Procyon Advisors LLC Buys New Shares in Guidewire Software, Inc. $GWRE

Procyon Advisors LLC bought a new position in shares of Guidewire Software, Inc. (NYSE:GWRE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,615 shares of the technology company’s stock, valued at approximately $831,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GWRE. Newbridge Financial Services Group Inc. acquired a new position in shares of Guidewire Software during the 2nd quarter valued at about $30,000. Advisors Asset Management Inc. purchased a new stake in Guidewire Software in the first quarter valued at approximately $25,000. Westside Investment Management Inc. acquired a new position in Guidewire Software during the second quarter worth approximately $32,000. Spire Wealth Management raised its stake in Guidewire Software by 135.1% during the third quarter. Spire Wealth Management now owns 174 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Guidewire Software in the 2nd quarter valued at $42,000.

Insider Buying and Selling

In related news, CFO Jeffrey Elliott Cooper sold 216 shares of the firm’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $180.87, for a total transaction of $39,067.92. Following the completion of the sale, the chief financial officer directly owned 72,753 shares of the company’s stock, valued at approximately $13,158,835.11. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $180.87, for a total transaction of $217,044.00. Following the sale, the chief executive officer directly owned 236,743 shares in the company, valued at $42,819,706.41. This trade represents a 0.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 52,756 shares of company stock valued at $10,779,570 over the last three months. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

GWRE has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price objective on Guidewire Software from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research report on Wednesday, October 8th. Wall Street Zen lowered Guidewire Software from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. BTIG Research reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Guidewire Software in a research note on Wednesday, December 17th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $281.00 target price on shares of Guidewire Software in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $269.50.

Guidewire Software Trading Down 4.0%

Shares of GWRE opened at $159.46 on Friday. The stock’s 50-day moving average is $201.96 and its two-hundred day moving average is $220.52. The stock has a market cap of $13.56 billion, a PE ratio of 151.87, a P/E/G ratio of 10.82 and a beta of 1.08. Guidewire Software, Inc. has a 12 month low of $158.80 and a 12 month high of $272.60. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.48 and a quick ratio of 3.48.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.66. The business had revenue of $332.64 million during the quarter, compared to analyst estimates of $316.62 million. Guidewire Software had a return on equity of 10.15% and a net margin of 7.23%.The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 earnings per share. Equities analysts forecast that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Guidewire Software announced that its Board of Directors has authorized a stock repurchase plan on Thursday, January 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Guidewire Software

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.