Guidewire Software, Inc. (NYSE:GWRE) Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its stake in Guidewire Software, Inc. (NYSE:GWRE) by 537.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 172 shares of the technology company’s stock after purchasing an additional 145 shares during the quarter. Assetmark Inc.’s holdings in Guidewire Software were worth $31,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GWRE. Rothschild Investment LLC acquired a new stake in shares of Guidewire Software in the second quarter valued at about $31,000. DT Investment Partners LLC acquired a new stake in shares of Guidewire Software during the second quarter worth $41,000. Lynx Investment Advisory acquired a new stake in Guidewire Software in the 2nd quarter worth about $41,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Guidewire Software by 21.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock worth $63,000 after acquiring an additional 60 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Guidewire Software in the 2nd quarter valued at $55,000.

Guidewire Software Stock Performance

Shares of NYSE GWRE opened at $196.35 on Wednesday. Guidewire Software, Inc. has a 1 year low of $95.02 and a 1 year high of $199.33. The stock’s 50-day simple moving average is $184.55 and its 200-day simple moving average is $153.67. The firm has a market cap of $16.40 billion, a price-to-earnings ratio of -2,454.01, a PEG ratio of 49.72 and a beta of 1.18.

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 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 company had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. During the same period 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. As a group, research analysts predict that Guidewire Software, Inc. will post 0.53 EPS for the current year.

Insider Buying and Selling at Guidewire Software

In other news, CFO Jeffrey Elliott Cooper sold 4,956 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $172.70, for a total value of $855,901.20. Following the transaction, the chief financial officer now directly owns 78,411 shares in the company, valued at approximately $13,541,579.70. This trade represents a 5.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $187.68, for a total transaction of $253,368.00. Following the completion of the transaction, the president now directly owns 190,611 shares of the company’s stock, valued at $35,773,872.48. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,251 shares of company stock worth $8,849,257 in the last ninety days. 0.48% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $215.00 price target on shares of Guidewire Software in a research report on Tuesday. Citigroup increased their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, Stifel Nicolaus upped their price target on shares of Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.69.

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.