Wasatch Advisors LP Has $119.87 Million Holdings in Guidewire Software, Inc. $GWRE

Key Points

• Wasatch Advisors LP boosted its stake in Guidewire Software by 29% in the first quarter, ending with 801,489 shares valued at about $119.9 million.
• Guidewire reported better-than-expected quarterly results, posting EPS of $0.82 versus the $0.74 consensus and revenue of $372.54 million, up 26.9% year over year.
• Analyst sentiment remains positive overall, with 10 Buy ratings and 3 Hold ratings, though several firms recently trimmed price targets; the consensus target is $221.36.

Wasatch Advisors LP increased its holdings in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 29.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 801,489 shares of the technology company's stock after purchasing an additional 179,945 shares during the period. Wasatch Advisors LP owned approximately 0.95% of Guidewire Software worth $119,871,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Aaron Wealth Advisors LLC boosted its stake in shares of Guidewire Software by 177.9% during the 1st quarter. Aaron Wealth Advisors LLC now owns 5,480 shares of the technology company's stock worth $820,000 after acquiring an additional 3,508 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Guidewire Software during the 1st quarter valued at about $3,694,000. Fifth Third Wealth Advisors LLC raised its stake in shares of Guidewire Software by 7.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,028 shares of the technology company's stock valued at $303,000 after acquiring an additional 146 shares in the last quarter. OP Asset Management Ltd bought a new position in shares of Guidewire Software in the 1st quarter valued at approximately $81,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Guidewire Software by 179.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 628,759 shares of the technology company's stock worth $94,037,000 after purchasing an additional 403,370 shares during the last quarter.

Insider Buying and Selling at Guidewire Software

In other news, CAO David Franklin Peterson sold 246 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $29,210.04. Following the sale, the chief accounting officer directly owned 12,287 shares in the company, valued at approximately $1,458,958.38. This represents a 1.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael George Rosenbaum sold 1,200 shares of the company's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $105.67, for a total value of $126,804.00. Following the completion of the sale, the chief executive officer owned 198,576 shares in the company, valued at $20,983,525.92. This trade represents a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,709 shares of company stock worth $3,740,332 in the last 90 days. 0.46% of the stock is currently owned by insiders.

Guidewire Software Stock Up 10.0%

GWRE stock opened at $121.10 on Friday. Guidewire Software, Inc. has a twelve month low of $102.30 and a twelve month high of $272.60. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. The company has a market cap of $10.08 billion, a PE ratio of 65.46 and a beta of 0.93. The business's 50-day simple moving average is $132.62 and its 200 day simple moving average is $150.60.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company decreased their target price on Guidewire Software from $210.00 to $190.00 and set an "overweight" rating for the company in a research report on Friday, June 5th. The Goldman Sachs Group dropped their price target on shares of Guidewire Software from $255.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, June 5th. Zacks Research cut shares of Guidewire Software from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Royal Bank Of Canada decreased their price objective on shares of Guidewire Software from $250.00 to $215.00 and set an "outperform" rating for the company in a report on Friday, June 5th. Finally, BTIG Research decreased their price objective on shares of Guidewire Software from $200.00 to $175.00 and set a "buy" rating for the company in a report on Thursday. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $221.36.

Guidewire Software Company 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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