Congress Asset Management Co. Invests $85.45 Million in Guidewire Software, Inc. (NYSE:GWRE)

Congress Asset Management Co. purchased a new position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 456,092 shares of the technology company's stock, valued at approximately $85,453,000. Congress Asset Management Co. owned 0.54% of Guidewire Software at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Guidewire Software by 254.7% during the 4th quarter. Blue Trust Inc. now owns 642 shares of the technology company's stock valued at $117,000 after purchasing an additional 461 shares during the period. Bleakley Financial Group LLC grew its stake in Guidewire Software by 13.4% during the fourth quarter. Bleakley Financial Group LLC now owns 3,389 shares of the technology company's stock valued at $571,000 after acquiring an additional 400 shares in the last quarter. Tobam purchased a new position in Guidewire Software during the fourth quarter valued at $52,000. Empowered Funds LLC purchased a new position in Guidewire Software during the fourth quarter valued at $6,655,000. Finally, Savant Capital LLC grew its stake in Guidewire Software by 1.5% during the fourth quarter. Savant Capital LLC now owns 15,004 shares of the technology company's stock valued at $2,529,000 after acquiring an additional 225 shares in the last quarter.

Insider Transactions at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 1,400 shares of Guidewire Software stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $212.02, for a total transaction of $296,828.00. Following the completion of the sale, the chief executive officer now owns 248,793 shares in the company, valued at $52,749,091.86. This trade represents a 0.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James Winston King sold 1,051 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $189.41, for a total transaction of $199,069.91. Following the completion of the sale, the insider now owns 44,613 shares of the company's stock, valued at approximately $8,450,148.33. This represents a 2.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,671 shares of company stock worth $5,471,104. 0.48% of the stock is currently owned by insiders.

Guidewire Software Trading Down 0.3%

Shares of Guidewire Software stock traded down $0.79 during trading on Friday, hitting $255.36. The stock had a trading volume of 1,577,349 shares, compared to its average volume of 944,305. The firm's fifty day simple moving average is $204.44 and its 200-day simple moving average is $195.49. The stock has a market cap of $21.42 billion, a PE ratio of 709.34, a PEG ratio of 37.21 and a beta of 1.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 2.66. Guidewire Software, Inc. has a 12 month low of $129.90 and a 12 month high of $263.20.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.41. The firm had revenue of $293.51 million during the quarter, compared to analyst estimates of $286.40 million. Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. The business's revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the business earned $0.26 EPS. As a group, sell-side analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GWRE. Needham & Company LLC reaffirmed a "hold" rating on shares of Guidewire Software in a research note on Wednesday. The Goldman Sachs Group raised their target price on shares of Guidewire Software from $235.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday. Raymond James raised their target price on shares of Guidewire Software from $225.00 to $255.00 and gave the company an "outperform" rating in a research note on Wednesday. Oppenheimer raised their target price on shares of Guidewire Software from $230.00 to $275.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Stifel Nicolaus raised their target price on shares of Guidewire Software from $230.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Guidewire Software presently has a consensus rating of "Moderate Buy" and a consensus target price of $247.00.

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.