Fifth Third Bancorp Raises Stake in Guidewire Software, Inc. (NYSE:GWRE)

Fifth Third Bancorp raised its position in Guidewire Software, Inc. (NYSE:GWREGet Rating) by 37.3% in the third quarter, Holdings Channel reports. The fund owned 1,098 shares of the technology company’s stock after buying an additional 298 shares during the period. Fifth Third Bancorp’s holdings in Guidewire Software were worth $68,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in shares of Guidewire Software by 5.5% during the 1st quarter. HighTower Advisors LLC now owns 13,825 shares of the technology company’s stock worth $1,311,000 after buying an additional 726 shares during the last quarter. Cetera Advisor Networks LLC lifted its position in shares of Guidewire Software by 6.6% during the 1st quarter. Cetera Advisor Networks LLC now owns 4,428 shares of the technology company’s stock worth $419,000 after buying an additional 276 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Guidewire Software during the 1st quarter worth approximately $253,000. MetLife Investment Management LLC purchased a new stake in shares of Guidewire Software during the 1st quarter worth approximately $159,000. Finally, Raymond James Trust N.A. lifted its position in shares of Guidewire Software by 2.0% during the 1st quarter. Raymond James Trust N.A. now owns 10,089 shares of the technology company’s stock worth $955,000 after buying an additional 195 shares during the last quarter.

Insider Transactions at Guidewire Software

In other news, insider James Winston King sold 1,577 shares of the company’s stock in a transaction on Monday, December 19th. The shares were sold at an average price of $61.40, for a total transaction of $96,827.80. Following the transaction, the insider now directly owns 39,328 shares of the company’s stock, valued at approximately $2,414,739.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider James Winston King sold 1,577 shares of the business’s stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $61.40, for a total value of $96,827.80. Following the sale, the insider now directly owns 39,328 shares in the company, valued at approximately $2,414,739.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael George Rosenbaum sold 7,960 shares of the business’s stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $61.40, for a total transaction of $488,744.00. Following the completion of the sale, the chief executive officer now owns 195,755 shares in the company, valued at $12,019,357. The disclosure for this sale can be found here. Insiders have sold a total of 12,516 shares of company stock valued at $768,482 in the last ninety days. 0.17% of the stock is currently owned by company insiders.

Guidewire Software Stock Performance

Shares of GWRE opened at $68.63 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.73 and a current ratio of 3.73. Guidewire Software, Inc. has a 1 year low of $52.08 and a 1 year high of $104.75. The stock has a market capitalization of $5.62 billion, a P/E ratio of -28.84 and a beta of 1.20. The company’s fifty day moving average is $60.88 and its two-hundred day moving average is $65.91.

Guidewire Software (NYSE:GWREGet Rating) last posted its quarterly earnings results on Tuesday, December 6th. The technology company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.13. Guidewire Software had a negative net margin of 23.57% and a negative return on equity of 10.64%. The business had revenue of $195.28 million for the quarter, compared to analysts’ expectations of $190.49 million. On average, sell-side analysts predict that Guidewire Software, Inc. will post -1.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GWRE has been the topic of a number of recent research reports. Robert W. Baird cut their target price on shares of Guidewire Software to $75.00 in a report on Monday, December 12th. Citigroup cut their target price on shares of Guidewire Software from $79.00 to $67.00 in a report on Wednesday, December 7th. DA Davidson cut their target price on shares of Guidewire Software from $96.00 to $90.00 in a report on Thursday, December 1st. Wells Fargo & Company cut their target price on shares of Guidewire Software from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Wednesday, December 7th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Guidewire Software in a report on Thursday, December 1st. They issued an “overweight” rating and a $78.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $82.00.

Guidewire Software Profile

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Guidewire Software, Inc provides software products for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud comprising 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.

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Institutional Ownership by Quarter for Guidewire Software (NYSE:GWRE)

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