Guidewire Software, Inc. $GWRE Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its stake in Guidewire Software, Inc. (NYSE:GWRE) by 57.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,694 shares of the technology company’s stock after buying an additional 18,774 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.06% of Guidewire Software worth $11,735,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new stake in shares of Guidewire Software during the 1st quarter valued at about $25,000. Park Avenue Securities LLC bought a new stake in shares of Guidewire Software during the 2nd quarter worth $1,580,000. GAMMA Investing LLC boosted its holdings in shares of Guidewire Software by 54.5% in the second quarter. GAMMA Investing LLC now owns 2,147 shares of the technology company’s stock worth $506,000 after buying an additional 757 shares during the period. Ballentine Partners LLC raised its stake in Guidewire Software by 23.3% during the 2nd quarter. Ballentine Partners LLC now owns 1,461 shares of the technology company’s stock valued at $344,000 after purchasing an additional 276 shares during the period. Finally, TD Private Client Wealth LLC boosted its position in Guidewire Software by 1.3% during the 2nd quarter. TD Private Client Wealth LLC now owns 7,807 shares of the technology company’s stock worth $1,838,000 after acquiring an additional 102 shares during the period.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $160.11 on Friday. Guidewire Software, Inc. has a 12 month low of $154.51 and a 12 month high of $272.60. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $13.61 billion, a price-to-earnings ratio of 152.49, a PEG ratio of 10.22 and a beta of 1.08. The business’s 50-day moving average price is $195.81 and its 200-day moving average price is $218.00.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The firm had revenue of $332.64 million during the quarter, compared to analyst estimates of $316.62 million. During the same quarter last year, the business earned $0.43 EPS. The company’s revenue was up 26.5% compared to the same quarter last year. Equities research analysts forecast that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Guidewire Software declared that its Board of Directors has initiated a share buyback plan on Thursday, January 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Jeffrey Elliott Cooper sold 2,872 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total transaction of $551,653.76. Following the completion of the transaction, the chief financial officer owned 74,201 shares of the company’s stock, valued at approximately $14,252,528.08. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael George Rosenbaum sold 6,015 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $192.08, for a total value of $1,155,361.20. Following the completion of the sale, the chief executive officer directly owned 240,743 shares in the company, valued at approximately $46,241,915.44. The trade was a 2.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 51,758 shares of company stock worth $10,427,033 over the last 90 days. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

GWRE has been the subject of a number of analyst reports. Wells Fargo & Company reduced their target price on shares of Guidewire Software from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a research report on Thursday. Wall Street Zen downgraded shares of Guidewire Software from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Citizens Jmp reaffirmed a “market outperform” rating and set a $281.00 price target on shares of Guidewire Software in a research note on Wednesday, December 10th. Finally, Citigroup upped their target price on shares of Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $269.50.

About Guidewire Software

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.