Synovus Financial Corp Raises Stake in Guidewire Software Inc (NYSE:GWRE)

Synovus Financial Corp boosted its position in Guidewire Software Inc (NYSE:GWRE) by 8,836.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 5,094 shares of the technology company’s stock after purchasing an additional 5,037 shares during the period. Synovus Financial Corp’s holdings in Guidewire Software were worth $541,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Zions Bancorporation N.A. boosted its position in Guidewire Software by 6.0% during the second quarter. Zions Bancorporation N.A. now owns 2,272 shares of the technology company’s stock worth $230,000 after purchasing an additional 128 shares in the last quarter. Diversified Trust Co increased its stake in Guidewire Software by 4.4% during the second quarter. Diversified Trust Co now owns 2,355 shares of the technology company’s stock worth $239,000 after acquiring an additional 100 shares during the last quarter. NEXT Financial Group Inc increased its stake in Guidewire Software by 335.8% during the second quarter. NEXT Financial Group Inc now owns 3,107 shares of the technology company’s stock worth $315,000 after acquiring an additional 2,394 shares during the last quarter. Legacy Private Trust Co. acquired a new stake in Guidewire Software during the second quarter worth about $555,000. Finally, FDx Advisors Inc. increased its stake in Guidewire Software by 17.2% during the second quarter. FDx Advisors Inc. now owns 6,829 shares of the technology company’s stock worth $692,000 after acquiring an additional 1,001 shares during the last quarter.

Several equities research analysts have commented on GWRE shares. JPMorgan Chase & Co. upped their price target on Guidewire Software from $116.00 to $132.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Stifel Nicolaus upped their price target on Guidewire Software from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, September 27th. JMP Securities restated a “hold” rating on shares of Guidewire Software in a research note on Friday, September 6th. ValuEngine upgraded Guidewire Software from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, DA Davidson upped their price target on Guidewire Software to $125.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $109.17.

In other news, insider James Winston King sold 4,188 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $104.09, for a total value of $435,928.92. Following the completion of the sale, the insider now owns 4,306 shares in the company, valued at $448,211.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven P. Sherry sold 4,612 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $106.78, for a total value of $492,469.36. Following the completion of the transaction, the insider now directly owns 5,605 shares of the company’s stock, valued at approximately $598,501.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,709 shares of company stock valued at $9,380,252. Insiders own 0.37% of the company’s stock.

Shares of NYSE:GWRE opened at $118.44 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.75 and a quick ratio of 5.75. Guidewire Software Inc has a 12 month low of $73.82 and a 12 month high of $118.75. The firm has a market capitalization of $9.44 billion, a PE ratio of 188.00, a P/E/G ratio of 48.28 and a beta of 1.16. The business has a 50-day moving average of $108.97 and a two-hundred day moving average of $103.11.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, September 5th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.29. Guidewire Software had a return on equity of 3.37% and a net margin of 2.87%. The business had revenue of $207.86 million during the quarter, compared to analyst estimates of $204.61 million. During the same quarter last year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was down 13.5% compared to the same quarter last year. As a group, research analysts anticipate that Guidewire Software Inc will post 0.18 earnings per share for the current year.

About Guidewire Software

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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