Commerce Bank Purchases Shares of 21,429 Guidewire Software, Inc. $GWRE

Key Points

• Commerce Bank initiated a position in Guidewire Software during the second quarter, purchasing 21,429 shares valued at approximately $2.64 million. Other institutional investors also increased or initiated holdings.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $221.64, despite several firms recently lowering their targets.
• Guidewire reported quarterly revenue of $372.54 million, up 26.9% year over year, and adjusted earnings of $0.82 per share, exceeding analyst expectations. Meanwhile, insiders sold 44,593 shares worth roughly $6.63 million over the past 90 days.

Commerce Bank purchased a new stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 21,429 shares of the technology company's stock, valued at approximately $2,637,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Measured Wealth Private Client Group LLC acquired a new stake in Guidewire Software in the 3rd quarter valued at approximately $29,000. Advisors Asset Management Inc. acquired a new position in Guidewire Software during the 1st quarter worth approximately $25,000. Leonteq Securities AG acquired a new position in Guidewire Software during the 1st quarter worth approximately $36,000. Bogart Wealth LLC grew its stake in shares of 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 acquiring an additional 138 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of Guidewire Software by 83.0% during the 4th quarter. Harbour Investments Inc. now owns 247 shares of the technology company's stock worth $50,000 after acquiring an additional 112 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. BTIG Research reaffirmed a "buy" rating and issued a $175.00 target price on shares of Guidewire Software in a research report on Thursday, July 2nd. Piper Sandler initiated coverage on shares of Guidewire Software in a research note on Monday, August 10th. They set an "overweight" rating and a $210.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Guidewire Software from $300.00 to $258.00 and set an "overweight" rating on the stock in a report on Tuesday, July 14th. Stifel Nicolaus cut their target price on shares of Guidewire Software from $225.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, June 5th. Finally, Wells Fargo & Company reduced their price target on Guidewire Software from $210.00 to $190.00 and set an "overweight" rating for the company in a report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Guidewire Software has a consensus rating of "Moderate Buy" and a consensus price target of $221.64.

Insider Buying and Selling at Guidewire Software

In other news, President John P. Mullen sold 14,400 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $185.00, for a total transaction of $2,664,000.00. Following the transaction, the president directly owned 116,715 shares of the company's stock, valued at approximately $21,592,275. This trade represents a 10.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey Elliott Cooper sold 2,594 shares of Guidewire Software 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 $308,011.56. Following the completion of the sale, the chief financial officer owned 63,467 shares of the company's stock, valued at approximately $7,536,071.58. The trade was a 3.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 44,593 shares of company stock valued at $6,631,278 over the last ninety days. Company insiders own 0.46% of the company's stock.

Guidewire Software Trading Up 1.4%

GWRE stock opened at $191.82 on Tuesday. 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 company's 50-day simple moving average is $146.04 and its 200 day simple moving average is $142.33. Guidewire Software, Inc. has a 52 week low of $102.30 and a 52 week high of $272.60. The company has a market capitalization of $15.97 billion, a PE ratio of 103.69 and a beta of 0.92.

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

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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