PCM Encore LLC Buys Shares of 3,764 Guidewire Software, Inc. $GWRE

PCM Encore LLC bought a new position in Guidewire Software, Inc. (NYSE:GWRE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,764 shares of the technology company’s stock, valued at approximately $463,000.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its position in shares of Guidewire Software by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company’s stock worth $357,504,000 after buying an additional 145,924 shares during the last quarter. Stockbridge Partners LLC lifted its position in Guidewire Software by 39.0% during the fourth quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company’s stock valued at $290,501,000 after acquiring an additional 405,850 shares during the last quarter. AQR Capital Management LLC lifted its position in Guidewire Software by 3.6% during the fourth quarter. AQR Capital Management LLC now owns 1,316,817 shares of the technology company’s stock valued at $264,693,000 after acquiring an additional 45,289 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Guidewire Software by 547.3% in the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock valued at $176,537,000 after acquiring an additional 997,992 shares in the last quarter. Finally, Capital World Investors acquired a new stake in Guidewire Software in the fourth quarter valued at approximately $202,405,000.

Guidewire Software Stock Up 0.5%

NYSE:GWRE opened at $182.11 on Friday. The company has a market cap of $15.16 billion, a PE ratio of 98.44 and a beta of 0.92. Guidewire Software, Inc. has a twelve month low of $102.30 and a twelve month high of $272.60. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $143.28 and its two-hundred day moving average is $141.54.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. The business had revenue of $372.54 million for the quarter, compared to analyst estimates of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. Guidewire Software’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 EPS. Analysts anticipate that Guidewire Software, Inc. will post 1.83 EPS for the current year.

Insider Transactions at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 5,830 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $692,254.20. Following the transaction, the chief executive officer directly owned 199,776 shares of the company’s stock, valued at $23,721,402.24. This represents a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Winston King sold 1,684 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $130.64, for a total value of $219,997.76. Following the completion of the transaction, the insider owned 30,018 shares of the company’s stock, valued at $3,921,551.52. This trade represents a 5.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 44,593 shares of company stock valued at $6,572,106 in the last quarter. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GWRE shares. Piper Sandler started coverage on Guidewire Software in a research report on Monday, August 10th. They set an “overweight” rating and a $210.00 price target on the stock. Wells Fargo & Company lowered their price objective on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Oppenheimer boosted their target price on Guidewire Software from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday. DA Davidson reduced their target price on Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Finally, BTIG Research reaffirmed a “buy” rating and set a $175.00 target price on shares of Guidewire Software in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $221.64.

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.