Bleakley Financial Group LLC Raises Stake in Guidewire Software, Inc. (NYSE:GWRE)

Bleakley Financial Group LLC increased its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 12.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,989 shares of the technology company’s stock after buying an additional 330 shares during the period. Bleakley Financial Group LLC’s holdings in Guidewire Software were worth $547,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its position in Guidewire Software by 8.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,900 shares of the technology company’s stock worth $970,000 after buying an additional 678 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in Guidewire Software by 78.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 498 shares of the technology company’s stock valued at $58,000 after acquiring an additional 219 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Guidewire Software during the first quarter valued at about $4,112,000. Edmonds Duncan Registered Investment Advisors LLC bought a new position in Guidewire Software during the first quarter worth about $309,000. Finally, Wasatch Advisors LP increased its stake in shares of Guidewire Software by 4.2% in the first quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock worth $335,513,000 after purchasing an additional 115,600 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a report on Friday, October 11th. JMP Securities raised their price target on Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday, October 11th. DA Davidson reiterated a “buy” rating and issued a $168.00 price target on shares of Guidewire Software in a research report on Friday, September 6th. Finally, Robert W. Baird increased their price objective on Guidewire Software from $175.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Guidewire Software has a consensus rating of “Moderate Buy” and a consensus price target of $178.62.

Guidewire Software Stock Performance

NYSE GWRE opened at $189.04 on Tuesday. Guidewire Software, Inc. has a 52-week low of $85.15 and a 52-week high of $191.48. The company has a fifty day moving average of $167.35 and a 200-day moving average of $141.99. The company has a market capitalization of $15.63 billion, a P/E ratio of -1,454.15 and a beta of 1.19.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm 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 company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. As a group, analysts forecast that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Insider Activity

In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total value of $201,190.50. Following the completion of the sale, the insider now directly owns 137,821 shares of the company’s stock, valued at $20,539,463.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction 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 transaction, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at $49,523,889.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction 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 sale, the insider now owns 137,821 shares of the company’s stock, valued at $20,539,463.63. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,251 shares of company stock valued at $8,797,080. 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.