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:GWREFree Report) 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.

View Our Latest Stock Report on GWRE

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:GWREGet Free Report) 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

(Free Report)

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.

See Also

Want to see what other hedge funds are holding GWRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Guidewire Software, Inc. (NYSE:GWREFree Report).

Institutional Ownership by Quarter for Guidewire Software (NYSE:GWRE)

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