Point72 Hong Kong Ltd Makes New Investment in Guidewire Software, Inc. (NYSE:GWRE)

Point72 Hong Kong Ltd purchased a new position in Guidewire Software, Inc. (NYSE:GWRE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 180 shares of the technology company’s stock, valued at approximately $33,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Guidewire Software by 24.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock worth $626,918,000 after acquiring an additional 679,558 shares during the period. Linonia Partnership LP grew its holdings in Guidewire Software by 8.4% during the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after buying an additional 185,077 shares in the last quarter. Sei Investments Co. raised its position in shares of Guidewire Software by 1.3% during the second quarter. Sei Investments Co. now owns 405,519 shares of the technology company’s stock valued at $55,917,000 after buying an additional 5,235 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Guidewire Software by 65.7% in the second quarter. AQR Capital Management LLC now owns 291,907 shares of the technology company’s stock worth $40,251,000 after buying an additional 115,757 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of 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.

Insider Transactions at Guidewire Software

In other news, insider John P. Mullen sold 6,718 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $1,156,570.88. Following the completion of the sale, the insider now owns 160,099 shares of the company’s stock, valued at approximately $27,562,643.84. This represents a 4.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Winston King sold 4,514 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $172.66, for a total value of $779,387.24. Following the sale, the insider now owns 48,237 shares of the company’s stock, valued at approximately $8,328,600.42. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,601 shares of company stock valued at $9,116,179. 0.48% of the stock is currently owned by company insiders.

Guidewire Software Stock Up 1.6 %

GWRE opened at $204.07 on Wednesday. The business has a fifty day moving average of $189.83 and a 200 day moving average of $158.96. The stock has a market cap of $17.04 billion, a P/E ratio of -2,550.49, a PEG ratio of 51.96 and a beta of 1.18. Guidewire Software, Inc. has a 52-week low of $95.02 and a 52-week high of $207.10.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GWRE. JPMorgan Chase & Co. lifted their price target on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Stifel Nicolaus raised their price target on Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $215.00 target price on shares of Guidewire Software in a research report on Tuesday, November 19th. Citigroup boosted their price target on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, DA Davidson reiterated a “buy” rating and set a $168.00 price objective on shares of Guidewire Software in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.08.

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.