Commerce Bank Makes New Investment in Guidewire Software, Inc. $GWRE

Commerce Bank bought a new stake in Guidewire Software, Inc. (NYSE:GWRE) during the 2nd quarter, HoldingsChannel reports. The fund bought 21,429 shares of the technology company’s stock, valued at approximately $2,637,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new position in shares of Guidewire Software in the 1st quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Guidewire Software during the 3rd quarter worth approximately $29,000. Silvant Capital Management LLC bought a new position in Guidewire Software in the second quarter valued at approximately $33,000. Leonteq Securities AG bought a new position in Guidewire Software in the first quarter valued at approximately $36,000. Finally, Bogart Wealth LLC raised its position in Guidewire Software by 127.8% during the first quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock valued at $37,000 after purchasing an additional 138 shares in the last quarter.

Guidewire Software Stock Performance

NYSE GWRE opened at $191.82 on Tuesday. The firm’s fifty day moving average price is $146.04 and its two-hundred day moving average price is $142.33. The stock has a market cap of $15.97 billion, a PE ratio of 103.69 and a beta of 0.92. Guidewire Software, Inc. has a fifty-two week low of $102.30 and a fifty-two week high of $272.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The company had revenue of $372.54 million during the quarter, compared to the consensus estimate of $355.92 million. During the same period in the prior year, the business earned $0.88 earnings per share. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year. On average, equities analysts expect that Guidewire Software, Inc. will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,200 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $187.82, for a total value of $225,384.00. Following the completion of the transaction, the chief executive officer owned 187,776 shares of the company’s stock, valued at $35,268,088.32. This represents a 0.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President John P. Mullen sold 14,400 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $185.00, for a total value of $2,664,000.00. Following the completion of the transaction, the president owned 116,715 shares of the company’s stock, valued at $21,592,275. This represents a 10.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 44,593 shares of company stock worth $6,631,278 in the last 90 days. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GWRE shares. Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Stifel Nicolaus decreased their price target on Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Guggenheim started coverage on Guidewire Software in a report on Thursday, July 23rd. They set a “buy” rating and a $180.00 price target for the company. DA Davidson reduced their price objective on Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Finally, Citizens Jmp decreased their target price on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $221.64.

Guidewire Software Company Profile

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.