Summit Global Investments Takes Position in Guidewire Software, Inc. (NYSE:GWRE)

Summit Global Investments acquired a new position in shares of Guidewire Software, Inc. (NYSE:GWRE) during the fourth quarter, Holdings Channel.com reports. The fund acquired 3,668 shares of the technology company’s stock, valued at approximately $618,000.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc bought a new stake in shares of Guidewire Software during the fourth quarter valued at about $25,000. Point72 Hong Kong Ltd purchased a new position in Guidewire Software during the third quarter valued at approximately $33,000. Cullen Frost Bankers Inc. purchased a new position in Guidewire Software during the fourth quarter valued at approximately $34,000. Brooklyn Investment Group purchased a new position in Guidewire Software during the third quarter valued at approximately $42,000. Finally, R Squared Ltd purchased a new position in Guidewire Software during the fourth quarter valued at approximately $47,000.

Guidewire Software Price Performance

Shares of Guidewire Software stock opened at $191.84 on Monday. The company has a fifty day moving average of $197.47 and a 200-day moving average of $187.69. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. Guidewire Software, Inc. has a 52-week low of $107.00 and a 52-week high of $219.59. The stock has a market capitalization of $16.09 billion, a price-to-earnings ratio of 532.89, a price-to-earnings-growth ratio of 37.21 and a beta of 1.31.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, March 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.44). The business had revenue of $289.48 million for the quarter, compared to analysts’ expectations of $285.74 million. Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. Equities research analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Insider Activity

In other Guidewire Software news, President John P. Mullen sold 6,116 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total value of $1,158,431.56. Following the completion of the sale, the president now owns 166,330 shares in the company, valued at approximately $31,504,565.30. This trade represents a 3.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey Elliott Cooper sold 1,956 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total value of $370,485.96. Following the completion of the sale, the chief financial officer now owns 71,538 shares of the company’s stock, valued at approximately $13,550,012.58. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,780 shares of company stock valued at $6,886,553. 0.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. The Goldman Sachs Group boosted their price target on shares of Guidewire Software from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Friday, March 7th. JPMorgan Chase & Co. boosted their target price on Guidewire Software from $228.00 to $231.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Wells Fargo & Company boosted their price objective on Guidewire Software from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Oppenheimer boosted their price objective on Guidewire Software from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $206.08.

Guidewire Software Company Profile

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.