Bank of Nova Scotia Has $290,000 Stake in Guidewire Software, Inc. (NYSE:GWRE)

Key Points

• Bank of Nova Scotia has completely exited its position in Guidewire Software, selling 4,687,264 shares and retaining only 1,546 shares valued at $290,000.
• Several institutional investors, including SBI Securities and MassMutual Private Wealth, have significantly increased their stakes in Guidewire Software during the same quarter.
• Guidewire Software's recent earnings report revealed a profit of $0.88 per share, surpassing expectations and marking a 22% revenue increase year-over-year.

Bank of Nova Scotia decreased its holdings in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 100.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,546 shares of the technology company's stock after selling 4,687,264 shares during the quarter. Bank of Nova Scotia's holdings in Guidewire Software were worth $290,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its stake in shares of Guidewire Software by 403.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 131 shares of the technology company's stock valued at $25,000 after buying an additional 105 shares in the last quarter. Ossiam bought a new stake in shares of Guidewire Software in the 4th quarter worth about $29,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Guidewire Software by 70.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company's stock worth $32,000 after purchasing an additional 70 shares during the last quarter. Dunhill Financial LLC bought a new stake in shares of Guidewire Software in the 1st quarter worth about $33,000. Finally, Colonial Trust Co SC grew its holdings in shares of Guidewire Software by 176.0% in the 4th quarter. Colonial Trust Co SC now owns 287 shares of the technology company's stock worth $48,000 after purchasing an additional 183 shares during the last quarter.

Guidewire Software Trading Down 0.6%

Shares of NYSE GWRE traded down $1.17 during mid-day trading on Tuesday, hitting $207.75. The company's stock had a trading volume of 578,189 shares, compared to its average volume of 979,366. The stock has a market cap of $17.49 billion, a price-to-earnings ratio of 519.36, a price-to-earnings-growth ratio of 15.04 and a beta of 1.16. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.23 and a quick ratio of 3.23. Guidewire Software, Inc. has a one year low of $142.94 and a one year high of $263.20. The company's fifty day simple moving average is $232.42 and its 200-day simple moving average is $211.54.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.41. The company had revenue of $293.51 million for the quarter, compared to analyst estimates of $286.40 million. Guidewire Software had a net margin of 3.04% and a return on equity of 6.96%. The company's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. On average, sell-side analysts anticipate that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Activity at Guidewire Software

In other Guidewire Software news, insider James Winston King sold 2,482 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $220.65, for a total transaction of $547,653.30. Following the sale, the insider directly owned 37,441 shares in the company, valued at approximately $8,261,356.65. This trade represents a 6.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President John P. Mullen sold 3,000 shares of Guidewire Software stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $223.28, for a total transaction of $669,840.00. Following the completion of the sale, the president owned 143,489 shares in the company, valued at $32,038,223.92. This trade represents a 2.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,742 shares of company stock worth $5,870,207 in the last ninety days. Company insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

GWRE has been the topic of several analyst reports. DA Davidson reaffirmed a "neutral" rating and issued a $226.00 target price on shares of Guidewire Software in a report on Wednesday, June 4th. Citigroup upped their target price on shares of Guidewire Software from $199.00 to $247.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Bank of America upped their target price on shares of Guidewire Software from $135.00 to $160.00 and gave the stock an "underperform" rating in a report on Wednesday, June 4th. Oppenheimer upped their target price on shares of Guidewire Software from $230.00 to $275.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, Raymond James Financial increased their price objective on shares of Guidewire Software from $225.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Guidewire Software has a consensus rating of "Moderate Buy" and a consensus target price of $250.92.

Guidewire Software Profile

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.