Hsbc Holdings PLC Increases Stake in Guidewire Software, Inc. (NYSE:GWRE)

Hsbc Holdings PLC increased its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 54.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,612 shares of the technology company’s stock after purchasing an additional 7,948 shares during the quarter. Hsbc Holdings PLC’s holdings in Guidewire Software were worth $3,131,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GWRE. Transcendent Capital Group LLC purchased a new stake in shares of Guidewire Software during the fourth quarter valued at approximately $27,000. ORG Partners LLC bought a new stake in Guidewire Software in the 1st quarter worth $29,000. Rothschild Investment LLC bought a new stake in Guidewire Software in the 2nd quarter worth $31,000. Lynx Investment Advisory bought a new position in shares of Guidewire Software during the second quarter valued at about $41,000. Finally, DT Investment Partners LLC purchased a new stake in shares of Guidewire Software during the second quarter worth about $41,000.

Analyst Ratings Changes

GWRE has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on Guidewire Software from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Oppenheimer raised their price target 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 boosted their price objective on shares of Guidewire Software from $141.00 to $179.00 and gave the company a “market outperform” rating in a research report on Friday, September 6th. Royal Bank of Canada raised their target price on shares of Guidewire Software from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Finally, The Goldman Sachs Group boosted their price target on shares of Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $161.69.

Insiders Place Their Bets

In related news, insider James Winston King sold 4,514 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $172.66, for a total transaction of $779,387.24. Following the sale, the insider now directly owns 48,237 shares of the company’s stock, valued at $8,328,600.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Guidewire Software news, insider James Winston King sold 4,514 shares of Guidewire Software stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $172.66, for a total value of $779,387.24. Following the completion of the sale, the insider now owns 48,237 shares of the company’s stock, valued at approximately $8,328,600.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jeffrey Elliott Cooper sold 4,956 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $172.70, for a total value of $855,901.20. Following the transaction, the chief financial officer now directly owns 78,411 shares in the company, valued at $13,541,579.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,601 shares of company stock valued at $8,984,892. Corporate insiders own 0.38% of the company’s stock.

Guidewire Software Price Performance

Shares of Guidewire Software stock opened at $176.81 on Thursday. Guidewire Software, Inc. has a 1 year low of $85.15 and a 1 year high of $177.35. The firm’s 50-day moving average is $153.20 and its 200 day moving average is $133.03. The stock has a market cap of $14.62 billion, a price-to-earnings ratio of -1,360.08 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The firm had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts expect that Guidewire Software, Inc. will post 0.49 EPS 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.