Eventide Asset Management LLC Takes Position in Guidewire Software, Inc. (NYSE:GWRE)

Eventide Asset Management LLC purchased a new position in shares of Guidewire Software, Inc. (NYSE:GWRE) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 10,663 shares of the technology company’s stock, valued at approximately $1,951,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in Guidewire Software by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,984 shares of the technology company’s stock valued at $5,251,000 after buying an additional 738 shares in the last quarter. Comerica Bank raised its stake in shares of Guidewire Software by 61.7% during the first quarter. Comerica Bank now owns 25,024 shares of the technology company’s stock valued at $2,921,000 after acquiring an additional 9,546 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Guidewire Software by 648.0% in the first quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company’s stock valued at $2,114,000 after purchasing an additional 15,695 shares during the period. GAMMA Investing LLC grew its stake in Guidewire Software by 42.1% in the second quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock worth $105,000 after purchasing an additional 225 shares in the last quarter. Finally, Lynx Investment Advisory purchased a new position in Guidewire Software during the 2nd quarter worth $41,000.

Analyst Ratings Changes

GWRE has been the subject of several research reports. JMP Securities upped their target price on Guidewire Software from $200.00 to $231.00 and gave the stock a “market outperform” rating in a report on Monday, November 25th. Wells Fargo & Company increased their target price on shares of Guidewire Software from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Stifel Nicolaus boosted their price target on shares of Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Citigroup increased their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, BTIG Research boosted their price objective on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $186.08.

Insider Buying and Selling at Guidewire Software

In other news, insider John P. Mullen sold 6,718 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $1,156,570.88. Following the sale, the insider now directly owns 160,099 shares of the company’s stock, valued at $27,562,643.84. The trade was a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeffrey Elliott Cooper sold 4,956 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $172.70, for a total value of $855,901.20. Following the completion of the transaction, the chief financial officer now owns 78,411 shares of the company’s stock, valued at $13,541,579.70. This trade represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,601 shares of company stock worth $9,116,179. 0.48% of the stock is owned by corporate insiders.

Guidewire Software Trading Up 0.5 %

Shares of GWRE stock opened at $202.87 on Friday. Guidewire Software, Inc. has a 12-month low of $95.02 and a 12-month high of $207.10. The business’s fifty day simple moving average is $188.72 and its 200-day simple moving average is $157.29. The company has a market cap of $16.94 billion, a PE ratio of -2,535.88, a PEG ratio of 52.22 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The company’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, equities analysts forecast that Guidewire Software, Inc. will post 0.53 earnings per share for the current year.

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.