Sequoia Financial Advisors LLC Trims Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Sequoia Financial Advisors LLC trimmed its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 3.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,530 shares of the technology company’s stock after selling 62 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Guidewire Software were worth $280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GWRE. Rothschild Investment LLC purchased a new position in Guidewire Software during the 2nd quarter worth $31,000. ORG Partners LLC purchased a new position in Guidewire Software during the 1st quarter worth $29,000. DT Investment Partners LLC purchased a new position in Guidewire Software during the 2nd quarter worth $41,000. Lynx Investment Advisory purchased a new position in Guidewire Software during the 2nd quarter worth $41,000. Finally, Canada Pension Plan Investment Board purchased a new position in Guidewire Software during the 2nd quarter worth $55,000.

Insider Activity at Guidewire Software

In related news, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total value of $201,190.50. Following the completion of the transaction, the insider now owns 137,821 shares in the company, valued at $20,539,463.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Guidewire Software news, insider James Winston King sold 4,514 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $172.66, for a total transaction of $779,387.24. Following the completion of the sale, the insider now directly owns 48,237 shares in the company, valued at approximately $8,328,600.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total value of $201,190.50. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock worth $9,050,448 in the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Guidewire Software Stock Up 0.5 %

Shares of GWRE stock opened at $188.01 on Tuesday. The stock has a market cap of $15.54 billion, a PE ratio of -1,446.23, a price-to-earnings-growth ratio of 48.42 and a beta of 1.19. The business has a 50-day simple moving average of $171.36 and a 200-day simple moving average of $144.57. Guidewire Software, Inc. has a 52-week low of $85.86 and a 52-week high of $191.48.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results 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 return on equity of 1.29% and a negative net margin of 0.62%. The firm had revenue of $291.50 million during the quarter, compared to analyst estimates of $283.84 million. During the same quarter in the previous year, the business earned $0.30 EPS. Guidewire Software’s revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Guidewire Software, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Guidewire Software from $180.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Citigroup raised their price objective on Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Robert W. Baird raised their price objective on Guidewire Software from $175.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Wells Fargo & Company raised their price objective on Guidewire Software from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $200.00 price target (up previously from $185.00) on shares of Guidewire Software in a research report on Friday, October 11th. One research 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, the company currently has an average rating of “Moderate Buy” and an average price target of $178.62.

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.