Rhumbline Advisers Has $42.71 Million Stake in Guidewire Software, Inc. (NYSE:GWRE)

Rhumbline Advisers boosted its stake in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 148.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 227,961 shares of the technology company's stock after purchasing an additional 136,141 shares during the quarter. Rhumbline Advisers owned approximately 0.27% of Guidewire Software worth $42,711,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GWRE. MassMutual Private Wealth & Trust FSB grew its position in Guidewire Software by 70.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company's stock valued at $32,000 after buying an additional 70 shares in the last quarter. Ossiam purchased a new position in shares of Guidewire Software in the fourth quarter worth approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Guidewire Software by 101.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company's stock valued at $34,000 after purchasing an additional 99 shares during the period. Cullen Frost Bankers Inc. acquired a new position in Guidewire Software during the fourth quarter valued at $34,000. Finally, Colonial Trust Co SC increased its holdings in shares of Guidewire Software by 176.0% in the 4th quarter. Colonial Trust Co SC now owns 287 shares of the technology company's stock valued at $48,000 after purchasing an additional 183 shares during the period.

Guidewire Software Price Performance

Shares of GWRE traded down $0.69 during trading hours on Friday, hitting $255.46. The stock had a trading volume of 862,458 shares, compared to its average volume of 942,817. The stock has a market capitalization of $21.43 billion, a price-to-earnings ratio of 709.89, a P/E/G ratio of 37.21 and a beta of 1.15. Guidewire Software, Inc. has a 52 week low of $126.54 and a 52 week high of $263.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 2.66. The company's fifty day moving average is $203.14 and its two-hundred day moving average is $195.13.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.41. Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. The company had revenue of $293.51 million for the quarter, compared to analyst estimates of $286.40 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The business's revenue was up 22.0% on a year-over-year basis. On average, analysts anticipate that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on GWRE shares. Raymond James boosted their price target on shares of Guidewire Software from $225.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday. The Goldman Sachs Group lifted their price target on shares of Guidewire Software from $235.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Guidewire Software from $231.00 to $271.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wells Fargo & Company upped their target price on shares of Guidewire Software from $220.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Robert W. Baird raised their price objective on Guidewire Software from $230.00 to $236.00 and gave the stock an "outperform" rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Guidewire Software has a consensus rating of "Moderate Buy" and a consensus price target of $247.00.

Insider Activity at Guidewire Software

In related news, President John P. Mullen sold 6,116 shares of Guidewire Software stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total transaction of $1,158,431.56. Following the completion of the sale, the president now directly owns 166,330 shares of the company's stock, valued at $31,504,565.30. The trade was a 3.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James Winston King sold 1,051 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $189.41, for a total value of $199,069.91. Following the completion of the sale, the insider now directly owns 44,613 shares of the company's stock, valued at approximately $8,450,148.33. This trade represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,671 shares of company stock valued at $5,471,104 over the last quarter. Corporate insiders own 0.48% of the company's stock.

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.