William Blair Investment Management LLC Invests $74.99 Million in Guidewire Software, Inc. $GWRE

Key Points

• William Blair Investment Management acquired 609,420 Guidewire Software shares worth approximately $74.99 million, representing about 0.73% of the company.
• Analysts maintain a broadly positive view, with one Strong Buy, 12 Buy and three Hold ratings; the average price target is $221.64, though several firms recently lowered their targets.
• Guidewire reported quarterly EPS of $0.82, exceeding estimates, while revenue rose 26.9% year over year to $372.54 million. GWRE shares opened at $189.19, up 4.1% in the reported session.

William Blair Investment Management LLC acquired a new stake in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 609,420 shares of the technology company's stock, valued at approximately $74,989,000. William Blair Investment Management LLC owned about 0.73% of Guidewire Software as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in GWRE. Advisors Asset Management Inc. bought a new position in Guidewire Software during the first quarter valued at about $25,000. Measured Wealth Private Client Group LLC acquired a new position in Guidewire Software in the 3rd quarter valued at approximately $29,000. Silvant Capital Management LLC bought a new stake in shares of Guidewire Software in the 2nd quarter worth approximately $33,000. Leonteq Securities AG bought a new stake in shares of Guidewire Software in the 1st quarter worth approximately $36,000. Finally, Bogart Wealth LLC grew its holdings in shares of Guidewire Software by 127.8% during the 1st quarter. Bogart Wealth LLC now owns 246 shares of the technology company's stock worth $37,000 after purchasing an additional 138 shares in the last quarter.

Analyst Upgrades and Downgrades

GWRE has been the topic of a number of research reports. Weiss Ratings restated a "hold (c)" rating on shares of Guidewire Software in a research report on Wednesday, June 3rd. Citizens Jmp reduced their target price on Guidewire Software from $300.00 to $220.00 and set a "market outperform" rating for the company in a research report on Friday, June 5th. Stifel Nicolaus decreased their price target on shares of Guidewire Software from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, June 5th. JPMorgan Chase & Co. lowered their price target on shares of Guidewire Software from $300.00 to $258.00 and set an "overweight" rating on the stock in a report on Tuesday, July 14th. Finally, DA Davidson dropped their price objective on shares of Guidewire Software from $246.00 to $222.00 and set a "buy" rating for the company in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Guidewire Software currently has an average rating of "Moderate Buy" and an average target price of $221.64.

Insider Buying and Selling

In other Guidewire Software news, CEO Michael George Rosenbaum sold 5,830 shares of Guidewire Software stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $692,254.20. Following the completion of the transaction, the chief executive officer directly owned 199,776 shares of the company's stock, valued at approximately $23,721,402.24. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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, insider James Winston King sold 1,684 shares of the business's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $130.64, for a total transaction of $219,997.76. Following the completion of the sale, the insider owned 30,018 shares in the company, valued at $3,921,551.52. This represents a 5.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 44,593 shares of company stock valued at $6,572,106. 0.46% of the stock is owned by insiders.

Guidewire Software Trading Up 4.1%

GWRE stock opened at $189.19 on Friday. Guidewire Software, Inc. has a 1-year low of $102.30 and a 1-year high of $272.60. The firm has a market cap of $15.75 billion, a P/E ratio of 102.26 and a beta of 0.92. The business's 50 day moving average is $144.61 and its 200-day moving average is $141.87. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.08. The business had revenue of $372.54 million during 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%.Guidewire Software's quarterly revenue was up 26.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. Equities analysts anticipate that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.

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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