13,690 Shares in Guidewire Software, Inc. $GWRE Bought by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 13,690 Guidewire Software shares worth approximately $1.685 million in the second quarter. Several other institutional investors also increased or initiated positions.
• Guidewire reported quarterly EPS of $0.82, exceeding the $0.74 analyst estimate, while revenue reached $372.54 million and rose 26.9% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $221.64, although insiders sold 44,593 shares worth about $6.57 million over the past 90 days.

B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,690 shares of the technology company's stock, valued at approximately $1,685,000.

A number of other hedge funds have also made changes to their positions in the stock. Advisors Asset Management Inc. acquired a new position in Guidewire Software during the first quarter valued at approximately $25,000. Amundi boosted its holdings in shares of Guidewire Software by 703.0% during the 2nd quarter. Amundi now owns 36,093 shares of the technology company's stock worth $8,220,000 after buying an additional 31,598 shares during the period. Jump Financial LLC acquired a new position in Guidewire Software in the 2nd quarter valued at $305,000. Bank of Nova Scotia grew its stake in Guidewire Software by 30.9% in the 2nd quarter. Bank of Nova Scotia now owns 2,024 shares of the technology company's stock valued at $477,000 after buying an additional 478 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Guidewire Software by 30.6% in the 2nd quarter. NewEdge Advisors LLC now owns 4,911 shares of the technology company's stock worth $1,156,000 after acquiring an additional 1,152 shares during the period.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $189.19 on Monday. The firm has a fifty day moving average of $144.61 and a 200-day moving average of $141.89. The stock has a market cap of $15.75 billion, a price-to-earnings ratio of 102.26 and a beta of 0.92. Guidewire Software, Inc. has a 52-week low of $102.30 and a 52-week high of $272.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its earnings results 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. The business had revenue of $372.54 million during the quarter, compared to analysts' expectations of $355.92 million. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.Guidewire Software's quarterly revenue was up 26.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. On average, equities research analysts forecast that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GWRE shares. Zacks Research lowered Guidewire Software from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Oppenheimer increased their target price on Guidewire Software from $180.00 to $200.00 and gave the company an "outperform" rating in a research note on Monday, August 17th. JPMorgan Chase & Co. lowered their target price on Guidewire Software from $300.00 to $258.00 and set an "overweight" rating on the stock in a report on Tuesday, July 14th. Wells Fargo & Company dropped their price target on Guidewire Software from $210.00 to $190.00 and set an "overweight" rating on the stock in a research report on Friday, June 5th. Finally, DA Davidson cut their price target on Guidewire Software from $246.00 to $222.00 and set a "buy" rating for the company in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Guidewire Software currently has an average rating of "Moderate Buy" and an average price target of $221.64.

Insider Buying and Selling

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 1,348 shares of the business'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 $142,443.16. Following the transaction, the chief financial officer owned 62,119 shares of the company's stock, valued at approximately $6,564,114.73. The trade was a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Winston King sold 1,684 shares of the firm's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $130.64, for a total transaction of $219,997.76. Following the completion of the sale, the insider owned 30,018 shares of the company's stock, valued at $3,921,551.52. The trade was a 5.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 44,593 shares of company stock valued at $6,572,106. 0.46% of the stock is currently owned by 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.

Want to see what other hedge funds are holding GWRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Guidewire Software, Inc. (NYSE:GWRE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source