Praxis Investment Management Inc. Acquires Shares of 1,850 Guidewire Software, Inc. (NYSE:GWRE)

Praxis Investment Management Inc. acquired a new stake in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,850 shares of the technology company's stock, valued at approximately $347,000.

A number of other hedge funds have also recently modified their holdings of the business. Retirement Systems of Alabama bought a new position in shares of Guidewire Software during the first quarter valued at approximately $19,046,000. State of Alaska Department of Revenue bought a new position in shares of Guidewire Software during the first quarter valued at approximately $1,833,000. Dunhill Financial LLC bought a new position in shares of Guidewire Software during the first quarter valued at approximately $33,000. Conestoga Capital Advisors LLC grew its stake in shares of Guidewire Software by 7.2% during the first quarter. Conestoga Capital Advisors LLC now owns 255,970 shares of the technology company's stock valued at $47,959,000 after buying an additional 17,180 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Guidewire Software by 7.8% during the first quarter. QRG Capital Management Inc. now owns 7,935 shares of the technology company's stock valued at $1,487,000 after buying an additional 573 shares during the last quarter.

Insider Activity

In other news, 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 transaction of $258,174.00. Following the completion of the sale, the chief executive officer now owns 259,993 shares in the company, valued at approximately $47,945,309.13. This represents a 0.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael C. Keller sold 860 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $254.53, for a total value of $218,895.80. Following the sale, the director now owns 11,410 shares of the company's stock, valued at approximately $2,904,187.30. This represents a 7.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,760 shares of company stock worth $3,208,869. Insiders own 0.48% of the company's stock.

Guidewire Software Stock Down 3.8%

Guidewire Software stock opened at $237.34 on Monday. The business has a fifty day moving average of $217.83 and a two-hundred day moving average of $198.72. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.49. The firm has a market cap of $19.98 billion, a P/E ratio of 593.34, a P/E/G ratio of 23.35 and a beta of 1.15. Guidewire Software, Inc. has a twelve month low of $132.01 and a twelve month high of $263.20.

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

Wall Street Analyst Weigh In

GWRE has been the topic of a number of analyst reports. Bank of America upped their target price on Guidewire Software from $135.00 to $160.00 and gave the company an "underperform" rating in a research note on Wednesday, June 4th. Raymond James Financial increased their price objective on Guidewire Software from $225.00 to $255.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. DA Davidson reissued a "neutral" rating and issued a $226.00 price objective on shares of Guidewire Software in a research note on Wednesday, June 4th. Wells Fargo & Company increased their price objective on Guidewire Software from $220.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Finally, The Goldman Sachs Group increased their price objective on Guidewire Software from $235.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. One equities 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. According to MarketBeat.com, Guidewire Software has an average rating of "Moderate Buy" and an average target price of $247.00.

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.

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