Guidewire Software, Inc. $GWRE Stake Boosted by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Guidewire Software stake by 86.3% in the second quarter, ending with 14,957 shares valued at approximately $1.91 million. Several other institutional investors also raised their positions.
• Analysts remain broadly positive on GWRE, with 12 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $216.23.
• Guidewire beat quarterly expectations, reporting $0.99 in earnings per share and $411.09 million in revenue, up 15.3% year over year. However, the stock opened at $149.72 after a reported 7.8% decline, while insiders sold more than $7.2 million of shares over the past 90 days.

TD Waterhouse Canada Inc. increased its position in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 86.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,957 shares of the technology company's stock after acquiring an additional 6,930 shares during the period. TD Waterhouse Canada Inc.'s holdings in Guidewire Software were worth $1,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GWRE. American Trust grew its stake in Guidewire Software by 3.9% in the third quarter. American Trust now owns 1,632 shares of the technology company's stock valued at $375,000 after purchasing an additional 61 shares in the last quarter. Vident Advisory LLC lifted its holdings in shares of Guidewire Software by 1.7% during the 3rd quarter. Vident Advisory LLC now owns 4,074 shares of the technology company's stock valued at $936,000 after buying an additional 70 shares during the last quarter. Castleark Management LLC lifted its holdings in shares of Guidewire Software by 1.6% during the 1st quarter. Castleark Management LLC now owns 5,180 shares of the technology company's stock valued at $775,000 after buying an additional 80 shares during the last quarter. Avory & Company LLC grew its stake in shares of Guidewire Software by 10.0% in the 4th quarter. Avory & Company LLC now owns 1,187 shares of the technology company's stock valued at $239,000 after buying an additional 108 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of Guidewire Software by 83.0% in the 4th quarter. Harbour Investments Inc. now owns 247 shares of the technology company's stock valued at $50,000 after buying an additional 112 shares in the last quarter.

Analyst Upgrades and Downgrades

GWRE has been the topic of several recent research reports. Oppenheimer raised their price objective on shares of Guidewire Software from $200.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, September 4th. Robert W. Baird increased their price target on shares of Guidewire Software from $202.00 to $235.00 and gave the stock an "outperform" rating in a research note on Monday, August 31st. Guggenheim raised their price target on shares of Guidewire Software from $180.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Piper Sandler reissued an "overweight" rating and set a $210.00 target price on shares of Guidewire Software in a research report on Friday, September 4th. Finally, DA Davidson restated a "buy" rating and set a $222.00 target price on shares of Guidewire Software in a report on Friday, September 4th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $216.23.

Guidewire Software Stock Down 7.8%

Shares of GWRE opened at $149.72 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.44 and a current ratio of 1.79. The company has a 50-day simple moving average of $162.42 and a 200-day simple moving average of $146.94. Guidewire Software, Inc. has a 52 week low of $102.30 and a 52 week high of $262.93. The firm has a market capitalization of $12.47 billion, a P/E ratio of 91.85 and a beta of 0.97.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its earnings results on Thursday, September 3rd. The technology company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.06. The business had revenue of $411.09 million for the quarter, compared to the consensus estimate of $402.61 million. Guidewire Software had a return on equity of 12.66% and a net margin of 9.44%.The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the business earned $0.84 earnings per share. On average, equities research analysts expect that Guidewire Software, Inc. will post 2.15 earnings per share for the current year.

Insider Activity

In other Guidewire Software news, CEO Michael Rosenbaum sold 1,200 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $160.52, for a total value of $192,624.00. Following the sale, the chief executive officer owned 185,376 shares of the company's stock, valued at $29,756,555.52. The trade was a 0.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 transaction of $500,000.00. Following the sale, the chief accounting officer owned 9,787 shares in the company, valued at approximately $1,957,400. This trade represents a 20.35% decrease in their ownership of the stock. 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 have sold 47,093 shares of company stock worth $7,215,782. Company 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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