Principal Financial Group Inc. Grows Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Principal Financial Group Inc. increased its stake in shares of Guidewire Software, Inc. (NYSE:GWREFree Report) by 31.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,105 shares of the technology company’s stock after buying an additional 1,708 shares during the quarter. Principal Financial Group Inc.’s holdings in Guidewire Software were worth $829,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GWRE. RiverPark Advisors LLC purchased a new position in shares of Guidewire Software during the fourth quarter worth about $27,000. Transcendent Capital Group LLC purchased a new position in shares of Guidewire Software during the fourth quarter worth about $27,000. Lindbrook Capital LLC grew its holdings in shares of Guidewire Software by 45.7% during the fourth quarter. Lindbrook Capital LLC now owns 421 shares of the technology company’s stock worth $46,000 after buying an additional 132 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Guidewire Software during the fourth quarter worth about $56,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of Guidewire Software during the fourth quarter worth about $57,000.

Insiders Place Their Bets

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 1,765 shares of Guidewire Software stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $134.20, for a total value of $236,863.00. Following the completion of the sale, the chief financial officer now directly owns 61,714 shares of the company’s stock, valued at approximately $8,282,018.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 1,765 shares of Guidewire Software stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $134.20, for a total value of $236,863.00. Following the completion of the sale, the chief financial officer now directly owns 61,714 shares of the company’s stock, valued at approximately $8,282,018.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $111.35, for a total transaction of $150,322.50. Following the completion of the sale, the insider now directly owns 148,047 shares of the company’s stock, valued at $16,485,033.45. The disclosure for this sale can be found here. In the last three months, insiders sold 13,064 shares of company stock valued at $1,710,361. Company insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on GWRE. Bank of America raised their price objective on shares of Guidewire Software from $80.00 to $95.00 and gave the company an “underperform” rating in a research report on Wednesday, June 5th. Citigroup raised their price objective on shares of Guidewire Software from $109.00 to $122.00 and gave the company a “neutral” rating in a research report on Tuesday, June 4th. Robert W. Baird raised their price objective on shares of Guidewire Software from $140.00 to $152.00 and gave the company an “outperform” rating in a research report on Thursday, June 6th. JPMorgan Chase & Co. raised their price objective on shares of Guidewire Software from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. Finally, Stifel Nicolaus lifted their price target on shares of Guidewire Software from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.08.

Get Our Latest Stock Analysis on GWRE

Guidewire Software Price Performance

Shares of GWRE opened at $139.35 on Friday. The firm has a 50 day simple moving average of $125.65 and a 200-day simple moving average of $117.62. Guidewire Software, Inc. has a 1-year low of $74.03 and a 1-year high of $140.55. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of -1,071.84 and a beta of 1.19.

Guidewire Software (NYSE:GWREGet Free Report) last issued its quarterly earnings data on Tuesday, June 4th. The technology company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.14. Guidewire Software had a negative net margin of 1.11% and a negative return on equity of 1.19%. The business had revenue of $240.68 million during the quarter, compared to analysts’ expectations of $231.46 million. On average, equities analysts expect that Guidewire Software, Inc. will post -0.31 earnings per share for the current fiscal year.

Guidewire Software Company Profile

(Free Report)

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.

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

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