Picton Mahoney Asset Management Has $8.21 Million Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Key Points

• Picton Mahoney Asset Management increased its stake in Guidewire Software by 34%, owning a total of 43,847 shares valued at approximately $8.21 million.
• Multiple analysts raised their price targets for Guidewire Software to between $160.00 and $275.00, with a consensus rating of "Moderate Buy".
• In its most recent earnings report, Guidewire Software reported $0.88 earnings per share, significantly beating analyst expectations of $0.47.

Picton Mahoney Asset Management lifted its stake in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 34.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,847 shares of the technology company's stock after purchasing an additional 11,135 shares during the quarter. Picton Mahoney Asset Management owned 0.05% of Guidewire Software worth $8,214,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Portside Wealth Group LLC grew its holdings in shares of Guidewire Software by 148.1% during the 1st quarter. Portside Wealth Group LLC now owns 2,724 shares of the technology company's stock worth $510,000 after purchasing an additional 1,626 shares in the last quarter. Praxis Investment Management Inc. acquired a new stake in shares of Guidewire Software during the 1st quarter worth $347,000. Principal Financial Group Inc. grew its holdings in shares of Guidewire Software by 3,320.4% during the 1st quarter. Principal Financial Group Inc. now owns 192,843 shares of the technology company's stock worth $36,131,000 after purchasing an additional 187,205 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new stake in shares of Guidewire Software during the 1st quarter worth $211,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Guidewire Software during the 1st quarter worth $217,000.

Analyst Ratings Changes

Several analysts recently weighed in on GWRE shares. The Goldman Sachs Group raised their price objective on Guidewire Software from $235.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Stifel Nicolaus raised their price objective on Guidewire Software from $230.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Oppenheimer raised their price objective on Guidewire Software from $230.00 to $275.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Bank of America raised their price objective on Guidewire Software from $135.00 to $160.00 and gave the company an "underperform" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen raised Guidewire Software from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. One 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $250.92.

Guidewire Software Price Performance

Guidewire Software stock opened at $226.94 on Tuesday. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $19.11 billion, a PE ratio of 567.35, a P/E/G ratio of 19.81 and a beta of 1.16. Guidewire Software, Inc. has a 12 month low of $132.01 and a 12 month high of $263.20. The stock has a 50-day moving average price of $230.37 and a two-hundred day moving average price of $208.85.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.41. Guidewire Software had a return on equity of 6.96% and a net margin of 3.04%. The company had revenue of $293.51 million during the quarter, compared to the consensus estimate of $286.40 million. During the same period last year, the company earned $0.26 earnings per share. The firm's revenue was up 22.0% compared to the same quarter last year. Analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Insider Transactions at Guidewire Software

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

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.

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