WCM Investment Management LLC Invests $1.39 Million in Guidewire Software, Inc. $GWRE

WCM Investment Management LLC purchased a new position in shares of Guidewire Software, Inc. (NYSE:GWRE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,584 shares of the technology company’s stock, valued at approximately $1,389,000.

Several other hedge funds also recently bought and sold shares of the business. Advisors Asset Management Inc. bought a new position in shares of Guidewire Software in the first quarter worth about $25,000. Amundi boosted its position in Guidewire Software by 703.0% in the 2nd quarter. Amundi now owns 36,093 shares of the technology company’s stock valued at $8,220,000 after buying an additional 31,598 shares during the period. Jump Financial LLC purchased a new stake in Guidewire Software in the 2nd quarter valued at about $305,000. Bank of Nova Scotia grew its stake in Guidewire Software by 30.9% in the 2nd quarter. Bank of Nova Scotia now owns 2,024 shares of the technology company’s stock worth $477,000 after acquiring an additional 478 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Guidewire Software by 30.6% in the 2nd quarter. NewEdge Advisors LLC now owns 4,911 shares of the technology company’s stock worth $1,156,000 after acquiring an additional 1,152 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GWRE. Zacks Research downgraded shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Citizens Jmp dropped their price objective on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a research note on Friday, June 5th. Stifel Nicolaus reduced their price objective on Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, June 5th. DA Davidson decreased their target price on Guidewire Software from $246.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, June 8th. Finally, BTIG Research reiterated a “buy” rating and issued a $175.00 target price on shares of Guidewire Software in a report on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $224.42.

Guidewire Software Trading Down 4.3%

NYSE:GWRE opened at $142.74 on Wednesday. The firm has a 50-day simple moving average of $132.39 and a 200-day simple moving average of $142.58. Guidewire Software, Inc. has a one year low of $102.30 and a one year high of $272.60. The firm has a market cap of $11.88 billion, a P/E ratio of 77.16 and a beta of 0.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. The firm had revenue of $372.54 million for the quarter, compared to the consensus estimate of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The company’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. Equities analysts anticipate that Guidewire Software, Inc. will post 1.83 EPS for the current fiscal year.

Insider Activity at Guidewire Software

In other news, CAO David Franklin Peterson sold 246 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $29,210.04. Following the completion of the transaction, the chief accounting officer directly owned 12,287 shares of the company’s stock, valued at approximately $1,458,958.38. The trade was a 1.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeffrey Elliott Cooper sold 1,348 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $105.67, for a total value of $142,443.16. Following the sale, the chief financial officer owned 62,119 shares of the company’s stock, valued at $6,564,114.73. This trade represents a 2.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 30,193 shares of company stock valued at $3,792,858 over the last 90 days. Insiders own 0.46% of the company’s stock.

Guidewire Software Profile

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.