Elevation Point Wealth Partners LLC Invests $579,000 in Guidewire Software, Inc. (NYSE:GWRE)

Elevation Point Wealth Partners LLC bought a new position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,091 shares of the technology company's stock, valued at approximately $579,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Portside Wealth Group LLC boosted its holdings in Guidewire Software by 148.1% in the 1st quarter. Portside Wealth Group LLC now owns 2,724 shares of the technology company's stock valued at $510,000 after purchasing an additional 1,626 shares during the last quarter. Banco Santander S.A. acquired a new position in Guidewire Software in the fourth quarter valued at approximately $427,000. MGO One Seven LLC acquired a new position in Guidewire Software in the fourth quarter valued at approximately $222,000. Amica Mutual Insurance Co. grew its position in Guidewire Software by 118.8% in the fourth quarter. Amica Mutual Insurance Co. now owns 7,064 shares of the technology company's stock worth $1,191,000 after acquiring an additional 3,835 shares during the period. Finally, Truist Financial Corp increased its stake in Guidewire Software by 21.8% during the fourth quarter. Truist Financial Corp now owns 9,645 shares of the technology company's stock worth $1,626,000 after acquiring an additional 1,724 shares during the last quarter.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,400 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $256.50, for a total transaction of $359,100.00. Following the sale, the chief executive officer now owns 245,993 shares of the company's stock, valued at approximately $63,097,204.50. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Winston King sold 1,051 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total transaction of $199,069.91. Following the sale, the insider now owns 44,613 shares of the company's stock, valued at $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 three months, insiders have sold 25,423 shares of company stock valued at $4,991,170. Insiders own 0.48% of the company's stock.

Guidewire Software Stock Up 0.2%

Shares of Guidewire Software stock traded up $0.51 during trading hours on Monday, reaching $253.69. 782,229 shares of the company were exchanged, compared to its average volume of 947,326. The firm has a market cap of $21.36 billion, a PE ratio of 704.69, a PEG ratio of 37.21 and a beta of 1.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. Guidewire Software, Inc. has a 1 year low of $131.82 and a 1 year high of $263.20. The stock's fifty day moving average is $211.75 and its 200 day moving average is $197.24.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GWRE. DA Davidson reaffirmed a "neutral" rating and issued a $226.00 price target on shares of Guidewire Software in a research note on Wednesday, June 4th. Stifel Nicolaus upped their target price on shares of Guidewire Software from $230.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Raymond James lifted their price target on shares of Guidewire Software from $225.00 to $255.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Needham & Company LLC reissued a "hold" rating on shares of Guidewire Software in a research note on Wednesday, June 4th. Finally, Oppenheimer increased their price objective on shares of Guidewire Software from $230.00 to $275.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Guidewire Software presently has an average rating of "Moderate Buy" and an average 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.