Guidewire Software, Inc. $GWRE Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 49.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 225,389 shares of the technology company’s stock after buying an additional 74,432 shares during the period. Assenagon Asset Management S.A. owned 0.27% of Guidewire Software worth $45,305,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. acquired a new position in Guidewire Software in the first quarter valued at $25,000. Dynamic Technology Lab Private Ltd acquired a new stake in Guidewire Software during the second quarter worth about $214,000. Entropy Technologies LP increased its stake in Guidewire Software by 3.6% during the second quarter. Entropy Technologies LP now owns 2,161 shares of the technology company’s stock worth $509,000 after acquiring an additional 75 shares during the last quarter. DNB Asset Management AS purchased a new position in shares of Guidewire Software in the 2nd quarter worth about $2,064,000. Finally, MAI Capital Management raised its holdings in shares of Guidewire Software by 188.0% in the 2nd quarter. MAI Capital Management now owns 599 shares of the technology company’s stock worth $141,000 after purchasing an additional 391 shares during the period.

Guidewire Software Price Performance

GWRE stock opened at $150.96 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.93 and a current ratio of 2.93. Guidewire Software, Inc. has a 1 year low of $120.37 and a 1 year high of $272.60. The firm has a market cap of $12.78 billion, a P/E ratio of 68.62, a price-to-earnings-growth ratio of 7.11 and a beta of 1.06. The stock has a 50-day simple moving average of $147.08 and a 200-day simple moving average of $195.56.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Thursday, March 5th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.77 by $0.40. The firm had revenue of $359.10 million for the quarter, compared to analyst estimates of $342.88 million. Guidewire Software had a return on equity of 13.44% and a net margin of 14.11%.Guidewire Software’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. On average, equities analysts predict that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Guidewire Software announced that its Board of Directors has authorized a stock repurchase plan on Thursday, January 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup boosted their target price on Guidewire Software from $242.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Oppenheimer cut their price target on shares of Guidewire Software from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. BTIG Research lifted their price target on shares of Guidewire Software from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Wells Fargo & Company decreased their price objective on shares of Guidewire Software from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Finally, Stifel Nicolaus dropped their price objective on shares of Guidewire Software from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Guidewire Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.85.

Insider Activity at Guidewire Software

In related news, insider James Winston King sold 1,001 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $163.86, for a total transaction of $164,023.86. Following the completion of the sale, the insider directly owned 32,701 shares of the company’s stock, valued at approximately $5,358,385.86. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey Elliott Cooper sold 1,935 shares of Guidewire Software stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $163.86, for a total transaction of $317,069.10. Following the sale, the chief financial officer directly owned 66,061 shares in the company, valued at $10,824,755.46. This trade represents a 2.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 30,495 shares of company stock valued at $4,920,164. 0.46% of the stock is currently owned by corporate insiders.

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.