Truist Financial Corp Purchases 848 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Truist Financial Corp increased its stake in Guidewire Software, Inc. (NYSE:GWREGet Rating) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,768 shares of the technology company’s stock after acquiring an additional 848 shares during the quarter. Truist Financial Corp’s holdings in Guidewire Software were worth $1,033,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. raised its position in shares of Guidewire Software by 9.2% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 22,283 shares of the technology company’s stock worth $1,582,000 after purchasing an additional 1,883 shares during the period. National Bank of Canada FI grew its stake in Guidewire Software by 13.6% in the 2nd quarter. National Bank of Canada FI now owns 2,462 shares of the technology company’s stock valued at $175,000 after purchasing an additional 295 shares during the period. NuWave Investment Management LLC bought a new position in shares of Guidewire Software during the 3rd quarter worth $59,000. California Public Employees Retirement System grew its stake in shares of Guidewire Software by 94.3% during the 2nd quarter. California Public Employees Retirement System now owns 324,999 shares of the technology company’s stock worth $23,072,000 after acquiring an additional 157,775 shares during the period. Finally, US Bancorp DE grew its stake in shares of Guidewire Software by 5.9% during the 2nd quarter. US Bancorp DE now owns 15,056 shares of the technology company’s stock worth $1,069,000 after acquiring an additional 835 shares during the period.

Guidewire Software Stock Down 0.6 %

Shares of NYSE:GWRE opened at $68.21 on Friday. The stock has a fifty day simple moving average of $62.02 and a two-hundred day simple moving average of $65.80. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of -28.66 and a beta of 1.20. Guidewire Software, Inc. has a 12-month low of $52.08 and a 12-month high of $104.48. The company has a current ratio of 3.73, a quick ratio of 3.73 and a debt-to-equity ratio of 0.33.

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 the consensus estimate of ($0.67) by $0.13. Guidewire Software had a negative return on equity of 10.64% and a negative net margin of 23.57%. The firm had revenue of $195.28 million during the quarter, compared to analysts’ expectations of $190.49 million. On average, research analysts anticipate that Guidewire Software, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Transactions at Guidewire Software

In other news, COO Priscilla Hung sold 9,547 shares of the business’s stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $70.00, for a total value of $668,290.00. Following the completion of the transaction, the chief operating officer now owns 57,915 shares in the company, valued at $4,054,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Priscilla Hung sold 9,547 shares of the business’s stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $70.00, for a total value of $668,290.00. Following the completion of the transaction, the chief operating officer now owns 57,915 shares in the company, valued at $4,054,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Winston King sold 1,577 shares of Guidewire Software stock in a transaction on Monday, December 19th. The stock was sold at an average price of $61.40, for a total value of $96,827.80. Following the completion of the sale, the insider now directly owns 39,328 shares of the company’s stock, valued at approximately $2,414,739.20. The disclosure for this sale can be found here. Insiders sold 22,063 shares of company stock worth $1,436,772 over the last quarter. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GWRE. BTIG Research dropped their price objective on Guidewire Software from $105.00 to $90.00 in a report on Wednesday, December 7th. Wells Fargo & Company decreased their price objective on Guidewire Software from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Wednesday, December 7th. JPMorgan Chase & Co. assumed coverage on Guidewire Software in a research report on Thursday, December 1st. They set an “overweight” rating and a $78.00 price target on the stock. Citigroup cut their price objective on Guidewire Software from $79.00 to $67.00 in a research report on Wednesday, December 7th. Finally, StockNews.com assumed coverage on Guidewire Software in a research report on Wednesday, October 12th. They issued a “sell” rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $82.00.

About Guidewire Software

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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.

Further Reading

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

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