Guidewire Software, Inc. $GWRE Shares Purchased by CI Investments Inc.

Key Points

• CI Investments Inc. increased its stake in Guidewire Software by 90.8% in the first quarter, ending with 31,766 shares valued at about $4.75 million.
• Guidewire reported better-than-expected quarterly results, posting EPS of $0.82 versus the $0.74 consensus and revenue of $372.54 million, up 26.9% year over year.
• Despite the earnings beat, the stock was down about 2% and analysts have become more cautious, with several price target cuts even as the consensus rating remains Moderate Buy.

CI Investments Inc. boosted its stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 90.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,766 shares of the technology company's stock after buying an additional 15,116 shares during the quarter. CI Investments Inc.'s holdings in Guidewire Software were worth $4,751,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new position in Guidewire Software during the first quarter worth about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Guidewire Software in the third quarter valued at $29,000. Flagship Harbor Advisors LLC purchased a new stake in Guidewire Software in the 4th quarter valued at about $36,000. Leonteq Securities AG acquired a new position in shares of Guidewire Software in the 1st quarter worth approximately $36,000. Finally, Bogart Wealth LLC boosted its position in shares of Guidewire Software by 127.8% during the first quarter. Bogart Wealth LLC now owns 246 shares of the technology company's stock worth $37,000 after buying an additional 138 shares during the period.

Guidewire Software Stock Down 2.0%

Shares of NYSE GWRE opened at $131.33 on Friday. The firm has a 50-day moving average price of $132.71 and a 200 day moving average price of $141.71. The stock has a market capitalization of $10.93 billion, a price-to-earnings ratio of 70.99 and a beta of 0.95. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. Guidewire Software, Inc. has a 52 week low of $102.30 and a 52 week high of $272.60.

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

Analysts Set New Price Targets

GWRE has been the subject of a number of research reports. Zacks Research cut shares of Guidewire Software from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Oppenheimer lowered their price target on Guidewire Software from $250.00 to $180.00 and set an "outperform" rating for the company in a report on Monday, May 18th. Stifel Nicolaus decreased their price objective 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. Guggenheim began coverage on shares of Guidewire Software in a research report on Thursday. They set a "buy" rating and a $180.00 target price on the stock. Finally, Citizens Jmp lowered their price target on Guidewire Software from $300.00 to $220.00 and set a "market outperform" rating on the stock in a report on Friday, June 5th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $221.00.

Insiders Place Their Bets

In related news, President John P. Mullen sold 4,292 shares of Guidewire Software stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $509,632.08. Following the completion of the sale, the president owned 131,115 shares in the company, valued at approximately $15,568,595.10. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeffrey Elliott Cooper sold 1,348 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $105.67, for a total transaction of $142,443.16. Following the completion of the transaction, the chief financial officer directly owned 62,119 shares of the company's stock, valued at approximately $6,564,114.73. This represents a 2.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 30,193 shares of company stock valued at $3,792,858. Corporate insiders own 0.46% of the company's stock.

Guidewire Software Company Profile

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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