AlphaCrest Capital Management LLC bought a new position in shares of Guidewire Software Inc (NYSE:GWRE) in the first quarter, HoldingsChannel reports. The firm bought 6,807 shares of the technology company’s stock, valued at approximately $661,000.
A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc boosted its stake in shares of Guidewire Software by 3.2% during the third quarter. Vanguard Group Inc now owns 7,021,764 shares of the technology company’s stock valued at $709,268,000 after purchasing an additional 215,874 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Guidewire Software by 3.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,199 shares of the technology company’s stock valued at $497,000 after acquiring an additional 229 shares in the last quarter. Keybank National Association OH acquired a new stake in Guidewire Software in the fourth quarter valued at approximately $225,000. SG Americas Securities LLC acquired a new stake in Guidewire Software in the fourth quarter valued at approximately $114,000. Finally, TD Asset Management Inc. boosted its stake in Guidewire Software by 4.2% in the fourth quarter. TD Asset Management Inc. now owns 37,100 shares of the technology company’s stock valued at $2,977,000 after acquiring an additional 1,500 shares in the last quarter.
Several equities research analysts have weighed in on GWRE shares. ValuEngine downgraded shares of Guidewire Software from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research downgraded shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Piper Jaffray Companies raised their target price on shares of Guidewire Software from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Guidewire Software currently has an average rating of “Hold” and a consensus target price of $107.40.
In other Guidewire Software news, CEO Marcus Ryu sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $105.46, for a total value of $2,109,200.00. Following the completion of the transaction, the chief executive officer now owns 22,404 shares of the company’s stock, valued at $2,362,725.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Priscilla Hung sold 3,536 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $94.70, for a total transaction of $334,859.20. Following the completion of the transaction, the chief operating officer now directly owns 7,418 shares of the company’s stock, valued at approximately $702,484.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,317 shares of company stock valued at $5,608,940. Corporate insiders own 0.69% of the company’s stock.
Shares of GWRE opened at $97.02 on Friday. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 1,078.00, a PEG ratio of 23.98 and a beta of 1.27. Guidewire Software Inc has a twelve month low of $73.82 and a twelve month high of $109.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.45 and a quick ratio of 7.45.
Guidewire Software (NYSE:GWRE) last announced its earnings results on Tuesday, June 4th. The technology company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.10. The company had revenue of $162.90 million during the quarter, compared to the consensus estimate of $155.23 million. Guidewire Software had a net margin of 10.66% and a return on equity of 4.80%. Guidewire Software’s revenue was up 14.6% compared to the same quarter last year. During the same period last year, the firm earned $0.05 earnings per share. On average, equities analysts predict that Guidewire Software Inc will post 0.42 earnings per share for the current fiscal year.
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Guidewire Software Company Profile
Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter applications. It also provides Guidewire InsuranceNow, a cloud-based platform, which offers policy, billing, and claims management functionality to insurers that prefer to subscribe to a cloud-based solution.
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