Norges Bank Acquires New Shares in Guidewire Software, Inc. (NYSE:GWRE)

Norges Bank bought a new position in Guidewire Software, Inc. (NYSE:GWRE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 54,023 shares of the technology company’s stock, valued at approximately $9,107,000. Norges Bank owned 0.06% of Guidewire Software as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Versant Capital Management Inc bought a new stake in Guidewire Software during the 4th quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new position in shares of Guidewire Software in the fourth quarter worth $34,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Guidewire Software by 101.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company’s stock worth $34,000 after buying an additional 99 shares in the last quarter. R Squared Ltd bought a new stake in Guidewire Software during the fourth quarter valued at $47,000. Finally, Tobam purchased a new position in Guidewire Software during the fourth quarter worth about $52,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Guidewire Software from $230.00 to $236.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. increased their price target on shares of Guidewire Software from $228.00 to $231.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research report on Friday, March 7th. Finally, The Goldman Sachs Group raised their price target on Guidewire Software from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $206.08.

Insiders Place Their Bets

In other news, President John P. Mullen sold 6,116 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $189.41, for a total value of $1,158,431.56. Following the completion of the sale, the president now directly owns 166,330 shares of the company’s stock, valued at approximately $31,504,565.30. This trade represents a 3.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $174.78, for a total transaction of $244,692.00. Following the completion of the transaction, the chief executive officer now directly owns 280,330 shares of the company’s stock, valued at approximately $48,996,077.40. The trade was a 0.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,280 shares of company stock worth $8,085,170. 0.48% of the stock is currently owned by company insiders.

Guidewire Software Stock Performance

NYSE:GWRE opened at $172.43 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. Guidewire Software, Inc. has a fifty-two week low of $107.00 and a fifty-two week high of $219.59. The firm has a market cap of $14.46 billion, a PE ratio of 478.96, a price-to-earnings-growth ratio of 37.21 and a beta of 1.19. The business has a 50 day moving average price of $196.89 and a 200-day moving average price of $189.17.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, March 6th. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.44). Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. The firm had revenue of $289.48 million for the quarter, compared to analysts’ expectations of $285.74 million. Equities research analysts predict that Guidewire Software, Inc. will post 0.52 earnings per share for the current 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.