Quest Investment Management LLC Sells 3,967 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Quest Investment Management LLC reduced its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 21.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,828 shares of the technology company’s stock after selling 3,967 shares during the quarter. Quest Investment Management LLC’s holdings in Guidewire Software were worth $2,045,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GWRE. Alberta Investment Management Corp grew its holdings in shares of Guidewire Software by 11.1% during the 4th quarter. Alberta Investment Management Corp now owns 33,678 shares of the technology company’s stock worth $3,672,000 after purchasing an additional 3,355 shares in the last quarter. Teca Partners LP lifted its stake in Guidewire Software by 31.1% during the fourth quarter. Teca Partners LP now owns 195,599 shares of the technology company’s stock worth $21,328,000 after purchasing an additional 46,453 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Guidewire Software during the fourth quarter valued at approximately $204,000. Wasatch Advisors LP grew its stake in shares of Guidewire Software by 4.2% in the 1st quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock valued at $335,513,000 after purchasing an additional 115,600 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Guidewire Software in the 1st quarter valued at approximately $417,000.

Guidewire Software Price Performance

GWRE stock opened at $174.54 on Friday. The stock has a market capitalization of $14.43 billion, a PE ratio of -1,342.62 and a beta of 1.18. The company has a 50 day moving average price of $151.15 and a 200 day moving average price of $131.80. Guidewire Software, Inc. has a fifty-two week low of $85.15 and a fifty-two week high of $176.00.

Guidewire Software (NYSE:GWRE) last released its 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 company had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative return on equity of 1.32% and a negative net margin of 0.62%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 earnings per share. As a group, equities analysts expect that Guidewire Software, Inc. will post 0.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Guidewire Software

In other news, CFO Jeffrey Elliott Cooper sold 4,956 shares of Guidewire Software stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $172.70, for a total transaction of $855,901.20. Following the completion of the sale, the chief financial officer now owns 78,411 shares in the company, valued at approximately $13,541,579.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Jeffrey Elliott Cooper sold 4,956 shares of Guidewire Software stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $172.70, for a total transaction of $855,901.20. Following the completion of the sale, the chief financial officer now directly owns 78,411 shares of the company’s stock, valued at $13,541,579.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James Winston King sold 4,514 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $172.66, for a total value of $779,387.24. Following the completion of the transaction, the insider now directly owns 48,237 shares in the company, valued at approximately $8,328,600.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,601 shares of company stock worth $8,984,892. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

GWRE has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price target on Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Bank of America boosted their target price on shares of Guidewire Software from $80.00 to $95.00 and gave the company an “underperform” rating in a research note on Wednesday, June 5th. Wells Fargo & Company increased their target price on shares of Guidewire Software from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. JMP Securities boosted their price target on shares of Guidewire Software from $141.00 to $179.00 and gave the company a “market outperform” rating in a research report on Friday, September 6th. Finally, Stifel Nicolaus raised their price objective on shares of Guidewire Software from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Guidewire Software has an average rating of “Moderate Buy” and an average target price of $161.69.

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.