Advisors Capital Management LLC Acquires Shares of 3,779 Guidewire Software Inc (GWRE)

Advisors Capital Management LLC acquired a new position in Guidewire Software Inc (NYSE:GWRE) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 3,779 shares of the technology company’s stock, valued at approximately $303,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. McCollum Christoferson Group LLC grew its holdings in shares of Guidewire Software by 1.1% in the fourth quarter. McCollum Christoferson Group LLC now owns 50,767 shares of the technology company’s stock worth $4,073,000 after acquiring an additional 542 shares during the period. Contravisory Investment Management Inc. purchased a new position in Guidewire Software during the fourth quarter valued at $105,000. Riverbridge Partners LLC purchased a new position in Guidewire Software during the fourth quarter valued at $37,523,000. First Hawaiian Bank lifted its position in Guidewire Software by 17.1% during the fourth quarter. First Hawaiian Bank now owns 1,095 shares of the technology company’s stock valued at $88,000 after purchasing an additional 160 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Guidewire Software by 2.1% during the fourth quarter. State of Alaska Department of Revenue now owns 10,004 shares of the technology company’s stock valued at $802,000 after purchasing an additional 207 shares in the last quarter.

Shares of Guidewire Software stock opened at $85.71 on Friday. Guidewire Software Inc has a 52 week low of $72.51 and a 52 week high of $107.79. The stock has a market capitalization of $6.79 billion, a PE ratio of 952.33, a price-to-earnings-growth ratio of 35.49 and a beta of 1.33. The company has a current ratio of 8.40, a quick ratio of 8.40 and a debt-to-equity ratio of 0.21.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Tuesday, December 4th. The technology company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.18. Guidewire Software had a positive return on equity of 3.24% and a negative net margin of 0.72%. The business had revenue of $179.70 million for the quarter, compared to the consensus estimate of $162.24 million. During the same period in the previous year, the business earned ($0.06) earnings per share. The business’s revenue was up 66.1% on a year-over-year basis. On average, equities research analysts anticipate that Guidewire Software Inc will post 0.3 EPS for the current fiscal year.

Several research firms recently weighed in on GWRE. Zacks Investment Research upgraded Guidewire Software from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Monday, December 10th. TheStreet downgraded Guidewire Software from a “b-” rating to a “c+” rating in a research report on Friday, October 26th. DA Davidson set a $118.00 target price on Guidewire Software and gave the company a “buy” rating in a research report on Wednesday, December 5th. ValuEngine upgraded Guidewire Software from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 1st. Finally, Deutsche Bank downgraded Guidewire Software from a “buy” rating to a “hold” rating and lowered their target price for the company from $110.00 to $105.00 in a research report on Monday, October 8th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $108.40.

In related news, CEO Marcus Ryu sold 20,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $89.04, for a total value of $1,780,800.00. Following the sale, the chief executive officer now directly owns 20,276 shares in the company, valued at $1,805,375.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Craig Conway sold 400 shares of the business’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $84.17, for a total value of $33,668.00. Following the completion of the sale, the director now owns 8,593 shares in the company, valued at $723,272.81. The disclosure for this sale can be found here. Insiders sold 79,623 shares of company stock worth $6,816,966 over the last 90 days. Company insiders own 0.69% of the company’s stock.

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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.

Featured Article: Intrinsic Value

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

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