Comerica Bank Acquires 26,912 Shares of Guidewire Software, Inc. $GWRE

Comerica Bank raised its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 52.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,659 shares of the technology company's stock after acquiring an additional 26,912 shares during the quarter. Comerica Bank owned about 0.09% of Guidewire Software worth $15,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GWRE. Advisors Asset Management Inc. bought a new stake in Guidewire Software during the 1st quarter valued at $25,000. Amundi increased its holdings in shares of Guidewire Software by 703.0% in the second quarter. Amundi now owns 36,093 shares of the technology company's stock worth $8,220,000 after purchasing an additional 31,598 shares during the period. Jump Financial LLC bought a new position in shares of Guidewire Software in the second quarter worth $305,000. Bank of Nova Scotia increased its holdings in shares of Guidewire Software by 30.9% in the second quarter. Bank of Nova Scotia now owns 2,024 shares of the technology company's stock worth $477,000 after purchasing an additional 478 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of Guidewire Software by 30.6% in the second 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 during the period.

Guidewire Software Stock Up 1.6%

GWRE opened at $138.83 on Wednesday. The stock has a market cap of $11.75 billion, a PE ratio of 63.10, a P/E/G ratio of 5.89 and a beta of 1.05. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 0.45. Guidewire Software, Inc. has a 52 week low of $115.57 and a 52 week high of $272.60. The business's fifty day simple moving average is $145.02 and its 200 day simple moving average is $177.82.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its quarterly earnings results on Thursday, March 5th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.40. Guidewire Software had a net margin of 14.11% and a return on equity of 13.44%. The business had revenue of $359.10 million during the quarter, compared to analyst estimates of $342.88 million. During the same period in the prior year, the business posted $0.51 earnings per share. The company's revenue was up 24.0% on a year-over-year basis. As a group, research analysts expect that Guidewire Software, Inc. will post 1.84 earnings per share for the current fiscal year.

Guidewire Software announced that its board has initiated a stock repurchase plan on Thursday, January 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 1,935 shares of the company's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $163.86, for a total transaction of $317,069.10. Following the completion of the sale, the chief financial officer directly owned 66,061 shares in the company, valued at $10,824,755.46. This represents a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President John P. Mullen sold 6,576 shares of the company's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $163.86, for a total transaction of $1,077,543.36. Following the sale, the president owned 135,407 shares of the company's stock, valued at approximately $22,187,791.02. The trade was a 4.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 31,279 shares of company stock valued at $4,841,198. 0.46% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Guidewire Software from $250.00 to $210.00 and set an "overweight" rating on the stock in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Guidewire Software in a report on Thursday, January 22nd. Stifel Nicolaus decreased their price target on shares of Guidewire Software from $300.00 to $250.00 and set a "buy" rating on the stock in a report on Friday, March 6th. Oppenheimer decreased their price target on shares of Guidewire Software from $300.00 to $250.00 and set an "outperform" rating on the stock in a report on Tuesday, February 24th. Finally, Zacks Research raised shares of Guidewire Software from a "hold" rating to a "strong-buy" rating in a report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $249.85.

About Guidewire Software

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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