Parallel Advisors LLC Increases Stake in Guidewire Software Inc (NYSE:GWRE)

Parallel Advisors LLC grew its position in Guidewire Software Inc (NYSE:GWRE) by 13.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,028 shares of the technology company’s stock after acquiring an additional 236 shares during the quarter. Parallel Advisors LLC’s holdings in Guidewire Software were worth $206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bremer Bank National Association bought a new position in shares of Guidewire Software in the first quarter worth about $29,000. Spectrum Management Group Inc. grew its holdings in Guidewire Software by 143.4% during the 2nd quarter. Spectrum Management Group Inc. now owns 404 shares of the technology company’s stock worth $41,000 after acquiring an additional 238 shares in the last quarter. Manchester Capital Management LLC bought a new position in Guidewire Software during the 1st quarter worth about $49,000. Icon Wealth Partners LLC bought a new position in Guidewire Software during the 1st quarter worth about $51,000. Finally, Clearbridge Investments LLC grew its holdings in Guidewire Software by 58.1% during the 1st quarter. Clearbridge Investments LLC now owns 680 shares of the technology company’s stock worth $66,000 after acquiring an additional 250 shares in the last quarter.

Several research analysts have issued reports on the stock. Piper Jaffray Companies increased their target price on shares of Guidewire Software from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Zacks Investment Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, ValuEngine cut shares of Guidewire Software from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $106.56.

NYSE:GWRE opened at $93.65 on Friday. Guidewire Software Inc has a fifty-two week low of $73.82 and a fifty-two week high of $109.06. The stock has a market capitalization of $7.78 billion, a P/E ratio of 1,040.56, a P/E/G ratio of 29.33 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.38 and a current ratio of 6.38. The company’s 50-day simple moving average is $99.54 and its 200-day simple moving average is $98.82.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Tuesday, June 4th. The technology company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.10. Guidewire Software had a net margin of 10.66% and a return on equity of 4.76%. The business had revenue of $162.90 million for the quarter, compared to analysts’ expectations of $155.23 million. During the same period last year, the business earned $0.05 EPS. The company’s revenue was up 14.6% compared to the same quarter last year. On average, research analysts forecast that Guidewire Software Inc will post 0.48 EPS for the current year.

In related news, insider Steven P. Sherry sold 4,716 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $100.52, for a total value of $474,052.32. Following the completion of the transaction, the insider now directly owns 3,268 shares of the company’s stock, valued at approximately $328,499.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marcus Ryu sold 20,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $96.54, for a total transaction of $1,930,800.00. Following the completion of the transaction, the chief executive officer now directly owns 22,404 shares of the company’s stock, valued at $2,162,882.16. The disclosure for this sale can be found here. Insiders sold a total of 38,702 shares of company stock worth $3,799,748 over the last 90 days. Company insiders own 0.69% of the company’s stock.

Guidewire Software 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.

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

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