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

New Mexico Educational Retirement Board acquired a new position in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,200 shares of the technology company's stock, valued at approximately $3,223,000.

Several other institutional investors also recently modified their holdings of GWRE. OMNI 360 Wealth Inc. acquired a new stake in Guidewire Software in the 1st quarter valued at $211,000. Crossmark Global Holdings Inc. acquired a new stake in Guidewire Software in the 1st quarter valued at $1,255,000. TD Private Client Wealth LLC boosted its stake in Guidewire Software by 15.5% in the 1st quarter. TD Private Client Wealth LLC now owns 7,705 shares of the technology company's stock valued at $1,444,000 after buying an additional 1,032 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Guidewire Software by 12.5% in the 1st quarter. Bank of New York Mellon Corp now owns 560,301 shares of the technology company's stock valued at $104,978,000 after buying an additional 62,107 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in Guidewire Software by 34.6% in the 1st quarter. D.A. Davidson & CO. now owns 2,394 shares of the technology company's stock valued at $449,000 after buying an additional 615 shares in the last quarter.

Guidewire Software Trading Up 0.4%

NYSE GWRE opened at $231.23 on Thursday. The stock has a 50-day simple moving average of $227.76 and a 200 day simple moving average of $203.73. The company has a market capitalization of $19.47 billion, a PE ratio of 578.08, a P/E/G ratio of 20.43 and a beta of 1.16. 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, Inc. has a 12 month low of $132.01 and a 12 month high of $263.20.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.41. The business 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 was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 earnings per share. Research analysts forecast that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

GWRE has been the topic of several recent analyst reports. Citigroup boosted their price target on Guidewire Software from $199.00 to $247.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Oppenheimer lifted their price objective on Guidewire Software from $230.00 to $275.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. lifted their price objective on Guidewire Software from $271.00 to $288.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th. The Goldman Sachs Group lifted their price objective on Guidewire Software from $235.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Stifel Nicolaus lifted their price objective on Guidewire Software from $230.00 to $270.00 and gave the company a "buy" 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $248.31.

Insiders Place Their Bets

In other Guidewire Software news, Director Michael C. Keller sold 1,000 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $237.53, for a total value of $237,530.00. Following the completion of the sale, the director directly owned 10,410 shares in the company, valued at $2,472,687.30. This represents a 8.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $230.70, for a total value of $322,980.00. Following the completion of the sale, the chief executive officer owned 234,468 shares of the company's stock, valued at $54,091,767.60. This trade 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 over the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

About Guidewire Software

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.

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