Comerica Bank Purchases 15,586 Shares of Guidewire Software Inc (GWRE)

Comerica Bank increased its position in Guidewire Software Inc (NYSE:GWRE) by 502.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,690 shares of the technology company’s stock after purchasing an additional 15,586 shares during the period. Comerica Bank’s holdings in Guidewire Software were worth $1,699,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Guidewire Software in the 2nd quarter valued at $142,000. Parallel Advisors LLC raised its position in Guidewire Software by 290.8% in the 3rd quarter. Parallel Advisors LLC now owns 1,794 shares of the technology company’s stock valued at $181,000 after buying an additional 1,335 shares during the last quarter. Boston Family Office LLC purchased a new stake in Guidewire Software in the 3rd quarter valued at $215,000. First Republic Investment Management Inc. purchased a new stake in Guidewire Software in the 2nd quarter valued at $217,000. Finally, Burney Co. purchased a new stake in Guidewire Software in the 2nd quarter valued at $229,000.

In related news, Director Craig Conway sold 400 shares of Guidewire Software stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $107.10, for a total value of $42,840.00. Following the completion of the sale, the director now owns 8,993 shares of the company’s stock, valued at approximately $963,150.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marcus Ryu sold 20,000 shares of Guidewire Software stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $99.93, for a total value of $1,998,600.00. Following the completion of the sale, the chief executive officer now directly owns 20,276 shares of the company’s stock, valued at approximately $2,026,180.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,495 shares of company stock valued at $8,751,743. Insiders own 0.69% of the company’s stock.

A number of equities research analysts recently commented on the company. Stifel Nicolaus increased their price target on Guidewire Software from $93.00 to $106.00 and gave the company a “hold” rating in a research report on Friday, September 21st. KeyCorp increased their price target on Guidewire Software from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, September 21st. DA Davidson increased their price target on Guidewire Software to $118.00 and gave the company a “buy” rating in a research report on Friday, September 21st. They noted that the move was a valuation call. Piper Jaffray Companies increased their price target on Guidewire Software to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, August 28th. Finally, Citigroup assumed coverage on Guidewire Software in a research report on Tuesday, September 4th. They issued a “neutral” rating and a $101.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $109.90.

Shares of Guidewire Software stock opened at $92.96 on Monday. Guidewire Software Inc has a 1 year low of $70.06 and a 1 year high of $107.79. The firm has a market cap of $7.53 billion, a PE ratio of 1,032.89, a price-to-earnings-growth ratio of 45.57 and a beta of 1.24. The company has a quick ratio of 5.43, a current ratio of 5.43 and a debt-to-equity ratio of 0.21.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Wednesday, September 5th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.05. Guidewire Software had a positive return on equity of 1.83% and a negative net margin of 2.97%. The firm had revenue of $248.60 million during the quarter, compared to analyst estimates of $238.86 million. During the same period last year, the firm posted $0.59 EPS. The business’s revenue was up 37.3% compared to the same quarter last year. Equities analysts expect that Guidewire Software Inc will post 0.26 earnings per share for the current fiscal year.

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Guidewire Software Company 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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