Deutsche Bank AG purchased a new position in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 338,477 shares of the technology company's stock, valued at approximately $41,650,000. Deutsche Bank AG owned 0.41% of Guidewire Software as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of GWRE. Capital World Investors purchased a new position in shares of Guidewire Software during the 4th quarter worth $202,405,000. Principal Financial Group Inc. raised its stake in shares of Guidewire Software by 547.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company's stock valued at $176,537,000 after acquiring an additional 997,992 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Guidewire Software by 405.1% in the 2nd quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company's stock worth $126,743,000 after acquiring an additional 431,725 shares during the last quarter. Stockbridge Partners LLC raised its holdings in shares of Guidewire Software by 39.0% in the 4th quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company's stock valued at $290,501,000 after buying an additional 405,850 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Guidewire Software by 179.0% in the first quarter. Assenagon Asset Management S.A. now owns 628,759 shares of the technology company's stock valued at $94,037,000 after purchasing an additional 403,370 shares during the period.
Analyst Ratings Changes
A number of equities research analysts have issued reports on GWRE shares. Stifel Nicolaus reduced their target price on shares of Guidewire Software from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Friday, June 5th. Zacks Research cut Guidewire Software from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Guggenheim initiated coverage on Guidewire Software in a research report on Thursday, July 23rd. They issued a "buy" rating and a $180.00 price target on the stock. The Goldman Sachs Group decreased their price objective on Guidewire Software from $255.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, June 5th. Finally, Piper Sandler assumed coverage on shares of Guidewire Software in a research note on Monday, August 10th. They set an "overweight" rating and a $210.00 target price on the stock. 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 data from MarketBeat, Guidewire Software presently has a consensus rating of "Moderate Buy" and an average price target of $221.64.
View Our Latest Report on Guidewire Software
Insider Buying and Selling
In other Guidewire Software news, insider James Winston King sold 1,684 shares of the company's stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $130.64, for a total transaction of $219,997.76. Following the completion of the sale, the insider directly owned 30,018 shares of the company's stock, valued at $3,921,551.52. This represents a 5.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael George Rosenbaum sold 5,830 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $692,254.20. Following the sale, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last ninety days, insiders sold 44,593 shares of company stock worth $6,572,106. Corporate insiders own 0.46% of the company's stock.
Guidewire Software Price Performance
Shares of GWRE opened at $189.19 on Friday. The firm has a fifty day moving average price of $144.61 and a 200 day moving average price of $141.87. 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 stock has a market cap of $15.75 billion, a PE ratio of 102.26 and a beta of 0.92.
Guidewire Software (NYSE:GWRE - Get Free Report) last announced its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) 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 firm had revenue of $372.54 million during the quarter, compared to analysts' expectations of $355.92 million. During the same period in the prior year, the firm earned $0.88 EPS. The business's revenue was up 26.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Guidewire Software, Inc. will post 1.83 EPS for the current year.
Guidewire Software Profile
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Free Report)
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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