Algert Global LLC Purchases 27,859 Shares of Guidewire Software, Inc. $GWRE

Key Points

• Algert Global LLC boosted its stake in Guidewire Software (NYSE:GWRE) by 80.8% in Q3, purchasing 27,859 shares to hold 62,322 shares valued at about $14.33 million.
• Guidewire beat expectations for the quarter with $1.17 EPS vs. $0.77 consensus and revenue of $359.1 million versus $342.9 million, a 24% year-over-year increase.
• The company's Board authorized a $500 million share repurchase program (about 3.1% of shares outstanding), signaling management believes the stock may be undervalued.

Algert Global LLC increased its position in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 80.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,322 shares of the technology company's stock after buying an additional 27,859 shares during the period. Algert Global LLC owned 0.07% of Guidewire Software worth $14,325,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in shares of Guidewire Software in the first quarter valued at approximately $25,000. Root Financial Partners LLC bought a new position in Guidewire Software during the third quarter worth $29,000. Newbridge Financial Services Group Inc. bought a new position in Guidewire Software during the second quarter worth $30,000. Cornerstone Planning Group LLC raised its stake in Guidewire Software by 620.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 144 shares of the technology company's stock valued at $34,000 after purchasing an additional 124 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. bought a new stake in Guidewire Software in the 3rd quarter valued at $35,000.

Guidewire Software Trading Up 1.9%

GWRE stock opened at $160.56 on Friday. The business has a fifty day moving average price of $150.75 and a 200 day moving average price of $198.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.93 and a quick ratio of 3.48. Guidewire Software, Inc. has a fifty-two week low of $120.37 and a fifty-two week high of $272.60. The stock has a market capitalization of $13.59 billion, a price-to-earnings ratio of 72.98, a P/E/G ratio of 10.35 and a beta of 1.06.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its quarterly earnings data on Thursday, March 5th. The technology company reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.40. The company had revenue of $359.10 million for the quarter, compared to analyst estimates of $342.88 million. Guidewire Software had a return on equity of 13.44% and a net margin of 14.11%.The business's revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Guidewire Software announced that its Board of Directors has authorized a share repurchase plan on Thursday, January 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at Guidewire Software

In other Guidewire Software news, insider James Winston King sold 1,860 shares of the firm's stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $195.00, for a total value of $362,700.00. Following the completion of the sale, the insider owned 33,702 shares in the company, valued at approximately $6,571,890. This trade represents a 5.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey Elliott Cooper sold 4,757 shares of the business's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $158.72, for a total transaction of $755,031.04. Following the completion of the transaction, the chief financial officer directly owned 67,996 shares of the company's stock, valued at approximately $10,792,325.12. This represents a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 47,317 shares of company stock worth $8,637,929 in the last 90 days. Corporate insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GWRE. Citizens Jmp reissued a "market outperform" rating and set a $281.00 target price on shares of Guidewire Software in a research report on Wednesday, December 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Guidewire Software in a report on Thursday, January 22nd. DA Davidson reissued a "buy" rating and set a $246.00 price objective on shares of Guidewire Software in a report on Tuesday, March 10th. Wells Fargo & Company lowered their price objective on Guidewire Software from $250.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 4th. Finally, Oppenheimer cut their target price on Guidewire Software from $300.00 to $250.00 and set an "outperform" rating for the company in a research note on Tuesday, February 24th. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $249.85.

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.

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