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

New Mexico Educational Retirement Board purchased a new position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 17,200 shares of the technology company's stock, valued at approximately $3,223,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Guidewire Software by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 8,455,534 shares of the technology company's stock worth $1,425,434,000 after buying an additional 90,618 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Guidewire Software by 29.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,436,873 shares of the technology company's stock worth $747,968,000 after buying an additional 1,009,966 shares in the last quarter. Stockbridge Partners LLC increased its holdings in Guidewire Software by 8.3% in the 4th quarter. Stockbridge Partners LLC now owns 2,678,857 shares of the technology company's stock worth $451,602,000 after buying an additional 205,382 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in Guidewire Software by 26.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,407,778 shares of the technology company's stock worth $237,323,000 after buying an additional 291,774 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Guidewire Software by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,342,771 shares of the technology company's stock worth $226,701,000 after buying an additional 12,697 shares in the last quarter.

Guidewire Software Stock Down 2.6%

Shares of GWRE stock traded down $6.10 during mid-day trading on Thursday, hitting $225.15. The stock had a trading volume of 748,926 shares, compared to its average volume of 967,505. Guidewire Software, Inc. has a 12-month low of $132.01 and a 12-month high of $263.20. The firm has a market capitalization of $18.96 billion, a P/E ratio of 562.88, a price-to-earnings-growth ratio of 20.43 and a beta of 1.16. The firm's 50-day moving average is $227.76 and its two-hundred day moving average is $203.73. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.23 and a quick ratio of 3.23.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued 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. The firm had revenue of $293.51 million during the quarter, compared to analysts' expectations of $286.40 million. Guidewire Software had a return on equity of 6.96% and a net margin of 3.04%. The firm's quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 EPS. On average, analysts predict that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on GWRE shares. Wall Street Zen upgraded Guidewire Software from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Raymond James Financial raised their target price on Guidewire Software from $225.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Wells Fargo & Company raised their target price on Guidewire Software from $220.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada reissued an "outperform" rating and issued a $290.00 target price on shares of Guidewire Software in a research report on Monday, June 23rd. Finally, JMP Securities raised their target price on 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 research 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 a consensus price target of $248.31.

Insider Buying and Selling

In related news, President John P. Mullen sold 3,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was 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 $34,432,239.45. This represents a 2.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $230.70, for a total value of $322,980.00. Following the transaction, the chief executive officer directly owned 234,468 shares in the company, valued at $54,091,767.60. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,860 shares of company stock worth $4,214,136 in the last three months. 0.48% of the stock is owned by insiders.

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.