California State Teachers Retirement System Acquires 18,042 Shares of Guidewire Software, Inc. $GWRE

Key Points

• California State Teachers Retirement System increased its Guidewire Software stake by 22.5% in the first quarter, acquiring 18,042 shares and bringing its total holdings to 98,191 shares valued at approximately $14.7 million.
• Guidewire reported quarterly adjusted earnings of $0.82 per share, exceeding estimates by $0.08, while revenue rose 26.9% year over year to $372.54 million.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $221, despite several recent target reductions. Company insiders sold shares primarily to cover tax obligations from equity awards.

California State Teachers Retirement System grew its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 22.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 98,191 shares of the technology company's stock after purchasing an additional 18,042 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Guidewire Software worth $14,685,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Advisors Asset Management Inc. bought a new position in Guidewire Software during the 1st quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC bought a new stake in Guidewire Software in the third quarter worth $29,000. Flagship Harbor Advisors LLC bought a new stake in Guidewire Software in the fourth quarter worth $36,000. Leonteq Securities AG purchased a new stake in shares of Guidewire Software in the first quarter worth $36,000. Finally, Bogart Wealth LLC grew its stake in shares of Guidewire Software by 127.8% in the first quarter. Bogart Wealth LLC now owns 246 shares of the technology company's stock worth $37,000 after acquiring an additional 138 shares during the last quarter.

Insider Activity at Guidewire Software

In related news, President John P. Mullen sold 4,292 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total transaction of $509,632.08. Following the transaction, the president owned 131,115 shares in the company, valued at $15,568,595.10. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeffrey Elliott Cooper sold 2,594 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $308,011.56. Following the completion of the sale, the chief financial officer owned 63,467 shares in the company, valued at $7,536,071.58. This represents a 3.93% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,993 shares of company stock valued at $3,627,630 over the last ninety days. Company insiders own 0.46% of the company's stock.

Guidewire Software Trading Up 0.1%

Shares of NYSE:GWRE opened at $152.06 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44. Guidewire Software, Inc. has a 1 year low of $102.30 and a 1 year high of $272.60. The company has a market cap of $12.66 billion, a P/E ratio of 82.20 and a beta of 0.92. The stock's fifty day moving average price is $134.64 and its 200-day moving average price is $140.38.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.74 by $0.08. The company had revenue of $372.54 million during the quarter, compared to the consensus estimate of $355.92 million. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.Guidewire Software's revenue for the quarter was up 26.9% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. Sell-side analysts expect that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price target on Guidewire Software from $255.00 to $225.00 and set a "buy" rating for the company in a research report on Friday, June 5th. Guggenheim assumed coverage on shares of Guidewire Software in a research report on Thursday, July 23rd. They set a "buy" rating and a $180.00 price objective on the stock. BTIG Research restated a "buy" rating and set a $175.00 price objective on shares of Guidewire Software in a research note on Thursday, July 2nd. Oppenheimer decreased their target price on shares of Guidewire Software from $250.00 to $180.00 and set an "outperform" rating for the company in a report on Monday, May 18th. Finally, Wells Fargo & Company dropped their target price on shares of Guidewire Software from $210.00 to $190.00 and set an "overweight" rating on the stock in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $221.00.

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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