9,584 Shares in Guidewire Software, Inc. $GWRE Bought by WCM Investment Management LLC

Key Points

• WCM Investment Management opened a new position in Guidewire Software, buying 9,584 shares in the first quarter worth about $1.39 million.
• Guidewire shares were trading down 4.3% at $142.74, and the stock has ranged from $102.30 to $272.60 over the past year.
• The company beat quarterly expectations, reporting $0.82 EPS versus $0.74 expected and revenue of $372.5 million, while analysts currently hold a Moderate Buy consensus with a $224.42 target price.

WCM Investment Management LLC bought a new stake in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,584 shares of the technology company's stock, valued at approximately $1,389,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. IFP Advisors Inc lifted its stake in Guidewire Software by 4.6% in the 3rd quarter. IFP Advisors Inc now owns 1,104 shares of the technology company's stock worth $254,000 after purchasing an additional 49 shares in the last quarter. American Trust grew its position in shares of Guidewire Software by 3.9% during the third quarter. American Trust now owns 1,632 shares of the technology company's stock valued at $375,000 after purchasing an additional 61 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of Guidewire Software by 1.7% in the third quarter. Vident Advisory LLC now owns 4,074 shares of the technology company's stock worth $936,000 after purchasing an additional 70 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Guidewire Software by 18.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 505 shares of the technology company's stock worth $102,000 after purchasing an additional 78 shares during the last quarter. Finally, Wedmont Private Capital lifted its position in shares of Guidewire Software by 4.9% in the fourth quarter. Wedmont Private Capital now owns 2,033 shares of the technology company's stock worth $382,000 after buying an additional 95 shares in the last quarter.

Guidewire Software Trading Down 4.3%

Shares of NYSE GWRE opened at $142.74 on Wednesday. The business's 50 day moving average is $132.39 and its two-hundred day moving average is $142.58. 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 stock has a market capitalization of $11.88 billion, a P/E ratio of 77.16 and a beta of 0.95.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue for the quarter was up 26.9% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. As a group, research analysts expect that Guidewire Software, Inc. will post 1.83 EPS for the current year.

Insider Activity at Guidewire Software

In other Guidewire Software news, President John P. Mullen sold 4,292 shares of the business'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 $509,632.08. Following the transaction, the president owned 131,115 shares in the company, valued at $15,568,595.10. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 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 completion of the sale, the chief financial officer directly owned 62,119 shares in the company, valued at approximately $6,564,114.73. This represents a 2.12% 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. Insiders have sold a total of 30,193 shares of company stock worth $3,792,858 in the last ninety days. Corporate insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on GWRE. JPMorgan Chase & Co. cut their price target on Guidewire Software from $300.00 to $258.00 and set an "overweight" rating for the company in a report on Tuesday, July 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Guidewire Software in a report on Wednesday, June 3rd. Oppenheimer lowered their target price on Guidewire Software from $250.00 to $180.00 and set an "outperform" rating for the company in a research report on Monday, May 18th. The Goldman Sachs Group cut their target price on shares of Guidewire Software from $255.00 to $225.00 and set a "buy" rating for the company in a report on Friday, June 5th. Finally, BTIG Research restated a "buy" rating and issued a $175.00 price target on shares of Guidewire Software in a research report on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $224.42.

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.