Arrowstreet Capital Limited Partnership Purchases 177,672 Shares of Guidewire Software, Inc. $GWRE

Arrowstreet Capital Limited Partnership lifted its position in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 42.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 598,396 shares of the technology company's stock after buying an additional 177,672 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.71% of Guidewire Software worth $89,496,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GWRE. Advisors Asset Management Inc. purchased a new stake in shares of Guidewire Software during the first quarter worth about $25,000. Amundi grew its stake in Guidewire Software by 703.0% during the second quarter. Amundi now owns 36,093 shares of the technology company's stock valued at $8,220,000 after acquiring an additional 31,598 shares in the last quarter. Jump Financial LLC bought a new stake in Guidewire Software in the 2nd quarter valued at $305,000. Bank of Nova Scotia increased its holdings in Guidewire Software by 30.9% in the 2nd quarter. Bank of Nova Scotia now owns 2,024 shares of the technology company's stock valued at $477,000 after acquiring an additional 478 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Guidewire Software by 30.6% in the 2nd quarter. NewEdge Advisors LLC now owns 4,911 shares of the technology company's stock worth $1,156,000 after purchasing an additional 1,152 shares in the last quarter.

Analyst Ratings Changes

GWRE has been the topic of a number of research reports. Oppenheimer reduced their price objective 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. Royal Bank Of Canada lowered their target price on Guidewire Software from $250.00 to $215.00 and set an "outperform" rating for the company in a research report on Friday, June 5th. Zacks Research lowered shares of Guidewire Software from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Stifel Nicolaus reduced their price target on shares of Guidewire Software from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, June 5th. Finally, DA Davidson decreased their price target on shares of Guidewire Software from $246.00 to $222.00 and set a "buy" rating on the stock in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $221.00.

Guidewire Software Trading Up 0.1%

GWRE opened at $138.34 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44. The stock's 50 day moving average price is $132.87 and its 200-day moving average price is $141.37. Guidewire Software, Inc. has a one year low of $102.30 and a one year high of $272.60. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 74.78 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 analysts' consensus estimates of $0.74 by $0.08. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The company had revenue of $372.54 million during the quarter, compared to analysts' expectations of $355.92 million. During the same quarter in the previous year, the business earned $0.88 EPS. Guidewire Software's revenue was up 26.9% compared to the same quarter last year. On average, equities analysts forecast that Guidewire Software, Inc. will post 1.83 EPS for the current year.

Insider Activity

In other news, CAO David Franklin Peterson sold 246 shares of the company's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $29,210.04. Following the transaction, the chief accounting officer directly owned 12,287 shares in the company, valued at approximately $1,458,958.38. This represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael George Rosenbaum sold 1,200 shares of the firm's stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $138.47, for a total transaction of $166,164.00. Following the completion of the transaction, the chief executive officer directly owned 194,976 shares in the company, valued at $26,998,326.72. This represents a 0.61% 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. In the last three months, insiders sold 28,993 shares of company stock valued at $3,627,150. Insiders own 0.46% of the company's stock.

Guidewire Software Company 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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