Pinebridge Investments L.P. raised its stake in shares of Guidewire Software Inc (NYSE:GWRE) by 41.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,011 shares of the technology company’s stock after buying an additional 15,625 shares during the quarter. Pinebridge Investments L.P.’s holdings in Guidewire Software were worth $3,937,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of GWRE. The Manufacturers Life Insurance Company grew its position in shares of Guidewire Software by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,205 shares of the technology company’s stock worth $151,000 after buying an additional 150 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Guidewire Software by 64.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,030 shares of the technology company’s stock worth $158,000 after buying an additional 794 shares during the period. Zions Bancorporation acquired a new position in shares of Guidewire Software during the 3rd quarter worth about $161,000. CIBC Asset Management Inc acquired a new position in shares of Guidewire Software during the 3rd quarter worth about $200,000. Finally, Forward Management LLC acquired a new position in shares of Guidewire Software during the 4th quarter worth about $204,000.
GWRE has been the subject of several analyst reports. Zacks Investment Research lowered Guidewire Software from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Deutsche Bank restated a “buy” rating and set a $85.00 target price on shares of Guidewire Software in a research report on Thursday, November 30th. Citigroup set a $85.00 price objective on Guidewire Software and gave the company a “buy” rating in a research report on Thursday, November 30th. TheStreet lowered Guidewire Software from a “b” rating to a “c+” rating in a research report on Wednesday, November 29th. Finally, DA Davidson assumed coverage on Guidewire Software in a research report on Friday, February 2nd. They issued a “buy” rating and a $92.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $81.30.
Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Wednesday, November 29th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.10). Guidewire Software had a net margin of 3.82% and a return on equity of 3.29%. The business had revenue of $108.20 million during the quarter, compared to analyst estimates of $100.61 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. Guidewire Software’s revenue for the quarter was up 15.0% compared to the same quarter last year. equities research analysts expect that Guidewire Software Inc will post 0.05 EPS for the current year.
In other Guidewire Software news, Director Andrew William Fraser Brown sold 2,585 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $77.26, for a total value of $199,717.10. Following the sale, the director now owns 3,846 shares in the company, valued at approximately $297,141.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marcus Ryu sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $73.26, for a total value of $1,831,500.00. Following the completion of the sale, the chief executive officer now owns 76,178 shares in the company, valued at approximately $5,580,800.28. The disclosure for this sale can be found here. Insiders sold a total of 98,909 shares of company stock valued at $7,407,998 over the last quarter. 0.69% of the stock is owned by insiders.
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Guidewire Software Profile
Guidewire Software, Inc is a provider of software products for property and casualty (P&C) insurers. The Company’s software serves as a technology platform for P&C insurance carriers. The Company’s InsurancePlatform consists of three elements: core transaction processing, data management and analytics, and digital engagement.
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