Guidewire Software, Inc. $GWRE Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Guidewire Software stake by 11,874% in the second quarter, acquiring 11.66 million additional shares and ending with a 14.12% ownership position valued at approximately $1.45 billion.
• Guidewire reported quarterly EPS of $0.99, beating estimates by $0.06, while revenue rose 15.3% year over year to $411.09 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $216.23.
• GWRE shares opened at $140.87, well below the 52-week high of $255.91. Company insiders sold 47,093 shares worth about $7.22 million over the previous quarter, primarily through pre-arranged Rule 10b5-1 plans.

California State Teachers Retirement System boosted its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 11,874.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,757,428 shares of the technology company's stock after acquiring an additional 11,659,237 shares during the period. California State Teachers Retirement System owned 14.12% of Guidewire Software worth $1,446,752,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GWRE. Principal Financial Group Inc. grew its holdings in shares of Guidewire Software by 547.3% in the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company's stock valued at $176,537,000 after purchasing an additional 997,992 shares during the period. Stephens Investment Management Group LLC raised its stake in Guidewire Software by 3.0% during the first quarter. Stephens Investment Management Group LLC now owns 524,818 shares of the technology company's stock worth $78,492,000 after purchasing an additional 15,260 shares during the period. Geode Capital Management LLC raised its stake in Guidewire Software by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company's stock worth $357,504,000 after purchasing an additional 145,924 shares during the period. Entropy Technologies LP acquired a new position in Guidewire Software in the 4th quarter valued at about $5,837,000. Finally, Weiss Asset Management LP acquired a new position in Guidewire Software in the 1st quarter valued at about $6,087,000.

Guidewire Software Price Performance

Shares of GWRE opened at $140.87 on Friday. Guidewire Software, Inc. has a 1-year low of $102.30 and a 1-year high of $255.91. The stock has a market cap of $11.73 billion, a PE ratio of 86.42 and a beta of 0.97. The firm has a 50-day simple moving average of $162.96 and a two-hundred day simple moving average of $147.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.79 and a quick ratio of 2.44.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The technology company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.93 by $0.06. The firm had revenue of $411.09 million for the quarter, compared to analyst estimates of $402.61 million. Guidewire Software had a net margin of 9.44% and a return on equity of 12.66%. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 EPS. As a group, analysts forecast that Guidewire Software, Inc. will post 2.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GWRE shares. Royal Bank Of Canada restated an "outperform" rating and set a $215.00 price target on shares of Guidewire Software in a report on Friday, September 4th. Citigroup upped their price objective on Guidewire Software from $137.00 to $181.00 and gave the company a "neutral" rating in a report on Friday, September 4th. Piper Sandler reiterated an "overweight" rating and issued a $210.00 price objective on shares of Guidewire Software in a research report on Friday, September 4th. DA Davidson reissued a "buy" rating and set a $222.00 target price on shares of Guidewire Software in a research note on Friday, September 4th. Finally, The Goldman Sachs Group reduced their target price on Guidewire Software from $255.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, June 5th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $216.23.

Insider Buying and Selling at Guidewire Software

In related news, CEO Michael Rosenbaum sold 1,200 shares of the firm's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $160.52, for a total transaction of $192,624.00. Following the completion of the transaction, the chief executive officer directly owned 185,376 shares in the company, valued at $29,756,555.52. This trade represents a 0.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO David Peterson sold 2,500 shares of Guidewire Software stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $200.00, for a total value of $500,000.00. Following the completion of the transaction, the chief accounting officer directly owned 9,787 shares of the company's stock, valued at approximately $1,957,400. This represents a 20.35% 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. Insiders have sold a total of 47,093 shares of company stock valued at $7,215,782 over the last quarter. 0.46% of the stock is owned by company insiders.

About Guidewire Software

Guidewire Software, Inc NYSE: GWRE provides cloud-based software and technology services for the property and casualty insurance industry. Its solutions help insurers manage core operations, modernize legacy systems, improve customer engagement and use data to support underwriting and claims decisions.

The company's principal platform, InsuranceSuite, includes applications such as PolicyCenter for policy administration, BillingCenter for billing and payments, and ClaimCenter for claims management.

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