Advisors Capital Management LLC Takes $7.23 Million Position in Guidewire Software, Inc. $GWRE

Advisors Capital Management LLC bought a new stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 58,744 shares of the technology company's stock, valued at approximately $7,228,000. Advisors Capital Management LLC owned approximately 0.07% of Guidewire Software at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of GWRE. Comerica Bank raised its stake in shares of Guidewire Software by 52.0% in the fourth quarter. Comerica Bank now owns 78,659 shares of the technology company's stock valued at $15,811,000 after acquiring an additional 26,912 shares in the last quarter. Principal Financial Group Inc. grew its stake in Guidewire Software by 547.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company's stock worth $176,537,000 after purchasing an additional 997,992 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in Guidewire Software by 3.0% during the 1st quarter. Stephens Investment Management Group LLC now owns 524,818 shares of the technology company's stock worth $78,492,000 after purchasing an additional 15,260 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 worth $357,504,000 after purchasing an additional 145,924 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in Guidewire Software during the 1st quarter worth about $6,087,000.

Insider Activity at Guidewire Software

In other news, insider James Winston King sold 1,684 shares of Guidewire Software stock in a transaction that occurred on 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 directly owned 30,018 shares in the company, valued at approximately $3,921,551.52. This trade represents a 5.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President John P. Mullen sold 14,400 shares of Guidewire Software stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $185.00, for a total value of $2,664,000.00. Following the transaction, the president directly owned 116,715 shares of the company's stock, valued at approximately $21,592,275. This represents a 10.98% decrease in their ownership of the stock. 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 44,593 shares of company stock valued at $6,572,106 over the last 90 days. Company insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Guidewire Software in a report on Wednesday, June 3rd. The Goldman Sachs Group cut their target price on Guidewire Software from $255.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, June 5th. Guggenheim initiated coverage on Guidewire Software in a research note on Thursday, July 23rd. They set a "buy" rating and a $180.00 target price for the company. Citizens Jmp lowered their price target on Guidewire Software from $300.00 to $220.00 and set a "market outperform" rating for the company in a report on Friday, June 5th. Finally, Royal Bank Of Canada dropped their price target on shares of Guidewire Software from $250.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $221.64.

Guidewire Software Stock Up 0.5%

Guidewire Software stock opened at $182.11 on Friday. Guidewire Software, Inc. has a twelve month low of $102.30 and a twelve month high of $272.60. The stock has a 50 day moving average of $143.28 and a two-hundred day moving average of $141.54. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $15.16 billion, a price-to-earnings ratio of 98.44 and a beta of 0.92.

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 for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $355.92 million. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The business's quarterly revenue was up 26.9% compared to the same quarter last year. As a group, research analysts expect that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

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.

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