State of Michigan Retirement System Buys Shares of 20,000 Guidewire Software, Inc. (NYSE:GWRE)

State of Michigan Retirement System purchased a new position in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 20,000 shares of the technology company's stock, valued at approximately $3,747,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Guidewire Software by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 8,455,534 shares of the technology company's stock worth $1,425,434,000 after purchasing an additional 90,618 shares during the period. Massachusetts Financial Services Co. MA increased its position in Guidewire Software by 29.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,436,873 shares of the technology company's stock worth $747,968,000 after buying an additional 1,009,966 shares in the last quarter. Stockbridge Partners LLC raised its stake in shares of Guidewire Software by 8.3% in the fourth quarter. Stockbridge Partners LLC now owns 2,678,857 shares of the technology company's stock worth $451,602,000 after buying an additional 205,382 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of Guidewire Software by 26.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,407,778 shares of the technology company's stock valued at $237,323,000 after buying an additional 291,774 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Guidewire Software by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 1,342,771 shares of the technology company's stock valued at $226,701,000 after acquiring an additional 12,697 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of Guidewire Software from $235.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. increased their price objective on shares of Guidewire Software from $271.00 to $288.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Stifel Nicolaus lifted their target price on shares of Guidewire Software from $230.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Needham & Company LLC reiterated a "hold" rating on shares of Guidewire Software in a research note on Wednesday, June 4th. Finally, Citigroup raised their price target on Guidewire Software from $199.00 to $247.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $248.31.

Insider Buying and Selling

In other Guidewire Software news, Director Michael C. Keller sold 1,000 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $237.53, for a total transaction of $237,530.00. Following the completion of the transaction, the director owned 10,410 shares in the company, valued at $2,472,687.30. This trade represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of Guidewire Software stock in a transaction on Monday, July 7th. The stock was sold at an average price of $230.70, for a total transaction of $322,980.00. Following the completion of the transaction, the chief executive officer directly owned 234,468 shares of the company's stock, valued at $54,091,767.60. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,860 shares of company stock worth $4,214,136. Insiders own 0.48% of the company's stock.

Guidewire Software Trading Down 2.5%

Shares of Guidewire Software stock opened at $219.44 on Friday. 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 $18.47 billion, a price-to-earnings ratio of 548.60, a PEG ratio of 19.52 and a beta of 1.16. Guidewire Software, Inc. has a twelve month low of $132.01 and a twelve month high of $263.20. The business has a 50-day moving average price of $228.37 and a 200-day moving average price of $204.60.

Guidewire Software (NYSE:GWRE - Get Free Report) last released 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. The business had revenue of $293.51 million for the quarter, compared to the consensus estimate of $286.40 million. Guidewire Software had a return on equity of 6.96% and a net margin of 3.04%. The company's revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. Equities research analysts anticipate that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

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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