Legal & General Group Plc Boosts Position in Guidewire Software, Inc. (GWRE)
Legal & General Group Plc increased its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 16.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,235 shares of the technology company’s stock after buying an additional 3,850 shares during the quarter. Legal & General Group Plc’s holdings in Guidewire Software were worth $1,871,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Israel Discount Bank of New York bought a new position in Guidewire Software in the first quarter valued at approximately $104,000. Tower Research Capital LLC TRC grew its stake in Guidewire Software by 424.4% in the first quarter. Tower Research Capital LLC TRC now owns 2,601 shares of the technology company’s stock valued at $146,000 after purchasing an additional 2,105 shares in the last quarter. First Trust Advisors LP bought a new position in Guidewire Software in the second quarter valued at approximately $214,000. Fox Run Management L.L.C. bought a new position in Guidewire Software in the second quarter valued at approximately $220,000. Finally, SG Americas Securities LLC grew its stake in Guidewire Software by 28.6% in the first quarter. SG Americas Securities LLC now owns 3,814 shares of the technology company’s stock valued at $215,000 after purchasing an additional 848 shares in the last quarter.
A number of research firms have weighed in on GWRE. UBS AG raised their price target on Guidewire Software from $72.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, June 2nd. BidaskClub downgraded Guidewire Software from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. TheStreet upgraded Guidewire Software from a “c+” rating to a “b” rating in a research note on Wednesday, September 6th. ValuEngine upgraded Guidewire Software from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, J P Morgan Chase & Co began coverage on Guidewire Software in a research note on Tuesday, June 13th. They issued an “overweight” rating for the company. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company’s stock. Guidewire Software has a consensus rating of “Buy” and an average target price of $78.89.
In related news, insider Scott Roza sold 782 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $78.20, for a total value of $61,152.40. Following the transaction, the insider now owns 7,127 shares in the company, valued at $557,331.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ali Kheirolomoom sold 2,047 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $77.06, for a total value of $157,741.82. Following the completion of the transaction, the insider now owns 1,941 shares in the company, valued at approximately $149,573.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,761 shares of company stock valued at $8,205,765. 0.96% of the stock is currently owned by corporate insiders.
Shares of Guidewire Software, Inc. (GWRE) opened at 78.64 on Monday. The firm has a market capitalization of $5.90 billion, a PE ratio of 280.86 and a beta of 1.24. Guidewire Software, Inc. has a 52-week low of $49.18 and a 52-week high of $81.46. The stock has a 50 day moving average price of $73.70 and a 200-day moving average price of $66.23.
Guidewire Software (NYSE:GWRE) last released its earnings results on Wednesday, September 6th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.20. The company had revenue of $181.10 million during the quarter, compared to analyst estimates of $168.61 million. Guidewire Software had a return on equity of 3.59% and a net margin of 4.13%. Guidewire Software’s quarterly revenue was up 28.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. Equities analysts forecast that Guidewire Software, Inc. will post $1.03 EPS for the current year.
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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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