Nikko Asset Management Americas Inc. raised its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 1,321.1% during the second quarter, Holdings Channel reports. The institutional investor owned 189,000 shares of the technology company’s stock after buying an additional 175,700 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Guidewire Software were worth $12,986,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Israel Discount Bank of New York purchased a new stake in shares of Guidewire Software during the first quarter worth about $104,000. Tower Research Capital LLC TRC boosted its stake in shares of Guidewire Software by 424.4% in the first quarter. Tower Research Capital LLC TRC now owns 2,601 shares of the technology company’s stock worth $146,000 after buying an additional 2,105 shares during the period. First Trust Advisors LP purchased a new stake in shares of Guidewire Software during the second quarter worth about $214,000. SG Americas Securities LLC boosted its stake in shares of Guidewire Software by 28.6% in the first quarter. SG Americas Securities LLC now owns 3,814 shares of the technology company’s stock worth $215,000 after buying an additional 848 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Guidewire Software during the first quarter worth about $217,000.
Shares of Guidewire Software, Inc. (GWRE) opened at 70.89 on Friday. Guidewire Software, Inc. has a 52-week low of $49.18 and a 52-week high of $73.36. The firm has a market cap of $5.27 billion, a PE ratio of 517.45 and a beta of 1.27. The firm has a 50-day moving average of $70.56 and a 200 day moving average of $62.78.
Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, June 1st. The technology company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.19. Guidewire Software had a return on equity of 1.97% and a net margin of 2.19%. The firm had revenue of $123.44 million during the quarter, compared to the consensus estimate of $104.55 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was up 24.9% on a year-over-year basis. On average, equities analysts predict that Guidewire Software, Inc. will post $0.85 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: This article was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://stocknewstimes.com/2017/08/18/nikko-asset-management-americas-inc-acquires-175700-shares-of-guidewire-software-inc-gwre.html.
A number of equities research analysts recently issued reports on GWRE shares. TheStreet upgraded shares of Guidewire Software from a “c+” rating to a “b-” rating in a research report on Tuesday, April 25th. Zacks Investment Research upgraded shares of Guidewire Software from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Wednesday, July 12th. UBS AG increased their target price on shares of Guidewire Software from $72.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, June 2nd. BidaskClub cut shares of Guidewire Software from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Finally, ValuEngine upgraded shares of Guidewire Software from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $75.25.
In other news, insider Ali Kheirolomoom sold 9,562 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $65.00, for a total value of $621,530.00. Following the completion of the transaction, the insider now owns 5,585 shares of the company’s stock, valued at $363,025. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Clifton Thomas Weatherford sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $70.05, for a total value of $350,250.00. Following the completion of the transaction, the director now directly owns 21,005 shares of the company’s stock, valued at approximately $1,471,400.25. The disclosure for this sale can be found here. Insiders sold 115,140 shares of company stock valued at $7,904,185 in the last ninety days. 0.96% of the stock is currently owned by insiders.
About Guidewire Software
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. The Company’s InsurancePlatform consists of three elements: 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.
