Azzad Asset Management Inc. ADV Cuts Stake in Guidewire Software, Inc. (NYSE:GWRE)

Azzad Asset Management Inc. ADV lessened its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 16.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,476 shares of the technology company’s stock after selling 1,263 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Guidewire Software were worth $1,185,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GWRE. Allspring Global Investments Holdings LLC increased its stake in shares of Guidewire Software by 4.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock worth $283,000 after purchasing an additional 79 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Guidewire Software by 1.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock worth $1,252,000 after buying an additional 116 shares during the last quarter. CHICAGO TRUST Co NA raised its stake in shares of Guidewire Software by 4.8% in the second quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock valued at $392,000 after buying an additional 130 shares during the period. Legacy Advisors LLC lifted its position in shares of Guidewire Software by 1.6% during the 2nd quarter. Legacy Advisors LLC now owns 8,329 shares of the technology company’s stock valued at $1,148,000 after buying an additional 135 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Guidewire Software by 8.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,215 shares of the technology company’s stock valued at $305,000 after buying an additional 165 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GWRE. The Goldman Sachs Group boosted their price objective on Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. 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. Royal Bank of Canada raised their price objective on shares of Guidewire Software from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. JPMorgan Chase & Co. boosted their target price 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.92.

Guidewire Software Price Performance

Shares of GWRE opened at $182.17 on Tuesday. Guidewire Software, Inc. has a 1-year low of $85.15 and a 1-year high of $184.96. The company has a market capitalization of $15.06 billion, a P/E ratio of -1,401.31 and a beta of 1.19. The firm’s 50 day simple moving average is $159.00 and its 200 day simple moving average is $136.95.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, beating the consensus estimate 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 posted $0.30 EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities analysts anticipate that Guidewire Software, Inc. will post 0.49 earnings per share for the current year.

Insider Activity at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the transaction, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Jeffrey Elliott Cooper sold 10,334 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $1,779,101.44. Following the completion of the transaction, the chief financial officer now directly owns 83,367 shares of the company’s stock, valued at $14,352,462.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael George Rosenbaum sold 23,379 shares of the firm’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 $4,024,928.64. Following the completion of the transaction, the chief executive officer now owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,601 shares of company stock valued at $8,984,892. Corporate insiders own 0.38% 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.