SVA Plumb Wealth Management LLC boosted its position in shares of Guidewire Software Inc (NYSE:GWRE) by 7.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,336 shares of the technology company’s stock after acquiring an additional 2,698 shares during the quarter. SVA Plumb Wealth Management LLC’s holdings in Guidewire Software were worth $3,822,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in GWRE. Teacher Retirement System of Texas acquired a new position in Guidewire Software during the first quarter worth approximately $889,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Guidewire Software by 0.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 106,361 shares of the technology company’s stock valued at $10,334,000 after purchasing an additional 890 shares during the period. Stevens Capital Management LP acquired a new position in shares of Guidewire Software in the first quarter valued at approximately $1,087,000. Cornerstone Wealth Group LLC acquired a new position in shares of Guidewire Software in the first quarter valued at approximately $629,000. Finally, Alps Advisors Inc. increased its holdings in shares of Guidewire Software by 12.5% in the first quarter. Alps Advisors Inc. now owns 5,798 shares of the technology company’s stock valued at $563,000 after purchasing an additional 646 shares during the period.
Shares of NYSE:GWRE traded up $1.23 during trading on Wednesday, reaching $104.59. The company had a trading volume of 2,151 shares, compared to its average volume of 410,062. The firm has a market cap of $8.28 billion, a P/E ratio of 1,169.56, a PEG ratio of 29.97 and a beta of 1.28. The company has a current ratio of 7.45, a quick ratio of 7.45 and a debt-to-equity ratio of 0.21. Guidewire Software Inc has a fifty-two week low of $73.82 and a fifty-two week high of $108.05.
In related news, CEO Marcus Ryu sold 20,000 shares of Guidewire Software stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $105.46, for a total value of $2,109,200.00. Following the sale, the chief executive officer now directly owns 22,404 shares in the company, valued at $2,362,725.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Priscilla Hung sold 3,536 shares of Guidewire Software stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $94.70, for a total value of $334,859.20. Following the completion of the sale, the chief operating officer now owns 7,418 shares in the company, valued at $702,484.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,350 shares of company stock worth $6,902,923. Company insiders own 0.69% of the company’s stock.
A number of research firms have recently issued reports on GWRE. Zacks Investment Research lowered Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 7th. Piper Jaffray Companies lowered Guidewire Software from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $95.00 to $90.00 in a report on Monday, March 4th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of Guidewire Software in a report on Friday, February 1st. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Guidewire Software has an average rating of “Buy” and an average target price of $106.40.
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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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