Summit Global Investments Takes Position in Guidewire Software, Inc. (NYSE:GWRE)

Summit Global Investments acquired a new stake in Guidewire Software, Inc. (NYSE:GWRE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,668 shares of the technology company’s stock, valued at approximately $618,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Atomi Financial Group Inc. lifted its stake in Guidewire Software by 22.2% in the fourth quarter. Atomi Financial Group Inc. now owns 2,688 shares of the technology company’s stock valued at $453,000 after buying an additional 488 shares during the period. Donoghue Forlines LLC acquired a new position in shares of Guidewire Software during the fourth quarter valued at about $2,110,000. GDS Wealth Management raised its holdings in shares of Guidewire Software by 618.5% during the fourth quarter. GDS Wealth Management now owns 18,752 shares of the technology company’s stock valued at $3,161,000 after purchasing an additional 16,142 shares during the period. Whale Rock Capital Management LLC raised its holdings in shares of Guidewire Software by 3.3% during the third quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company’s stock valued at $177,954,000 after purchasing an additional 31,512 shares during the period. Finally, Banco Santander S.A. acquired a new position in shares of Guidewire Software during the fourth quarter valued at about $427,000.

Insider Activity

In other Guidewire Software news, insider James Winston King sold 270 shares of the firm’s stock in a transaction 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 $7,981,153.92. This trade represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jeffrey Elliott Cooper sold 300 shares of Guidewire Software stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $174.78, for a total value of $52,434.00. Following the completion of the sale, the chief financial officer now directly owns 73,494 shares of the company’s stock, valued at approximately $12,845,281.32. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,780 shares of company stock valued at $6,886,553 in the last ninety days. 0.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GWRE shares. Royal Bank of Canada upped their price target on Guidewire Software from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. The Goldman Sachs Group upped their target price on Guidewire Software from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Robert W. Baird upped their target price on Guidewire Software from $230.00 to $236.00 and gave the stock an “outperform” rating in a research report on Friday, March 7th. Wells Fargo & Company upped their price objective on shares of Guidewire Software from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, JMP Securities restated a “market outperform” rating and set a $231.00 price objective on shares of Guidewire Software in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $206.08.

Guidewire Software Trading Down 0.8 %

NYSE:GWRE opened at $191.84 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market cap of $16.09 billion, a price-to-earnings ratio of 532.89, a price-to-earnings-growth ratio of 37.21 and a beta of 1.31. The firm has a 50-day moving average price of $197.47 and a two-hundred day moving average price of $187.69. Guidewire Software, Inc. has a 52 week low of $107.00 and a 52 week high of $219.59.

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

Guidewire Software Company Profile

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.