JPMorgan Chase & Co. Increases Holdings in Guidewire Software, Inc. $GWRE

JPMorgan Chase & Co. raised its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 568,358 shares of the technology company’s stock after purchasing an additional 35,662 shares during the period. JPMorgan Chase & Co.’s holdings in Guidewire Software were worth $130,647,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new position in shares of Guidewire Software during the first quarter valued at approximately $25,000. Root Financial Partners LLC purchased a new position in Guidewire Software during the 3rd quarter valued at $29,000. Newbridge Financial Services Group Inc. bought a new position in Guidewire Software in the 2nd quarter worth $30,000. Westside Investment Management Inc. purchased a new stake in shares of Guidewire Software in the 2nd quarter worth about $32,000. Finally, Cornerstone Planning Group LLC lifted its position in shares of Guidewire Software by 620.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 144 shares of the technology company’s stock worth $34,000 after purchasing an additional 124 shares during the period.

Insider Activity

In other news, CEO Michael George Rosenbaum sold 6,015 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total value of $1,155,361.20. Following the transaction, the chief executive officer owned 240,743 shares in the company, valued at approximately $46,241,915.44. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James Winston King sold 1,860 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $195.00, for a total transaction of $362,700.00. Following the sale, the insider directly owned 33,702 shares of the company’s stock, valued at $6,571,890. This trade represents a 5.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 45,960 shares of company stock valued at $8,767,044 over the last ninety days. 0.46% of the stock is currently owned by corporate insiders.

Guidewire Software Stock Down 1.0%

Shares of NYSE:GWRE opened at $127.54 on Friday. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $165.67 and a two-hundred day simple moving average of $205.52. Guidewire Software, Inc. has a 12-month low of $120.37 and a 12-month high of $272.60. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 121.47, a PEG ratio of 8.23 and a beta of 1.06.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. The firm had revenue of $332.64 million during the quarter, compared to the consensus estimate 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 was up 26.5% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. On average, research analysts anticipate that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Guidewire Software announced that its board has approved a stock repurchase program on Thursday, January 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GWRE has been the subject of a number of research reports. DA Davidson raised shares of Guidewire Software from a “neutral” rating to a “buy” rating and increased their price target for the stock from $246.00 to $250.00 in a research note on Wednesday, December 17th. Citigroup increased their target price on Guidewire Software from $242.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Citizens Jmp restated a “market outperform” rating and set a $281.00 price target on shares of Guidewire Software in a research report on Wednesday, December 10th. Wall Street Zen cut Guidewire Software from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research report on Thursday, January 22nd. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.77.

Guidewire Software Company 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.