Harbour Capital Advisors LLC Invests $1.03 Million in Guidewire Software, Inc. (NYSE:GWRE)

Harbour Capital Advisors LLC purchased a new stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,577 shares of the technology company's stock, valued at approximately $1,027,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its stake in Guidewire Software by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 2,582 shares of the technology company's stock worth $435,000 after purchasing an additional 131 shares during the period. Truist Financial Corp raised its stake in shares of Guidewire Software by 21.8% in the 4th quarter. Truist Financial Corp now owns 9,645 shares of the technology company's stock valued at $1,626,000 after purchasing an additional 1,724 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of Guidewire Software by 46.9% in the fourth quarter. D.A. Davidson & CO. now owns 1,779 shares of the technology company's stock valued at $300,000 after purchasing an additional 568 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Guidewire Software by 22.9% during the fourth quarter. Handelsbanken Fonder AB now owns 20,395 shares of the technology company's stock worth $3,438,000 after buying an additional 3,800 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Guidewire Software during the fourth quarter worth about $2,979,000.

Guidewire Software Stock Performance

NYSE:GWRE traded down $1.62 during mid-day trading on Wednesday, hitting $235.83. The stock had a trading volume of 641,241 shares, compared to its average volume of 954,765. Guidewire Software, Inc. has a twelve month low of $132.01 and a twelve month high of $263.20. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.23 and a current ratio of 3.23. The stock has a market cap of $19.85 billion, a price-to-earnings ratio of 589.58, a PEG ratio of 23.42 and a beta of 1.15. The company's 50 day simple moving average is $219.62 and its 200 day simple moving average is $199.41.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The technology company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.47 by $0.41. The company had revenue of $293.51 million during the quarter, compared to the consensus estimate of $286.40 million. Guidewire Software had a return on equity of 6.96% and a net margin of 3.04%. The firm's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 EPS. On average, equities research analysts forecast that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Insider Activity

In other Guidewire Software news, Director Michael C. Keller sold 860 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $254.53, for a total value of $218,895.80. Following the transaction, the director now directly owns 11,410 shares of the company's stock, valued at $2,904,187.30. This represents a 7.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $184.41, for a total value of $258,174.00. Following the transaction, the chief executive officer now owns 259,993 shares in the company, valued at $47,945,309.13. The trade was a 0.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,160 shares of company stock valued at $3,779,767 over the last ninety days. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on GWRE shares. Wells Fargo & Company boosted their target price on Guidewire Software from $220.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Citigroup lifted their price objective on shares of Guidewire Software from $199.00 to $247.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. Bank of America boosted their price objective on shares of Guidewire Software from $135.00 to $160.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 4th. DA Davidson reaffirmed a "neutral" rating and issued a $226.00 target price on shares of Guidewire Software in a research report on Wednesday, June 4th. Finally, JMP Securities boosted their price target on shares of Guidewire Software from $250.00 to $281.00 and gave the stock a "market outperform" rating in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $248.31.

Guidewire Software Company 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.