136,991 Shares in Guidewire Software, Inc. $GWRE Bought by Norges Bank

Key Points

• Norges Bank bought 136,991 shares of Guidewire Software in the fourth quarter, a position worth about $27.5 million and equal to roughly 0.16% of the company.
• Guidewire reported better-than-expected quarterly results, with earnings of $0.82 per share versus $0.74 expected and revenue of $372.54 million, up 26.9% year over year.
• The stock fell 1.9% to $124.75 as analysts largely stayed positive but trimmed targets; the consensus rating remains Moderate Buy with a target price of $229.

Norges Bank bought a new position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 136,991 shares of the technology company's stock, valued at approximately $27,537,000. Norges Bank owned approximately 0.16% of Guidewire Software as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Guidewire Software by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 9,039,377 shares of the technology company's stock valued at $2,077,791,000 after acquiring an additional 116,726 shares in the last quarter. Geode Capital Management LLC lifted its stake in Guidewire Software by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company's stock valued at $357,504,000 after acquiring an additional 145,924 shares in the last quarter. AQR Capital Management LLC lifted its stake in Guidewire Software by 18.9% during the 3rd quarter. AQR Capital Management LLC now owns 1,271,528 shares of the technology company's stock valued at $292,146,000 after acquiring an additional 202,064 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in Guidewire Software by 34.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 982,747 shares of the technology company's stock valued at $225,894,000 after acquiring an additional 251,280 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Guidewire Software by 9.7% during the 3rd quarter. Franklin Resources Inc. now owns 856,487 shares of the technology company's stock valued at $196,872,000 after acquiring an additional 75,955 shares in the last quarter.

Guidewire Software Stock Down 1.9%

GWRE stock opened at $124.75 on Wednesday. The company has a quick ratio of 2.93, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $10.39 billion, a PE ratio of 67.43 and a beta of 0.93. Guidewire Software, Inc. has a twelve month low of $115.57 and a twelve month high of $272.60. The stock has a 50-day simple moving average of $139.19 and a two-hundred day simple moving average of $159.28.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.08. The business had revenue of $372.54 million during the quarter, compared to analyst estimates of $355.92 million. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The company's quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 EPS. On average, equities analysts predict that Guidewire Software, Inc. will post 1.84 EPS for the current fiscal year.

Insider Transactions at Guidewire Software

In related news, President John P. Mullen sold 6,576 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $163.86, for a total value of $1,077,543.36. Following the completion of the sale, the president owned 135,407 shares in the company, valued at $22,187,791.02. The trade was a 4.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jeffrey Elliott Cooper sold 4,757 shares of the business's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $158.72, for a total value of $755,031.04. Following the completion of the sale, the chief financial officer owned 67,996 shares of the company's stock, valued at $10,792,325.12. The trade was a 6.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 33,679 shares of company stock valued at $5,178,014. 0.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Oppenheimer lowered their target price on Guidewire Software from $250.00 to $180.00 and set an "outperform" rating on the stock in a research note on Monday, May 18th. Zacks Research cut Guidewire Software from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of Guidewire Software in a research note on Wednesday, June 3rd. Wells Fargo & Company lowered their target price on Guidewire Software from $210.00 to $190.00 and set an "overweight" rating on the stock in a research note on Friday, June 5th. Finally, DA Davidson lowered their target price on Guidewire Software from $246.00 to $222.00 and set a "buy" rating on the stock in a research note on Monday. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Guidewire Software currently has a consensus rating of "Moderate Buy" and a consensus target price of $229.00.

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.

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