Bank of Nova Scotia acquired a new stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 45,090 shares of the technology company's stock, valued at approximately $5,548,000. Bank of Nova Scotia owned 0.05% of Guidewire Software as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. Commerce Bank purchased a new stake in shares of Guidewire Software in the second quarter valued at about $2,637,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Guidewire Software in the second quarter valued at about $1,561,000. Evolve Private Wealth LLC acquired a new stake in Guidewire Software in the second quarter valued at about $215,000. William Blair Investment Management LLC acquired a new stake in Guidewire Software in the second quarter valued at about $74,989,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Guidewire Software in the 2nd quarter valued at approximately $527,000.
Insider Buying and Selling
In other Guidewire Software news, 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 sale, the insider directly owned 30,018 shares of the company's stock, valued at $3,921,551.52. This trade represents a 5.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $187.82, for a total transaction of $225,384.00. Following the sale, the chief executive officer owned 187,776 shares of the company's stock, valued at approximately $35,268,088.32. This trade represents a 0.64% 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. In the last quarter, insiders sold 44,593 shares of company stock worth $6,631,278. 0.46% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research firms have recently commented on GWRE. BTIG Research reissued a "buy" rating and issued a $175.00 price target on shares of Guidewire Software in a report on Thursday, July 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Guidewire Software in a report on Wednesday, June 3rd. DA Davidson cut their price objective on Guidewire Software from $246.00 to $222.00 and set a "buy" rating for the company in a research report on Monday, June 8th. Guggenheim began coverage on Guidewire Software in a report on Thursday, July 23rd. They issued a "buy" rating and a $180.00 target price for the company. Finally, Zacks Research lowered shares of Guidewire Software from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Guidewire Software has a consensus rating of "Moderate Buy" and an average target price of $221.64.
Read Our Latest Report on GWRE
Guidewire Software Stock Down 1.6%
Shares of NYSE GWRE opened at $188.77 on Wednesday. The firm's 50-day moving average is $147.47 and its two-hundred day moving average is $142.73. The company has a market capitalization of $15.72 billion, a PE ratio of 102.04 and a beta of 0.92. Guidewire Software, Inc. has a 12-month low of $102.30 and a 12-month high of $272.60. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The business had revenue of $372.54 million during the quarter, compared to analysts' expectations of $355.92 million. During the same period last year, the company posted $0.88 EPS. The company's revenue was up 26.9% on a year-over-year basis. Equities analysts anticipate that Guidewire Software, Inc. will post 1.83 EPS for the current fiscal year.
Guidewire Software Company Profile
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Free Report)
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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