California Public Employees Retirement System Has $16.55 Million Position in Guidewire Software, Inc. $GWRE

Key Points

• CalPERS reduced its stake in Guidewire Software by 26.4% in the first quarter, though it still held 110,644 shares worth about $16.55 million.
• Several insiders sold shares recently, including CEO Michael George Rosenbaum and executive James Winston King; over the past three months, insiders sold 30,193 shares worth about $3.79 million.
• Guidewire reported strong quarterly results and remains well rated by analysts, posting $0.82 EPS and $372.54 million in revenue, both above expectations, while analysts maintain a consensus “Moderate Buy” rating with a $221 price target.

California Public Employees Retirement System decreased its stake in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 26.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 110,644 shares of the technology company's stock after selling 39,768 shares during the period. California Public Employees Retirement System owned 0.13% of Guidewire Software worth $16,548,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new position in shares of Guidewire Software during the 1st quarter worth about $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Guidewire Software during the third quarter worth $29,000. Flagship Harbor Advisors LLC acquired a new stake in Guidewire Software in the 4th quarter valued at about $36,000. Leonteq Securities AG acquired a new stake in shares of Guidewire Software in the first quarter valued at approximately $36,000. Finally, Bogart Wealth LLC lifted its holdings in Guidewire Software by 127.8% during the 1st quarter. Bogart Wealth LLC now owns 246 shares of the technology company's stock worth $37,000 after buying an additional 138 shares in the last quarter.

Insider Buying and Selling

In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,830 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $692,254.20. Following the transaction, the chief executive officer owned 199,776 shares of the company's stock, valued at approximately $23,721,402.24. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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, insider James Winston King sold 1,684 shares of the business's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $130.64, for a total value of $219,997.76. Following the transaction, the insider owned 30,018 shares of the company's stock, valued at $3,921,551.52. The trade was a 5.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 30,193 shares of company stock worth $3,792,858. Corporate insiders own 0.46% of the company's stock.

Guidewire Software Stock Performance

Shares of Guidewire Software stock opened at $131.33 on Friday. The firm has a fifty day moving average of $132.71 and a two-hundred day moving average of $141.71. The stock has a market capitalization of $10.93 billion, a price-to-earnings ratio of 70.99 and a beta of 0.95. Guidewire Software, Inc. has a 52 week low of $102.30 and a 52 week high of $272.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share 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 for the quarter, compared to the consensus estimate of $355.92 million. During the same quarter in the prior year, the business posted $0.88 EPS. The firm's quarterly revenue was up 26.9% on a year-over-year basis. As a group, equities research analysts predict that Guidewire Software, Inc. will post 1.83 EPS for the current year.

Analyst Upgrades and Downgrades

GWRE has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Guidewire Software from $300.00 to $258.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 14th. The Goldman Sachs Group cut their price target on Guidewire Software from $255.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, June 5th. DA Davidson decreased their price target on Guidewire Software from $246.00 to $222.00 and set a "buy" rating on the stock in a report on Monday, June 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Guidewire Software in a report on Wednesday, June 3rd. Finally, Stifel Nicolaus cut their target price 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. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $221.00.

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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