Oppenheimer & Co. Inc. Purchases Shares of 2,269 Guidewire Software, Inc. (NYSE:GWRE)

Oppenheimer & Co. Inc. acquired a new position in shares of Guidewire Software, Inc. (NYSE:GWRE) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,269 shares of the technology company’s stock, valued at approximately $415,000.

Other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its holdings in Guidewire Software by 23.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock valued at $378,832,000 after purchasing an additional 516,942 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Guidewire Software by 18,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock worth $472,220,000 after buying an additional 256,702 shares during the last quarter. Whale Rock Capital Management LLC boosted its holdings in shares of 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 in the last quarter. Teca Partners LP acquired a new position in shares of Guidewire Software in the 2nd quarter valued at $25,893,000. Finally, Linonia Partnership LP raised its stake in Guidewire Software by 8.4% during the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after acquiring an additional 185,077 shares in the last quarter.

Insider Activity

In other news, CEO Michael George Rosenbaum sold 23,379 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $4,024,928.64. Following the sale, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. This represents a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John P. Mullen sold 6,718 shares of Guidewire Software stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $1,156,570.88. Following the sale, the insider now owns 160,099 shares of the company’s stock, valued at approximately $27,562,643.84. This represents a 4.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,601 shares of company stock worth $9,116,179. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

GWRE has been the subject of several research analyst reports. Stifel Nicolaus upped their price objective on shares of Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday. Oppenheimer raised their price target on Guidewire Software from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday. Citigroup boosted their price objective on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. BTIG Research raised their target price on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, JMP Securities upped their price target on shares of Guidewire Software from $179.00 to $200.00 and gave the company a “market outperform” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have assigned 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 an average price target of $183.69.

Guidewire Software Trading Up 1.4 %

Shares of GWRE stock opened at $200.00 on Friday. Guidewire Software, Inc. has a 12-month low of $95.02 and a 12-month high of $201.60. The company has a market cap of $16.70 billion, a price-to-earnings ratio of -2,499.64, a price-to-earnings-growth ratio of 50.80 and a beta of 1.18. The stock has a 50 day simple moving average of $185.74 and a 200-day simple moving average of $154.29.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. The company had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. On average, equities analysts forecast that Guidewire Software, Inc. will post 0.53 earnings per share for the current fiscal year.

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.