Harvest Fund Management Co. Ltd Boosts Stake in Guidewire Software, Inc. (NYSE:GWRE)

Harvest Fund Management Co. Ltd grew its stake in Guidewire Software, Inc. (NYSE:GWRE) by 31.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,017 shares of the technology company’s stock after acquiring an additional 714 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Guidewire Software were worth $552,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GWRE. Massachusetts Financial Services Co. MA grew its holdings in 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 purchasing an additional 679,558 shares during the last quarter. Linonia Partnership LP boosted its position in shares of Guidewire Software by 8.4% in the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after purchasing an additional 185,077 shares in the last quarter. Sei Investments Co. grew its stake in Guidewire Software by 1.3% during the 2nd quarter. Sei Investments Co. now owns 405,519 shares of the technology company’s stock worth $55,917,000 after buying an additional 5,235 shares during the last quarter. AQR Capital Management LLC increased its position in Guidewire Software by 65.7% during the 2nd quarter. AQR Capital Management LLC now owns 291,907 shares of the technology company’s stock valued at $40,251,000 after buying an additional 115,757 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Guidewire Software by 18,001.5% in the third quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock valued at $472,220,000 after buying an additional 256,702 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GWRE. Robert W. Baird upped their price objective on shares of Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. JMP Securities lifted their price target on Guidewire Software from $200.00 to $231.00 and gave the stock a “market outperform” rating in a research report on Monday. DA Davidson restated a “buy” rating and issued a $168.00 price objective on shares of Guidewire Software in a research note on Friday, September 6th. Stifel Nicolaus upped their target price on Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $215.00 price target on shares of Guidewire Software in a research report on Tuesday, November 19th. One equities 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. Based on data from MarketBeat, Guidewire Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.08.

Guidewire Software Trading Up 0.7 %

NYSE GWRE opened at $204.46 on Wednesday. Guidewire Software, Inc. has a twelve month low of $95.02 and a twelve month high of $207.10. The stock has a 50-day moving average of $186.96 and a 200 day moving average of $156.04. The stock has a market capitalization of $17.08 billion, a price-to-earnings ratio of -2,555.75, a PEG ratio of 52.47 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating 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 quarter last year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts predict that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael George Rosenbaum sold 23,379 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $4,024,928.64. Following the completion of the sale, the chief executive officer now owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. This trade represents a 7.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey Elliott Cooper sold 10,334 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $1,779,101.44. Following the transaction, the chief financial officer now directly owns 83,367 shares in the company, valued at $14,352,462.72. This trade represents a 11.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,601 shares of company stock worth $9,116,179. Corporate insiders own 0.48% of the company’s stock.

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.