Guidewire Software, Inc. (NYSE:GWRE) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in Guidewire Software, Inc. (NYSE:GWRE) by 3.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,451 shares of the technology company’s stock after buying an additional 87 shares during the quarter. CIBC Asset Management Inc’s holdings in Guidewire Software were worth $448,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers boosted its holdings in Guidewire Software by 648.0% during the 1st quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company’s stock valued at $2,114,000 after acquiring an additional 15,695 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Guidewire Software by 91.3% in the first quarter. Acadian Asset Management LLC now owns 7,144 shares of the technology company’s stock valued at $833,000 after purchasing an additional 3,409 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Guidewire Software by 8.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,215 shares of the technology company’s stock worth $305,000 after buying an additional 165 shares during the period. Xponance Inc. lifted its holdings in Guidewire Software by 79.8% during the 2nd quarter. Xponance Inc. now owns 6,908 shares of the technology company’s stock worth $953,000 after buying an additional 3,066 shares in the last quarter. Finally, Pallas Capital Advisors LLC boosted its position in Guidewire Software by 219.5% in the 3rd quarter. Pallas Capital Advisors LLC now owns 6,057 shares of the technology company’s stock valued at $1,139,000 after buying an additional 4,161 shares during the period.

Insider Activity at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 23,379 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the transaction, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. The trade was a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James Winston King sold 4,514 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $172.66, for a total value of $779,387.24. Following the completion of the transaction, the insider now directly owns 48,237 shares of the company’s stock, valued at approximately $8,328,600.42. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,601 shares of company stock valued at $9,116,179. 0.48% of the stock is owned by corporate insiders.

Guidewire Software Stock Performance

Guidewire Software stock opened at $200.00 on Friday. The firm has a market cap of $16.70 billion, a price-to-earnings ratio of -2,499.64, a price-to-earnings-growth ratio of 50.80 and a beta of 1.18. Guidewire Software, Inc. has a 1 year low of $95.02 and a 1 year high of $201.60. The firm’s 50 day moving average price is $185.74 and its two-hundred day moving average price is $154.29.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The firm had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. During the same period in the previous year, the company posted $0.30 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts predict that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GWRE. BTIG Research upped their target price on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a report on Friday, October 11th. Oppenheimer boosted their target price on Guidewire Software from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus boosted their price objective on shares of Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.69.

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.