The Manufacturers Life Insurance Company Boosts Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

The Manufacturers Life Insurance Company increased its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 17.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,660 shares of the technology company’s stock after buying an additional 3,462 shares during the period. The Manufacturers Life Insurance Company’s holdings in Guidewire Software were worth $3,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. KBC Group NV purchased a new position in Guidewire Software during the fourth quarter valued at $173,000. Sei Investments Co. lifted its stake in Guidewire Software by 15.4% in the 4th quarter. Sei Investments Co. now owns 370,123 shares of the technology company’s stock valued at $40,358,000 after buying an additional 49,320 shares in the last quarter. Icon Wealth Advisors LLC acquired a new stake in Guidewire Software in the 4th quarter worth about $520,000. Frontier Capital Management Co. LLC increased its stake in Guidewire Software by 6.1% during the 4th quarter. Frontier Capital Management Co. LLC now owns 807,693 shares of the technology company’s stock worth $88,071,000 after buying an additional 46,456 shares in the last quarter. Finally, Greenstone Partners & Co. LLC increased its stake in Guidewire Software by 12.4% during the 4th quarter. Greenstone Partners & Co. LLC now owns 163,639 shares of the technology company’s stock worth $17,843,000 after buying an additional 18,050 shares in the last quarter.

Guidewire Software Price Performance

Shares of NYSE GWRE opened at $182.58 on Wednesday. The company has a market capitalization of $15.09 billion, a P/E ratio of -1,404.46 and a beta of 1.19. The company has a 50 day simple moving average of $159.65 and a 200-day simple moving average of $137.44. Guidewire Software, Inc. has a 1 year low of $85.15 and a 1 year high of $184.96.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.08. The company had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share. As a group, research analysts expect that Guidewire Software, Inc. will post 0.49 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Robert W. Baird boosted their price target on Guidewire Software from $175.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Wells Fargo & Company increased their target price on shares of Guidewire Software from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. BTIG Research boosted their price target on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Oppenheimer upped their price objective on shares of Guidewire Software from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Guidewire Software presently has an average rating of “Moderate Buy” and an average price target of $173.92.

Insider Activity at Guidewire Software

In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the completion of the sale, the insider now directly owns 137,821 shares in the company, valued at $20,539,463.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider John P. Mullen sold 1,350 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the completion of the transaction, the insider now owns 137,821 shares of the company’s stock, valued at approximately $20,539,463.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John P. Mullen sold 6,718 shares of the business’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 directly owns 160,099 shares in the company, valued at approximately $27,562,643.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,601 shares of company stock worth $8,984,892. Company insiders own 0.38% of the company’s stock.

Guidewire Software 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.