Public Employees Retirement Association of Colorado Has $53.17 Million Position in Guidewire Software, Inc. $GWRE

Key Points

• Public Employees Retirement Association of Colorado boosted its stake in Guidewire Software by 4.1% in the fourth quarter, holding 264,525 shares valued at about $53.17 million.
• Several other institutional investors also increased positions in GWRE, including a new roughly $202.4 million stake from Capital World Investors and large additions from firms like Alliancebernstein and M&T Bank.
• Guidewire reported better-than-expected quarterly results, with EPS of $0.82 and revenue of $372.54 million, though analysts have trimmed some price targets; the stock also remains well below its 52-week high.

Public Employees Retirement Association of Colorado increased its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 264,525 shares of the technology company's stock after acquiring an additional 10,500 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.31% of Guidewire Software worth $53,172,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GWRE. Capital World Investors acquired a new position in shares of Guidewire Software during the 4th quarter worth approximately $202,405,000. Alliancebernstein L.P. increased its holdings in shares of Guidewire Software by 405.1% during the 2nd quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company's stock worth $126,743,000 after acquiring an additional 431,725 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Guidewire Software by 4,507.8% during the 4th quarter. M&T Bank Corp now owns 318,675 shares of the technology company's stock worth $64,057,000 after acquiring an additional 311,759 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Guidewire Software by 112.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 479,859 shares of the technology company's stock worth $90,036,000 after acquiring an additional 254,142 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Guidewire Software by 34.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 982,747 shares of the technology company's stock worth $225,894,000 after acquiring an additional 251,280 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GWRE. Wells Fargo & Company lowered their price objective on Guidewire Software from $210.00 to $190.00 and set an "overweight" rating on the stock in a research report on Friday, June 5th. BTIG Research reiterated a "buy" rating and set a $200.00 price objective on shares of Guidewire Software in a research report on Tuesday, June 2nd. Zacks Research cut Guidewire Software from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Stifel Nicolaus lowered their price objective on Guidewire Software from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, June 5th. Finally, Citizens Jmp lowered their price objective on Guidewire Software from $300.00 to $220.00 and set a "market outperform" rating on the stock in a research report on Friday, June 5th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $229.00.

Insider Activity

In other news, CEO Michael George Rosenbaum sold 1,200 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $135.62, for a total transaction of $162,744.00. Following the sale, the chief executive officer directly owned 206,806 shares of the company's stock, valued at approximately $28,047,029.72. This represents a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 27,722 shares of company stock worth $4,230,983. Corporate insiders own 0.46% of the company's stock.

Guidewire Software Stock Up 0.2%

GWRE stock opened at $122.77 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of 66.36 and a beta of 0.93. The business's fifty day moving average price is $137.49 and its two-hundred day moving average price is $157.32. Guidewire Software, Inc. has a fifty-two week low of $113.67 and a fifty-two week high of $272.60.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.08. The firm had revenue of $372.54 million for the quarter, compared to analysts' expectations of $355.92 million. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The company's quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 EPS. On average, equities analysts anticipate that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

Guidewire Software Profile

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company's offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire's core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.

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