Mackenzie Financial Corp Makes New Investment in Guidewire Software, Inc. (NYSE:GWRE)

Mackenzie Financial Corp purchased a new position in Guidewire Software, Inc. (NYSE:GWRE) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 70,155 shares of the technology company’s stock, valued at approximately $11,827,000.

Other large investors have also added to or reduced their stakes in the company. GDS Wealth Management lifted its position in shares of Guidewire Software by 618.5% in the 4th quarter. GDS Wealth Management now owns 18,752 shares of the technology company’s stock worth $3,161,000 after purchasing an additional 16,142 shares during the period. Banco Santander S.A. purchased a new stake in shares of Guidewire Software in the 4th quarter worth about $427,000. MGO One Seven LLC purchased a new stake in shares of Guidewire Software in the 4th quarter worth about $222,000. Amica Mutual Insurance Co. lifted its position in shares of Guidewire Software by 118.8% in the 4th quarter. Amica Mutual Insurance Co. now owns 7,064 shares of the technology company’s stock worth $1,191,000 after purchasing an additional 3,835 shares during the period. Finally, Truist Financial Corp lifted its position in shares of Guidewire Software by 21.8% in 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 period.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, President John P. Mullen sold 6,116 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $189.41, for a total transaction of $1,158,431.56. Following the completion of the sale, the president now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Winston King sold 1,051 shares of Guidewire Software stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total transaction of $199,069.91. Following the completion of the sale, the insider now owns 44,613 shares of the company’s stock, valued at $8,450,148.33. This represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,371 shares of company stock worth $6,222,685. 0.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GWRE shares. Robert W. Baird raised their target price on shares of Guidewire Software from $230.00 to $236.00 and gave the stock an “outperform” rating in a research report on Friday, March 7th. The Goldman Sachs Group raised their target price on shares of Guidewire Software from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. raised their target price on shares of Guidewire Software from $228.00 to $231.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. DA Davidson cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating and set a $226.00 price target for the company. in a research report on Thursday, May 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $207.42.

Guidewire Software Stock Down 0.3%

NYSE:GWRE opened at $209.31 on Wednesday. The firm has a market cap of $17.56 billion, a P/E ratio of 581.42, a P/E/G ratio of 37.21 and a beta of 1.18. 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 fifty-two week low of $107.65 and a fifty-two week high of $219.59. The firm has a 50-day simple moving average of $198.56 and a two-hundred day simple moving average of $193.65.

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

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.