State of Alaska Department of Revenue Makes New $1.83 Million Investment in Guidewire Software, Inc. (NYSE:GWRE)

State of Alaska Department of Revenue bought a new position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,785 shares of the technology company's stock, valued at approximately $1,833,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its stake in Guidewire Software by 29.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,436,873 shares of the technology company's stock worth $747,968,000 after purchasing an additional 1,009,966 shares during the period. Congress Asset Management Co. purchased a new position in shares of Guidewire Software during the first quarter valued at $85,453,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Guidewire Software by 79.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 946,158 shares of the technology company's stock valued at $159,503,000 after acquiring an additional 418,642 shares during the period. Janus Henderson Group PLC raised its holdings in Guidewire Software by 242.2% in the fourth quarter. Janus Henderson Group PLC now owns 555,892 shares of the technology company's stock worth $93,683,000 after purchasing an additional 393,445 shares in the last quarter. Finally, Rathbones Group PLC acquired a new position in shares of Guidewire Software during the fourth quarter worth $58,118,000.

Insider Activity

In other news, CEO Michael George Rosenbaum sold 1,400 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $184.41, for a total value of $258,174.00. Following the transaction, the chief executive officer now owns 259,993 shares in the company, valued at approximately $47,945,309.13. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President John P. Mullen sold 2,300 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $187.95, for a total transaction of $432,285.00. Following the sale, the president now directly owns 164,030 shares in the company, valued at $30,829,438.50. This trade represents a 1.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,160 shares of company stock valued at $3,542,237 over the last quarter. Company insiders own 0.48% of the company's stock.

Guidewire Software Stock Down 0.7%

GWRE stock traded down $1.75 during mid-day trading on Wednesday, reaching $235.70. The company had a trading volume of 343,934 shares, compared to its average volume of 953,718. The company has a market capitalization of $19.84 billion, a price-to-earnings ratio of 589.25, a PEG ratio of 23.42 and a beta of 1.15. The stock has a 50 day simple moving average of $219.62 and a two-hundred day simple moving average of $199.41. Guidewire Software, Inc. has a 52 week low of $132.01 and a 52 week high of $263.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.23 and a quick ratio of 3.23.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.41. Guidewire Software had a net margin of 3.04% and a return on equity of 6.96%. The firm had revenue of $293.51 million for the quarter, compared to analyst estimates of $286.40 million. During the same quarter last year, the business posted $0.26 earnings per share. The company's quarterly revenue was up 22.0% on a year-over-year basis. As a group, equities analysts predict that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

GWRE has been the topic of several recent research reports. Stifel Nicolaus increased their price target on Guidewire Software from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Robert W. Baird boosted their price target on shares of Guidewire Software from $230.00 to $236.00 and gave the company an "outperform" rating in a research report on Friday, March 7th. Bank of America increased their target price on shares of Guidewire Software from $135.00 to $160.00 and gave the stock an "underperform" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. lifted their price objective on shares of Guidewire Software from $271.00 to $288.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on Guidewire Software from $220.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $248.31.

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.