Highland Capital Management LLC Buys New Stake in Guidewire Software, Inc. (NYSE:GWRE)

Highland Capital Management LLC purchased a new position in shares of Guidewire Software, Inc. (NYSE:GWRE) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 8,485 shares of the technology company’s stock, valued at approximately $1,552,000.

Other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in Guidewire Software by 23.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock worth $378,832,000 after buying an additional 516,942 shares during the last quarter. International Assets Investment Management LLC increased its stake in Guidewire Software by 18,001.5% during the third quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock worth $472,220,000 after acquiring an additional 256,702 shares during the last quarter. Whale Rock Capital Management LLC raised its holdings in shares of Guidewire Software by 23.4% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after purchasing an additional 240,622 shares during the period. Teca Partners LP acquired a new position in shares of Guidewire Software in the 2nd quarter valued at about $25,893,000. Finally, Linonia Partnership LP grew its stake in Guidewire Software by 8.4% during the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after buying an additional 185,077 shares during the period.

Analyst Ratings Changes

A number of research firms have recently issued reports on GWRE. JMP Securities increased their target price on Guidewire Software from $179.00 to $200.00 and gave the company a “market outperform” rating in a research note on Friday, October 11th. Wells Fargo & Company lifted their price target on shares of Guidewire Software from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research note on Friday, October 11th. Citigroup lifted their price target on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, DA Davidson reaffirmed a “buy” rating and set a $168.00 price target on shares of Guidewire Software in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $178.62.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, President John P. Mullen sold 1,350 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $187.68, for a total transaction of $253,368.00. Following the completion of the transaction, the president now directly owns 190,611 shares of the company’s stock, valued at $35,773,872.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other 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 transaction, the insider now directly owns 48,237 shares of the company’s stock, valued at $8,328,600.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President John P. Mullen sold 1,350 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $187.68, for a total value of $253,368.00. Following the completion of the sale, the president now owns 190,611 shares of the company’s stock, valued at $35,773,872.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,601 shares of company stock valued at $9,050,448 in the last ninety days. Company insiders own 0.38% of the company’s stock.

Guidewire Software Stock Down 0.5 %

Shares of NYSE:GWRE opened at $187.11 on Friday. Guidewire Software, Inc. has a fifty-two week low of $85.15 and a fifty-two week high of $191.48. The firm has a 50-day simple moving average of $170.57 and a 200 day simple moving average of $143.82. The company has a market cap of $15.54 billion, a PE ratio of -2,338.58, a P/E/G ratio of 48.42 and a beta of 1.19.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 EPS. As a group, research analysts forecast that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Guidewire Software 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.