Norden Group LLC Acquires 3,628 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Key Points

• Norden Group LLC significantly increased its stake in Guidewire Software by 294.5%, now holding 4,860 shares valued at approximately $911,000.
• Guidewire Software's stock is currently trading at $224.89, which is a decrease of 1.0%, and the company has a market cap of $18.93 billion.
• The company reported earnings of $0.88 EPS, exceeding analysts' expectations, with a year-over-year revenue growth of 22.0%.

Norden Group LLC increased its position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 294.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,860 shares of the technology company's stock after buying an additional 3,628 shares during the period. Norden Group LLC's holdings in Guidewire Software were worth $911,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. boosted its position in Guidewire Software by 403.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 131 shares of the technology company's stock valued at $25,000 after acquiring an additional 105 shares in the last quarter. Ossiam acquired a new stake in Guidewire Software during the 4th quarter worth about $29,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Guidewire Software by 70.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company's stock valued at $32,000 after purchasing an additional 70 shares in the last quarter. Dunhill Financial LLC purchased a new position in shares of Guidewire Software in the 1st quarter valued at about $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Guidewire Software by 101.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company's stock worth $34,000 after buying an additional 99 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently commented on GWRE. JPMorgan Chase & Co. lifted their price target on shares of Guidewire Software from $271.00 to $288.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Needham & Company LLC restated a "hold" rating on shares of Guidewire Software in a research note on Wednesday, June 4th. JMP Securities boosted their target price on shares of Guidewire Software from $250.00 to $281.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 4th. Wall Street Zen raised Guidewire Software from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, The Goldman Sachs Group increased their target price on shares of Guidewire Software from $235.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $250.92.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, insider James Winston King sold 2,482 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $220.65, for a total transaction of $547,653.30. Following the sale, the insider directly owned 37,441 shares of the company's stock, valued at approximately $8,261,356.65. This represents a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President John P. Mullen sold 3,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $235.05, for a total transaction of $705,150.00. Following the completion of the transaction, the president owned 146,489 shares in the company, valued at approximately $34,432,239.45. This represents a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,342 shares of company stock valued at $4,879,599. 0.48% of the stock is currently owned by corporate insiders.

Guidewire Software Stock Down 1.7%

Shares of GWRE traded down $3.82 during mid-day trading on Friday, hitting $222.40. 261,024 shares of the company's stock were exchanged, compared to its average volume of 996,564. The firm has a fifty day moving average of $231.23 and a two-hundred day moving average of $209.47. Guidewire Software, Inc. has a twelve month low of $132.01 and a twelve month high of $263.20. The stock has a market cap of $18.72 billion, a price-to-earnings ratio of 555.46, a P/E/G ratio of 20.01 and a beta of 1.16. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.49.

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, beating analysts' consensus estimates of $0.47 by $0.41. The firm had revenue of $293.51 million during the quarter, compared to the consensus estimate of $286.40 million. Guidewire Software had a net margin of 3.04% and a return on equity of 6.96%. The business's revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. On average, sell-side analysts forecast that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

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.