California Public Employees Retirement System Grows Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

California Public Employees Retirement System boosted its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 2.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 386,246 shares of the technology company’s stock after acquiring an additional 7,467 shares during the quarter. California Public Employees Retirement System owned 0.46% of Guidewire Software worth $65,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of GWRE. Versant Capital Management Inc purchased a new stake in shares of Guidewire Software during the fourth quarter valued at approximately $25,000. Point72 Hong Kong Ltd purchased a new stake in Guidewire Software during the 3rd quarter valued at $33,000. Cullen Frost Bankers Inc. bought a new stake in Guidewire Software in the 4th quarter worth $34,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Guidewire Software by 101.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company’s stock worth $34,000 after acquiring an additional 99 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of Guidewire Software in the fourth quarter valued at about $47,000.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GWRE. Robert W. Baird raised their target price on Guidewire Software from $230.00 to $236.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Wells Fargo & Company lifted their price objective on Guidewire Software from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Oppenheimer upped their target price on Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, December 6th. DA Davidson reiterated a “buy” rating and issued a $210.00 price target on shares of Guidewire Software in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Guidewire Software from $228.00 to $231.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $206.08.

Insider Activity at Guidewire Software

In other news, President John P. Mullen sold 2,300 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $174.78, for a total transaction of $401,994.00. Following the transaction, the president now directly owns 178,446 shares of the company’s stock, valued at $31,188,791.88. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James Winston King sold 270 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $174.78, for a total value of $47,190.60. Following the sale, the insider now directly owns 45,664 shares in the company, valued at $7,981,153.92. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,580 shares of company stock valued at $7,417,937. 0.48% of the stock is owned by corporate insiders.

Guidewire Software Price Performance

GWRE opened at $190.40 on Wednesday. Guidewire Software, Inc. has a 1 year low of $107.00 and a 1 year high of $219.59. The stock has a 50-day moving average price of $199.71 and a 200-day moving average price of $189.07. The firm has a market cap of $15.97 billion, a PE ratio of 528.89, a P/E/G ratio of 37.21 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 2.66.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, March 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.44). Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. The firm had revenue of $289.48 million during the quarter, compared to analysts’ expectations of $285.74 million. Sell-side 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.