PNC Financial Services Group Inc. Has $878,000 Holdings in Guidewire Software, Inc. (NYSE:GWRE)

PNC Financial Services Group Inc. lessened its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 26.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,211 shares of the technology company’s stock after selling 1,910 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Guidewire Software were worth $878,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc bought a new stake in Guidewire Software during the fourth quarter worth approximately $25,000. Assetmark Inc. lifted its stake in shares of Guidewire Software by 537.0% in the third quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after buying an additional 145 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Guidewire Software during the 3rd quarter worth $33,000. Cullen Frost Bankers Inc. bought a new stake in shares of Guidewire Software during the 4th quarter worth $34,000. Finally, Brooklyn Investment Group bought a new position in Guidewire Software in the 3rd quarter worth $42,000.

Insider Buying and Selling at Guidewire Software

In other Guidewire Software news, insider James Winston King sold 794 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $174.43, for a total transaction of $138,497.42. Following the sale, the insider now directly owns 45,934 shares of the company’s stock, valued at approximately $8,012,267.62. This represents a 1.70 % 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 link. Also, President John P. Mullen sold 1,350 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $170.43, for a total transaction of $230,080.50. Following the sale, the president now directly owns 180,746 shares of the company’s stock, valued at approximately $30,804,540.78. The trade was a 0.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,622 shares of company stock worth $5,112,632 over the last three months. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research report on Friday, March 7th. DA Davidson reaffirmed a “buy” rating and issued a $210.00 target price on shares of Guidewire Software in a report on Wednesday, December 4th. The Goldman Sachs Group upped their price target on Guidewire Software from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Stifel Nicolaus raised their price objective on shares of Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company upped their target price on shares of Guidewire Software from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $206.08.

Guidewire Software Price Performance

Shares of Guidewire Software stock opened at $191.66 on Tuesday. The firm has a market cap of $16.08 billion, a P/E ratio of 532.39, a price-to-earnings-growth ratio of 37.21 and a beta of 1.31. The firm’s 50-day simple moving average is $195.71 and its 200-day simple moving average is $186.41. Guidewire Software, Inc. has a twelve month low of $107.00 and a twelve month high of $219.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Thursday, March 6th. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.44). Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. The company had revenue of $289.48 million for the quarter, compared to analyst estimates of $285.74 million. As a group, research analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

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.