Norges Bank Acquires New Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Norges Bank bought a new stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 54,023 shares of the technology company's stock, valued at approximately $9,107,000. Norges Bank owned 0.06% of Guidewire Software at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atomi Financial Group Inc. increased its holdings in shares of Guidewire Software by 22.2% in the fourth quarter. Atomi Financial Group Inc. now owns 2,688 shares of the technology company's stock valued at $453,000 after purchasing an additional 488 shares during the period. Donoghue Forlines LLC acquired a new position in Guidewire Software in the 4th quarter worth approximately $2,110,000. GDS Wealth Management increased its holdings in Guidewire Software by 618.5% in the 4th quarter. GDS Wealth Management now owns 18,752 shares of the technology company's stock worth $3,161,000 after buying an additional 16,142 shares during the period. Banco Santander S.A. purchased a new position in Guidewire Software during the 4th quarter worth approximately $427,000. Finally, Truist Financial Corp lifted its stake in Guidewire Software by 21.8% during the 4th quarter. Truist Financial Corp now owns 9,645 shares of the technology company's stock valued at $1,626,000 after acquiring an additional 1,724 shares during the period.

Guidewire Software Price Performance

Shares of NYSE:GWRE traded up $3.31 during trading on Friday, reaching $190.90. The stock had a trading volume of 602,991 shares, compared to its average volume of 904,752. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. Guidewire Software, Inc. has a 1-year low of $107.00 and a 1-year high of $219.59. The stock has a market cap of $16.01 billion, a PE ratio of 530.29, a PEG ratio of 37.21 and a beta of 1.19. The business has a fifty day moving average price of $194.96 and a 200-day moving average price of $189.54.

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Guidewire Software (NYSE:GWRE - Get Free Report) last announced 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 business had revenue of $289.48 million for the quarter, compared to analyst estimates of $285.74 million. On average, equities analysts forecast that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GWRE has been the subject of several recent research reports. The Goldman Sachs Group raised their target price on shares of Guidewire Software from $210.00 to $240.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Robert W. Baird boosted their price objective on Guidewire Software from $230.00 to $236.00 and gave the company an "outperform" rating in a report on Friday, March 7th. JPMorgan Chase & Co. raised their target price on Guidewire Software from $228.00 to $231.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Guidewire Software in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $206.08.

Insider Buying and Selling

In other Guidewire Software news, CEO Michael George Rosenbaum sold 1,400 shares of Guidewire Software stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $174.78, for a total transaction of $244,692.00. Following the transaction, the chief executive officer now directly owns 280,330 shares of the company's stock, valued at $48,996,077.40. The trade was a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President John P. Mullen sold 700 shares of the business's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $210.00, for a total transaction of $147,000.00. Following the completion of the transaction, the president now owns 177,746 shares in the company, valued at $37,326,660. The trade was a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,280 shares of company stock worth $8,085,170. 0.48% of the stock is owned by corporate insiders.

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.