Assenagon Asset Management S.A. Boosts Holdings in Guidewire Software, Inc. $GWRE

Assenagon Asset Management S.A. raised its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 179.0% during the first quarter, HoldingsChannel reports. The fund owned 628,759 shares of the technology company’s stock after acquiring an additional 403,370 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Guidewire Software were worth $94,037,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GWRE. Rockefeller Capital Management L.P. boosted its stake in shares of Guidewire Software by 59.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 13,709 shares of the technology company’s stock worth $2,756,000 after purchasing an additional 5,104 shares during the period. DUTCH ASSET Corp bought a new position in Guidewire Software during the 4th quarter valued at about $570,000. Corient Private Wealth LLC raised its position in Guidewire Software by 36.9% in the 4th quarter. Corient Private Wealth LLC now owns 10,820 shares of the technology company’s stock worth $2,177,000 after purchasing an additional 2,915 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Guidewire Software by 471.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 497 shares of the technology company’s stock worth $100,000 after purchasing an additional 410 shares during the period. Finally, MidFirst Bank bought a new stake in Guidewire Software in the fourth quarter worth about $212,000.

Guidewire Software Trading Up 0.8%

Shares of GWRE opened at $110.53 on Thursday. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 59.75 and a beta of 0.93. 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, Inc. has a 1-year low of $102.30 and a 1-year high of $272.60. The company has a 50-day moving average of $133.24 and a 200 day moving average of $151.51.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. The business had revenue of $372.54 million for the quarter, compared to the consensus estimate of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS. On average, research analysts expect that Guidewire Software, Inc. will post 1.83 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citizens Jmp dropped their target price on 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. Stifel Nicolaus reduced their price target on Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Wells Fargo & Company decreased their price target on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. The Goldman Sachs Group dropped their price objective on Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a report on Friday, June 5th. Finally, DA Davidson cut their price objective on Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.64.

Insider Transactions at Guidewire Software

In related news, insider James Winston King sold 999 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $118,621.26. Following the transaction, the insider owned 31,702 shares of the company’s stock, valued at $3,764,295.48. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael George Rosenbaum sold 1,200 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $105.67, for a total value of $126,804.00. Following the transaction, the chief executive officer owned 198,576 shares in the company, valued at $20,983,525.92. The trade was a 0.60% decrease in their ownership of the stock. 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 29,709 shares of company stock valued at $3,740,332 in the last ninety days. Corporate insiders own 0.46% of the company’s stock.

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.