Pinebridge Investments L.P. Invests $2.91 Million in Guidewire Software, Inc. (GWRE) Stock

Pinebridge Investments L.P. acquired a new position in Guidewire Software, Inc. (NYSE:GWRE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 37,386 shares of the technology company’s stock, valued at approximately $2,910,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GWRE. Vanguard Group Inc. raised its stake in Guidewire Software by 1.7% during the second quarter. Vanguard Group Inc. now owns 5,789,792 shares of the technology company’s stock valued at $397,816,000 after buying an additional 96,478 shares during the last quarter. BlackRock Inc. raised its stake in Guidewire Software by 3.4% during the second quarter. BlackRock Inc. now owns 3,175,007 shares of the technology company’s stock valued at $218,156,000 after buying an additional 103,707 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Guidewire Software during the second quarter valued at $113,628,000. Eagle Asset Management Inc. raised its stake in Guidewire Software by 5.1% during the third quarter. Eagle Asset Management Inc. now owns 1,145,732 shares of the technology company’s stock valued at $88,828,000 after buying an additional 55,885 shares during the last quarter. Finally, Blair William & Co. IL raised its stake in Guidewire Software by 2.7% during the second quarter. Blair William & Co. IL now owns 1,134,346 shares of the technology company’s stock valued at $77,941,000 after buying an additional 29,439 shares during the last quarter.

In other news, Director Guy Dubois sold 1,026 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $74.15, for a total transaction of $76,077.90. Following the transaction, the director now owns 10,113 shares of the company’s stock, valued at $749,878.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marcus Ryu sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $73.26, for a total value of $1,831,500.00. Following the transaction, the chief executive officer now directly owns 76,178 shares in the company, valued at approximately $5,580,800.28. The disclosure for this sale can be found here. Insiders sold 114,043 shares of company stock worth $8,795,208 over the last quarter. 0.69% of the stock is owned by company insiders.

Several analysts recently commented on GWRE shares. TheStreet lowered Guidewire Software from a “b” rating to a “c+” rating in a report on Wednesday, November 29th. Deutsche Bank reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Guidewire Software in a report on Thursday, November 30th. KeyCorp reaffirmed a “buy” rating and issued a $86.00 price objective on shares of Guidewire Software in a report on Friday, September 29th. Citigroup set a $85.00 price objective on Guidewire Software and gave the stock a “buy” rating in a report on Thursday, November 30th. Finally, BidaskClub lowered Guidewire Software from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Guidewire Software presently has a consensus rating of “Buy” and an average target price of $80.11.

Shares of Guidewire Software, Inc. (NYSE:GWRE) traded up $0.44 during trading on Wednesday, hitting $70.89. The stock had a trading volume of 105,745 shares, compared to its average volume of 467,869. Guidewire Software, Inc. has a fifty-two week low of $49.18 and a fifty-two week high of $83.52. The stock has a market capitalization of $5,310.77, a P/E ratio of 176.18, a price-to-earnings-growth ratio of 79.97 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Wednesday, November 29th. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). The firm had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $100.61 million. Guidewire Software had a return on equity of 3.29% and a net margin of 3.82%. Guidewire Software’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 earnings per share. research analysts anticipate that Guidewire Software, Inc. will post 0.06 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Pinebridge Investments L.P. Invests $2.91 Million in Guidewire Software, Inc. (GWRE) Stock” was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this article can be viewed at https://stocknewstimes.com/2017/12/06/pinebridge-investments-l-p-invests-2-91-million-in-guidewire-software-inc-gwre-stock.html.

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. 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).

Institutional Ownership by Quarter for Guidewire Software (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.

Latest News

Leave a Reply