New Mexico Educational Retirement Board Makes New $3.22 Million Investment in Guidewire Software, Inc. (NYSE:GWRE)

New Mexico Educational Retirement Board bought a new stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,200 shares of the technology company's stock, valued at approximately $3,223,000.

Other large investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of Guidewire Software in the fourth quarter worth about $12,050,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Guidewire Software in the fourth quarter worth about $205,000. Amundi lifted its position in shares of Guidewire Software by 32.1% in the fourth quarter. Amundi now owns 18,299 shares of the technology company's stock worth $3,141,000 after buying an additional 4,445 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Guidewire Software by 13.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,023 shares of the technology company's stock worth $3,544,000 after buying an additional 2,467 shares in the last quarter. Finally, Independent Advisor Alliance purchased a new stake in shares of Guidewire Software in the fourth quarter worth about $2,786,000.

Guidewire Software Stock Down 2.5%

NYSE:GWRE traded down $5.69 during mid-day trading on Friday, hitting $219.44. The stock had a trading volume of 611,491 shares, compared to its average volume of 971,643. The stock has a 50-day simple moving average of $228.37 and a two-hundred day simple moving average of $204.81. The company has a market capitalization of $18.47 billion, a PE ratio of 548.60, a PEG ratio of 19.52 and a beta of 1.16. Guidewire Software, Inc. has a twelve month low of $132.01 and a twelve month high of $263.20. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.49.

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

Insider Buying and Selling at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 1,400 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $256.50, for a total transaction of $359,100.00. Following the completion of the transaction, the chief executive officer owned 245,993 shares of the company's stock, valued at $63,097,204.50. This represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President John P. Mullen sold 3,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $235.05, for a total transaction of $705,150.00. Following the transaction, the president directly owned 146,489 shares of the company's stock, valued at approximately $34,432,239.45. This represents a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,860 shares of company stock valued at $4,214,136 in the last ninety days. Corporate insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GWRE shares. Stifel Nicolaus boosted their price objective on Guidewire Software from $230.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Royal Bank Of Canada restated an "outperform" rating and issued a $290.00 target price on shares of Guidewire Software in a research note on Monday, June 23rd. DA Davidson restated a "neutral" rating and issued a $226.00 price target on shares of Guidewire Software in a research note on Wednesday, June 4th. The Goldman Sachs Group lifted their price objective on Guidewire Software from $235.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Raymond James Financial boosted their target price on Guidewire Software from $225.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $248.31.

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.