Truist Financial Corp Has $1.63 Million Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Truist Financial Corp increased its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 21.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,645 shares of the technology company’s stock after purchasing an additional 1,724 shares during the quarter. Truist Financial Corp’s holdings in Guidewire Software were worth $1,626,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Versant Capital Management Inc acquired a new stake in shares of Guidewire Software in the fourth quarter valued at about $25,000. Assetmark Inc. lifted its stake in shares of Guidewire Software by 537.0% in the third quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after acquiring an additional 145 shares during the period. Point72 Hong Kong Ltd bought a new stake in Guidewire Software in the third quarter valued at approximately $33,000. Brooklyn Investment Group acquired a new stake in Guidewire Software during the 3rd quarter valued at approximately $42,000. Finally, R Squared Ltd bought a new position in Guidewire Software during the 4th quarter worth approximately $47,000.

Insider Activity

In other news, President John P. Mullen sold 7,165 shares of Guidewire Software stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total transaction of $1,225,644.90. Following the completion of the transaction, the president now directly owns 182,096 shares in the company, valued at $31,149,341.76. This trade represents a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael George Rosenbaum sold 5,932 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $171.06, for a total transaction of $1,014,727.92. Following the completion of the sale, the chief executive officer now owns 281,730 shares in the company, valued at $48,192,733.80. This represents a 2.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,956 shares of company stock worth $7,105,255 over the last quarter. 0.48% of the stock is currently owned by corporate insiders.

Guidewire Software Stock Performance

Shares of Guidewire Software stock opened at $198.67 on Friday. The business has a 50-day simple moving average of $192.56 and a 200 day simple moving average of $182.71. The firm has a market capitalization of $16.59 billion, a price-to-earnings ratio of 551.86, a PEG ratio of 37.21 and a beta of 1.25. 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, Inc. has a one year low of $107.00 and a one year high of $219.59.

Analyst Upgrades and Downgrades

GWRE has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Guidewire Software from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Royal Bank of Canada boosted their target price on shares of Guidewire Software from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Wells Fargo & Company increased their price target on Guidewire Software from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Oppenheimer lifted their price objective on Guidewire Software from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their target price on Guidewire Software from $210.00 to $228.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.50.

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.