Geode Capital Management LLC Boosts Stake in Guidewire Software, Inc. (NYSE:GWRE)

Geode Capital Management LLC raised its position in Guidewire Software, Inc. (NYSE:GWRE) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,342,771 shares of the technology company’s stock after purchasing an additional 12,697 shares during the quarter. Geode Capital Management LLC owned 1.61% of Guidewire Software worth $226,701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GWRE. Vanguard Group Inc. grew its stake in shares of Guidewire Software by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 8,455,534 shares of the technology company’s stock valued at $1,425,434,000 after buying an additional 90,618 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Guidewire Software by 26.1% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,407,778 shares of the technology company’s stock valued at $237,323,000 after acquiring an additional 291,774 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Guidewire Software by 79.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 946,158 shares of the technology company’s stock valued at $159,503,000 after acquiring an additional 418,642 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Guidewire Software by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 522,586 shares of the technology company’s stock worth $88,098,000 after purchasing an additional 4,386 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Guidewire Software by 2.0% during the fourth quarter. California Public Employees Retirement System now owns 386,246 shares of the technology company’s stock worth $65,113,000 after purchasing an additional 7,467 shares in the last quarter.

Insider Activity

In other news, insider James Winston King sold 270 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $174.78, for a total value of $47,190.60. Following the completion of the sale, the insider now directly owns 45,664 shares of the company’s stock, valued at approximately $7,981,153.92. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael George Rosenbaum sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $170.04, for a total transaction of $238,056.00. Following the transaction, the chief executive officer now owns 269,130 shares in the company, valued at approximately $45,762,865.20. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,880 shares of company stock worth $7,850,222. Corporate insiders own 0.48% of the company’s stock.

Guidewire Software Stock Down 5.3 %

Shares of NYSE GWRE opened at $174.35 on Friday. The business has a 50-day moving average of $198.84 and a two-hundred day moving average of $189.19. The company has a market capitalization of $14.62 billion, a price-to-earnings ratio of 484.30, a price-to-earnings-growth ratio of 37.21 and a beta of 1.31. Guidewire Software, Inc. has a 1 year low of $107.00 and a 1 year high of $219.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 2.66.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, March 6th. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.44). The business had revenue of $289.48 million for the quarter, compared to analysts’ expectations of $285.74 million. Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. On average, analysts forecast that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Guidewire Software from $210.00 to $240.00 and gave the company a “buy” rating in a report on Monday, February 10th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research note on Friday, March 7th. Robert W. Baird increased their price objective on Guidewire Software from $230.00 to $236.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. boosted their target price on Guidewire Software from $228.00 to $231.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and a consensus price target of $206.08.

About Guidewire Software

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud 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.