Envestnet Asset Management Inc. Buys 1,626 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Envestnet Asset Management Inc. increased its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,098 shares of the technology company’s stock after buying an additional 1,626 shares during the quarter. Envestnet Asset Management Inc. owned 0.25% of Guidewire Software worth $28,005,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Guidewire Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock worth $949,430,000 after acquiring an additional 67,439 shares in the last quarter. Wasatch Advisors LP grew its position in Guidewire Software by 4.2% in the 1st 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. Whale Rock Capital Management LLC increased its stake in Guidewire Software by 23.4% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock valued at $148,323,000 after buying an additional 240,622 shares during the last quarter. Blair William & Co. IL lifted its position in shares of Guidewire Software by 5.4% during the 1st quarter. Blair William & Co. IL now owns 1,244,416 shares of the technology company’s stock worth $145,236,000 after buying an additional 64,149 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Guidewire Software in the 4th quarter worth approximately $97,829,000.

Guidewire Software Stock Performance

NYSE:GWRE opened at $174.54 on Friday. The business’s fifty day moving average is $151.15 and its 200 day moving average is $131.80. The firm has a market cap of $14.43 billion, a price-to-earnings ratio of -1,342.62 and a beta of 1.18. Guidewire Software, Inc. has a 52-week low of $85.15 and a 52-week high of $176.00.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.32%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. Equities analysts predict that Guidewire Software, Inc. will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling at Guidewire Software

In related news, insider John P. Mullen sold 1,350 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $139.12, for a total value of $187,812.00. Following the sale, the insider now owns 139,171 shares in the company, valued at $19,361,469.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Guidewire Software news, 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 transaction, the insider now owns 160,099 shares of the company’s stock, valued at approximately $27,562,643.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $139.12, for a total transaction of $187,812.00. Following the sale, the insider now owns 139,171 shares in the company, valued at approximately $19,361,469.52. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock valued at $8,984,892 in the last three months. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

GWRE has been the subject of a number of research analyst reports. Citigroup increased their price target on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. DA Davidson reiterated a “buy” rating and set a $168.00 target price on shares of Guidewire Software in a research note on Friday, September 6th. Oppenheimer increased their price target on shares of Guidewire Software from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Stifel Nicolaus raised their price objective on shares of Guidewire Software from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, JMP Securities boosted their target price on shares of Guidewire Software from $141.00 to $179.00 and gave the company a “market outperform” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $161.69.

Guidewire Software Company 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.