Summit Creek Advisors LLC Makes New Investment in Guidewire Software Inc (NYSE:GWRE)

Summit Creek Advisors LLC acquired a new position in shares of Guidewire Software Inc (NYSE:GWRE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,420 shares of the technology company’s stock, valued at approximately $360,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Guidewire Software by 0.9% in the second quarter. Vanguard Group Inc. now owns 7,385,028 shares of the technology company’s stock valued at $748,694,000 after purchasing an additional 64,125 shares during the last quarter. Brown Capital Management LLC grew its position in Guidewire Software by 13.1% during the second quarter. Brown Capital Management LLC now owns 3,730,434 shares of the technology company’s stock valued at $378,191,000 after buying an additional 431,969 shares during the period. William Blair Investment Management LLC grew its position in Guidewire Software by 13.8% during the second quarter. William Blair Investment Management LLC now owns 1,649,144 shares of the technology company’s stock valued at $167,190,000 after buying an additional 200,198 shares during the period. Janus Henderson Group PLC grew its position in Guidewire Software by 8.1% during the second quarter. Janus Henderson Group PLC now owns 1,636,460 shares of the technology company’s stock valued at $165,904,000 after buying an additional 122,416 shares during the period. Finally, Van ECK Associates Corp grew its position in Guidewire Software by 2.7% during the second quarter. Van ECK Associates Corp now owns 643,521 shares of the technology company’s stock valued at $65,240,000 after buying an additional 16,683 shares during the period.

Several equities analysts recently weighed in on the stock. ValuEngine lowered shares of Guidewire Software from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Stifel Nicolaus increased their price target on shares of Guidewire Software from $100.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. increased their target price on shares of Guidewire Software from $116.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. JMP Securities reiterated a “hold” rating on shares of Guidewire Software in a research report on Friday, September 6th. Finally, DA Davidson increased their target price on shares of Guidewire Software to $125.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Guidewire Software has an average rating of “Hold” and a consensus price target of $109.17.

Shares of Guidewire Software stock traded up $1.23 on Thursday, reaching $110.71. The stock had a trading volume of 11,774 shares, compared to its average volume of 706,159. Guidewire Software Inc has a 1 year low of $73.82 and a 1 year high of $113.34. The company has a market cap of $8.96 billion, a P/E ratio of 175.54, a price-to-earnings-growth ratio of 46.36 and a beta of 1.17. The company has a current ratio of 5.75, a quick ratio of 5.75 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $104.44 and its two-hundred day moving average is $101.82.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, September 5th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.29. Guidewire Software had a net margin of 2.87% and a return on equity of 3.37%. The firm had revenue of $207.86 million for the quarter, compared to the consensus estimate of $204.61 million. During the same period in the prior year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was down 13.5% on a year-over-year basis. On average, equities analysts anticipate that Guidewire Software Inc will post 0.18 EPS for the current fiscal year.

In related news, insider Steven P. Sherry sold 4,612 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $106.78, for a total value of $492,469.36. Following the sale, the insider now directly owns 5,605 shares of the company’s stock, valued at $598,501.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew William Fraser Brown sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $107.08, for a total transaction of $299,824.00. Following the completion of the sale, the director now directly owns 3,137 shares in the company, valued at $335,909.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,709 shares of company stock worth $9,380,252. Insiders own 0.69% of the company’s stock.

Guidewire Software Company Profile

Guidewire Software, Inc provides software products for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite comprising Guidewire PolicyCenter, BillingCenter, and ClaimCenter applications. It also provides Guidewire InsuranceNow, a cloud-based platform, which offers policy, billing, and claims management functionality to insurers that prefer to subscribe to a cloud-based solution.

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Institutional Ownership by Quarter for Guidewire Software (NYSE:GWRE)

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