Ameriprise Financial Inc. reduced its position in shares of Guidewire Software Inc (NYSE:GWRE) by 7.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 156,855 shares of the company’s stock after selling 12,600 shares during the period. Ameriprise Financial Inc. owned approximately 0.22% of Guidewire Software worth $9,688,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Bank of Montreal Can purchased a new stake in Guidewire Software during the second quarter valued at about $159,000. Societe Generale purchased a new stake in Guidewire Software during the second quarter valued at about $200,000. Murphy Capital Management Inc. purchased a new stake in Guidewire Software during the second quarter valued at about $228,000. Calvert Investment Management Inc. purchased a new stake in Guidewire Software during the second quarter valued at about $235,000. Finally, BlackRock Inc. boosted its stake in Guidewire Software by 113.7% in the first quarter. BlackRock Inc. now owns 4,929 shares of the company’s stock valued at $269,000 after buying an additional 2,623 shares during the last quarter.
Guidewire Software Inc (NYSE:GWRE) traded down 0.07% on Friday, hitting $59.98. 586,271 shares of the stock traded hands. Guidewire Software Inc has a 12-month low of $42.32 and a 12-month high of $64.78. The firm’s 50-day moving average price is $61.22 and its 200-day moving average price is $59.07. The stock has a market cap of $4.38 billion and a price-to-earnings ratio of 299.90.
Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Wednesday, September 7th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. The business earned $141.18 million during the quarter, compared to analysts’ expectations of $136.09 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Guidewire Software’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities research analysts anticipate that Guidewire Software Inc will post $0.76 EPS for the current fiscal year.
Several equities research analysts recently issued reports on GWRE shares. Bank of America Corp. cut shares of Guidewire Software from a “neutral” rating to an “underperform” rating and set a $60.00 price objective for the company. in a research report on Friday, September 16th. They noted that the move was a valuation call. JMP Securities reiterated a “hold” rating on shares of Guidewire Software in a research report on Thursday, September 8th. Zacks Investment Research upgraded shares of Guidewire Software from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Monday, July 11th. Deutsche Bank AG reiterated a “buy” rating on shares of Guidewire Software in a research report on Thursday, September 8th. Finally, TheStreet upgraded shares of Guidewire Software from a “hold” rating to a “buy” rating in a research report on Wednesday, September 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. Guidewire Software has a consensus rating of “Buy” and a consensus target price of $71.14.
In other Guidewire Software news, General Counsel James Winston King sold 3,638 shares of the company’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $58.43, for a total value of $212,568.34. Following the transaction, the general counsel now directly owns 3,638 shares in the company, valued at approximately $212,568.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Priscilla Hung sold 968 shares of the company’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $64.00, for a total transaction of $61,952.00. Following the completion of the transaction, the insider now owns 345 shares in the company, valued at $22,080. The disclosure for this sale can be found here.
Guidewire Software Company Profile
Guidewire Software, Inc is a provider of software products for property and casualty (P&C) insurers. The Company’s software serves as a technology platform for P&C insurance carriers. Its platform consists of three products: core transaction processing, data management and analytics, and digital engagement.
Want to see what other hedge funds are holding GWRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Guidewire Software Inc (NYSE:GWRE).
Receive News & Ratings for Guidewire Software Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Guidewire Software Inc and related companies with MarketBeat.com's FREE daily email newsletter.