Guidewire Software Inc (GWRE) Holdings Boosted by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System grew its holdings in Guidewire Software Inc (NYSE:GWRE) by 0.8% during the first quarter, HoldingsChannel reports. The firm owned 106,361 shares of the technology company’s stock after acquiring an additional 890 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Guidewire Software were worth $10,334,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of Guidewire Software in the fourth quarter worth about $114,000. Boston Family Office LLC grew its holdings in shares of Guidewire Software by 27.0% during the fourth quarter. Boston Family Office LLC now owns 2,705 shares of the technology company’s stock worth $217,000 after buying an additional 575 shares in the last quarter. Bray Capital Advisors bought a new position in shares of Guidewire Software during the fourth quarter worth about $225,000. Wisconsin Capital Management LLC bought a new position in shares of Guidewire Software during the fourth quarter worth about $2,415,000. Finally, Northern Trust Corp grew its holdings in shares of Guidewire Software by 3.7% during the fourth quarter. Northern Trust Corp now owns 415,812 shares of the technology company’s stock worth $33,360,000 after buying an additional 14,790 shares in the last quarter.

In other news, insider Michael Polelle sold 2,732 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $94.70, for a total value of $258,720.40. Following the completion of the sale, the insider now directly owns 5,449 shares of the company’s stock, valued at $516,020.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marcus Ryu sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $105.46, for a total value of $2,109,200.00. Following the completion of the sale, the chief executive officer now directly owns 22,404 shares of the company’s stock, valued at $2,362,725.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,350 shares of company stock valued at $6,902,923. Corporate insiders own 0.69% of the company’s stock.

A number of research analysts recently issued reports on GWRE shares. Piper Jaffray Companies downgraded Guidewire Software from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $95.00 to $90.00 in a report on Monday, March 4th. Goldman Sachs Group reiterated a “buy” rating on shares of Guidewire Software in a report on Friday, February 1st. Finally, Zacks Investment Research downgraded Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 7th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Guidewire Software currently has a consensus rating of “Buy” and a consensus price target of $107.40.

GWRE stock opened at $106.21 on Friday. The company has a quick ratio of 7.45, a current ratio of 7.45 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 174.11, a P/E/G ratio of 31.31 and a beta of 1.28. Guidewire Software Inc has a twelve month low of $73.82 and a twelve month high of $109.06.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.15. The firm had revenue of $169.30 million during the quarter, compared to the consensus estimate of $159.73 million. Guidewire Software had a return on equity of 3.59% and a net margin of 5.56%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. On average, research analysts predict that Guidewire Software Inc will post 0.42 earnings per share for the current fiscal year.

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About Guidewire Software

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.

Further Reading: Debt-To-Equity Ratio

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

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