Guidewire Software, Inc. (NYSE:GWRE) Shares Bought by Merit Financial Group LLC

Merit Financial Group LLC raised its position in Guidewire Software, Inc. (NYSE:GWRE) by 36.8% during the 1st quarter, Holdings Channel reports. The firm owned 3,170 shares of the technology company’s stock after acquiring an additional 853 shares during the quarter. Merit Financial Group LLC’s holdings in Guidewire Software were worth $594,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Banco Santander S.A. acquired a new stake in Guidewire Software in the fourth quarter valued at $427,000. MGO One Seven LLC acquired a new stake in Guidewire Software in the fourth quarter valued at $222,000. Amica Mutual Insurance Co. grew its holdings in Guidewire Software by 118.8% in the fourth quarter. Amica Mutual Insurance Co. now owns 7,064 shares of the technology company’s stock valued at $1,191,000 after purchasing an additional 3,835 shares during the last quarter. Truist Financial Corp raised its position in shares of Guidewire Software by 21.8% during the 4th quarter. Truist Financial Corp now owns 9,645 shares of the technology company’s stock worth $1,626,000 after purchasing an additional 1,724 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Guidewire Software by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 522,586 shares of the technology company’s stock valued at $88,098,000 after buying an additional 4,386 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Guidewire Software from $220.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. DA Davidson reaffirmed a “neutral” rating and issued a $226.00 target price on shares of Guidewire Software in a research note on Wednesday, June 4th. Royal Bank of Canada lifted their price objective on Guidewire Software from $230.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. JMP Securities upped their target price on shares of Guidewire Software from $250.00 to $281.00 and gave the company a “market outperform” rating in a report on Wednesday, June 4th. Finally, Bank of America raised their price target on shares of Guidewire Software from $135.00 to $160.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and a consensus price target of $247.00.

Guidewire Software Trading Up 0.6%

Shares of GWRE opened at $257.35 on Tuesday. The stock has a fifty day moving average of $205.73 and a two-hundred day moving average of $195.87. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market capitalization of $21.59 billion, a PE ratio of 714.86, a price-to-earnings-growth ratio of 37.21 and a beta of 1.15. Guidewire Software, Inc. has a fifty-two week low of $129.90 and a fifty-two week high of $263.20.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.41. The company had revenue of $293.51 million during the quarter, compared to the consensus estimate of $286.40 million. Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. Guidewire Software’s revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS. As a group, analysts forecast that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Insider Buying and Selling at Guidewire Software

In other news, Director Michael C. Keller sold 1,848 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $185.03, for a total transaction of $341,935.44. Following the completion of the sale, the director now directly owns 12,270 shares in the company, valued at $2,270,318.10. This represents a 13.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $185.03, for a total value of $259,042.00. Following the sale, the chief executive officer now owns 267,730 shares of the company’s stock, valued at approximately $49,538,081.90. The trade was a 0.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,671 shares of company stock worth $5,592,148. Insiders own 0.48% of the company’s stock.

About Guidewire Software

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.