187,782 Shares in Guidewire Software, Inc. (NYSE:GWRE) Acquired by Teca Partners LP

Teca Partners LP purchased a new stake in shares of Guidewire Software, Inc. (NYSE:GWRE) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 187,782 shares of the technology company’s stock, valued at approximately $25,893,000. Guidewire Software makes up 18.0% of Teca Partners LP’s investment portfolio, making the stock its 2nd biggest holding. Teca Partners LP owned about 0.23% of Guidewire Software at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GWRE. Norges Bank acquired a new position in shares of Guidewire Software in the fourth quarter valued at about $97,829,000. PNC Financial Services Group Inc. increased its holdings in Guidewire Software by 8.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,900 shares of the technology company’s stock worth $970,000 after buying an additional 678 shares during the period. Clearbridge Investments LLC purchased a new position in Guidewire Software during the 4th quarter worth approximately $14,583,000. Corient Private Wealth LLC lifted its stake in Guidewire Software by 126.6% during the 4th quarter. Corient Private Wealth LLC now owns 8,912 shares of the technology company’s stock valued at $972,000 after acquiring an additional 4,979 shares during the period. Finally, Fortis Capital Advisors LLC purchased a new stake in shares of Guidewire Software in the 4th quarter valued at $315,000.

Guidewire Software Price Performance

Shares of NYSE:GWRE opened at $174.54 on Friday. The business’s 50 day moving average price is $151.15 and its 200-day moving average price is $131.80. Guidewire Software, Inc. has a 1 year low of $85.15 and a 1 year high of $176.00. The firm has a market capitalization of $14.43 billion, a price-to-earnings ratio of -1,342.62 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The business had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.32%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. On average, sell-side analysts expect that Guidewire Software, Inc. will post 0.49 earnings per share for the current year.

Analyst Ratings Changes

GWRE has been the subject of several recent research reports. Citigroup raised their target price on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research note on Friday, September 6th. Oppenheimer upped their target price on Guidewire Software from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. JMP Securities lifted their price target on Guidewire Software from $141.00 to $179.00 and gave the company a “market outperform” rating in a research report on Friday, September 6th. Finally, Robert W. Baird upped their price objective on Guidewire Software from $152.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $161.69.

Insider Buying and Selling

In other Guidewire Software news, CEO Michael George Rosenbaum sold 23,379 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the transaction, the chief executive officer now owns 287,662 shares of the company’s stock, valued at $49,523,889.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $139.12, for a total transaction of $187,812.00. Following the transaction, the insider now directly owns 139,171 shares in the company, valued at $19,361,469.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the sale, the chief executive officer now owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,601 shares of company stock worth $8,984,892. Insiders own 0.38% of the company’s stock.

Guidewire Software Company Profile

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.