s stock valued at $375,000 after buying an additional 61 shares in the last quarter. Vident Advisory LLC boosted its position in shares of Guidewire Software by 1.7% in the 3rd quarter. Vident Advisory LLC now owns 4,074 shares of the technology company’s stock worth $936,000 after purchasing an additional 70 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Guidewire Software by 18.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 505 shares of the technology company’s stock worth $102,000 after buying an additional 78 shares during the last quarter. DMC Group LLC grew its stake in Guidewire Software by 6.5% during the 4th quarter. DMC Group LLC now owns 1,595 shares of the technology company’s stock worth $321,000 after buying an additional 98 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC increased its position in Guidewire Software by 9.9% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 1,085 shares of the technology company’s stock valued at $218,000 after buying an additional 98 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Guggenheim began coverage on Guidewire Software in a research note on Thursday. They issued a “buy” rating and a $180.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research note on Wednesday, June 3rd. Stifel Nicolaus cut their price objective on shares of Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Citizens Jmp decreased their price objective on shares of Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Guidewire Software from $300.00 to $258.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Guidewire Software presently has an average rating of “Moderate Buy” and a consensus target price of $221.00.

Insiders Place Their Bets

In related news, CAO David Franklin Peterson sold 246 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total transaction of $29,210.04. Following the completion of the transaction, the chief accounting officer owned 12,287 shares of the company’s stock, valued at $1,458,958.38. This trade represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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, CFO Jeffrey Elliott Cooper sold 1,348 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $105.67, for a total transaction of $142,443.16. Following the transaction, the chief financial officer owned 62,119 shares of the company’s stock, valued at $6,564,114.73. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 28,993 shares of company stock worth $3,627,150. Company insiders own 0.46% of the company’s stock.

Guidewire Software Trading Up 0.1%

Guidewire Software stock opened at $138.34 on Monday. The stock has a 50-day moving average price of $132.87 and a 200 day moving average price of $141.37. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 74.78 and a beta of 0.95. Guidewire Software, Inc. has a 52 week low of $102.30 and a 52 week high of $272.60. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51.

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