Wasatch Advisors LP Grows Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Wasatch Advisors LP lifted its position in Guidewire Software, Inc. (NYSE:GWRE) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,874,758 shares of the technology company’s stock after buying an additional 115,600 shares during the period. Guidewire Software makes up about 1.8% of Wasatch Advisors LP’s portfolio, making the stock its 11th largest position. Wasatch Advisors LP owned approximately 3.49% of Guidewire Software worth $335,513,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. RiverPark Advisors LLC acquired a new position in shares of Guidewire Software during the fourth quarter valued at about $27,000. Transcendent Capital Group LLC acquired a new position in Guidewire Software during the 4th quarter valued at approximately $27,000. Lindbrook Capital LLC lifted its stake in shares of Guidewire Software by 45.7% during the fourth quarter. Lindbrook Capital LLC now owns 421 shares of the technology company’s stock worth $46,000 after buying an additional 132 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Guidewire Software during the fourth quarter valued at $56,000. Finally, Jones Financial Companies Lllp acquired a new position in shares of Guidewire Software in the 4th quarter valued at $57,000.

Analysts Set New Price Targets

A number of brokerages have commented on GWRE. Citigroup lifted their price target on Guidewire Software from $109.00 to $122.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 4th. Wells Fargo & Company increased their price target on shares of Guidewire Software from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, June 21st. Stifel Nicolaus upped their price objective on shares of Guidewire Software from $130.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Oppenheimer increased their price objective on shares of Guidewire Software from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 5th. Finally, Royal Bank of Canada boosted their target price on shares of Guidewire Software from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $133.08.

Insider Activity

In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $111.35, for a total transaction of $150,322.50. Following the completion of the transaction, the insider now owns 148,047 shares of the company’s stock, valued at $16,485,033.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Jeffrey Elliott Cooper sold 3,017 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $405,907.18. Following the transaction, the chief financial officer now directly owns 63,479 shares of the company’s stock, valued at $8,540,464.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $111.35, for a total transaction of $150,322.50. Following the sale, the insider now directly owns 148,047 shares of the company’s stock, valued at approximately $16,485,033.45. The disclosure for this sale can be found here. Insiders have sold a total of 13,064 shares of company stock worth $1,710,361 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

Guidewire Software Price Performance

GWRE stock traded down $0.14 during mid-day trading on Tuesday, reaching $138.85. 427,890 shares of the company’s stock were exchanged, compared to its average volume of 633,887. Guidewire Software, Inc. has a 12-month low of $74.03 and a 12-month high of $139.91. The stock’s 50 day moving average is $124.07 and its 200 day moving average is $117.06. The company has a market cap of $11.48 billion, a price-to-earnings ratio of -1,067.99 and a beta of 1.19.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Tuesday, June 4th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.14. Guidewire Software had a negative return on equity of 1.19% and a negative net margin of 1.11%. The firm had revenue of $240.68 million for the quarter, compared to analyst estimates of $231.46 million. On average, research analysts forecast that Guidewire Software, Inc. will post -0.31 earnings per share 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.