Citigroup Inc. raised its holdings in Guidewire Software, Inc. (NYSE:GWRE – Get Rating) by 10.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 163,285 shares of the technology company’s stock after buying an additional 15,730 shares during the period. Citigroup Inc. owned approximately 0.20% of Guidewire Software worth $15,450,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GWRE. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Guidewire Software during the 1st quarter worth $2,407,000. Cetera Advisor Networks LLC lifted its position in shares of Guidewire Software by 6.6% during the 1st quarter. Cetera Advisor Networks LLC now owns 4,428 shares of the technology company’s stock worth $419,000 after purchasing an additional 276 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Guidewire Software by 5.5% during the 1st quarter. HighTower Advisors LLC now owns 13,825 shares of the technology company’s stock worth $1,311,000 after purchasing an additional 726 shares during the last quarter. Twin Tree Management LP lifted its position in shares of Guidewire Software by 1,167.0% during the 1st quarter. Twin Tree Management LP now owns 25,948 shares of the technology company’s stock worth $2,455,000 after purchasing an additional 23,900 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Guidewire Software during the 1st quarter worth $492,000. Hedge funds and other institutional investors own 99.36% of the company’s stock.
Guidewire Software Trading Down 0.4 %
Shares of Guidewire Software stock opened at $68.51 on Friday. Guidewire Software, Inc. has a 52-week low of $67.43 and a 52-week high of $130.95. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.24. The company’s 50-day simple moving average is $75.57 and its 200-day simple moving average is $81.91. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of -37.85 and a beta of 1.30.
Guidewire Software (NYSE:GWRE – Get Rating) last issued its quarterly earnings results on Tuesday, June 7th. The technology company reported ($0.61) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.61). Guidewire Software had a negative net margin of 18.86% and a negative return on equity of 7.80%. The business had revenue of $197.45 million for the quarter, compared to analyst estimates of $187.73 million. During the same period in the previous year, the business posted ($0.39) earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Guidewire Software, Inc. will post -1.9 earnings per share for the current year.
Insider Transactions at Guidewire Software
In other news, Director Marcus Ryu purchased 1,000 shares of the company’s stock in a transaction dated Thursday, June 16th. The shares were acquired at an average cost of $70.81 per share, for a total transaction of $70,810.00. Following the completion of the purchase, the director now directly owns 4,539 shares in the company, valued at approximately $321,406.59. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Guidewire Software news, COO Priscilla Hung sold 1,718 shares of the company’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $72.18, for a total transaction of $124,005.24. Following the transaction, the chief operating officer now directly owns 38,948 shares in the company, valued at $2,811,266.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marcus Ryu bought 1,000 shares of the stock in a transaction on Thursday, June 16th. The shares were bought at an average price of $70.81 per share, for a total transaction of $70,810.00. Following the completion of the transaction, the director now directly owns 4,539 shares of the company’s stock, valued at approximately $321,406.59. The disclosure for this purchase can be found here. Insiders have sold a total of 15,898 shares of company stock worth $1,157,541 over the last ninety days. 0.17% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on GWRE shares. Oppenheimer reissued an “initiates” rating on shares of Guidewire Software in a research report on Wednesday, July 27th. Stifel Nicolaus reduced their price target on shares of Guidewire Software from $100.00 to $85.00 in a research report on Wednesday, June 8th. Citigroup reduced their price target on shares of Guidewire Software from $89.00 to $88.00 and set a “neutral” rating for the company in a research report on Wednesday, June 8th. DA Davidson reduced their price target on shares of Guidewire Software from $114.00 to $96.00 and set a “buy” rating for the company in a research report on Tuesday, August 30th. Finally, Wells Fargo & Company reduced their price target on shares of Guidewire Software from $85.00 to $75.00 and set an “underweight” rating for the company in a research report on Wednesday, June 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $100.30.
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 that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.
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