Wedmont Private Capital Takes Position in Guidewire Software, Inc. (NYSE:GWRE)

Wedmont Private Capital bought a new stake in Guidewire Software, Inc. (NYSE:GWRE) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,499 shares of the technology company’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GWRE. Transcendent Capital Group LLC acquired a new position in Guidewire Software during the 4th quarter worth about $27,000. ORG Partners LLC acquired a new position in Guidewire Software during the 1st quarter worth about $29,000. Lynx Investment Advisory acquired a new position in Guidewire Software during the 2nd quarter worth about $41,000. Lindbrook Capital LLC lifted its position in Guidewire Software by 45.7% during the 4th quarter. Lindbrook Capital LLC now owns 421 shares of the technology company’s stock worth $46,000 after buying an additional 132 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in Guidewire Software during the 4th quarter worth about $56,000.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Robert W. Baird boosted their price objective on Guidewire Software from $140.00 to $152.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. JPMorgan Chase & Co. boosted their price objective on Guidewire Software from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. BTIG Research boosted their price objective on Guidewire Software from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Citigroup boosted their price objective on Guidewire Software from $109.00 to $122.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. Finally, Oppenheimer boosted their price objective on Guidewire Software from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $137.31.

Insiders Place Their Bets

In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $123.16, for a total transaction of $166,266.00. Following the sale, the insider now directly owns 146,697 shares in the company, valued at approximately $18,067,202.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Jeffrey Elliott Cooper sold 1,765 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $134.20, for a total transaction of $236,863.00. Following the completion of the transaction, the chief financial officer now directly owns 61,714 shares of the company’s stock, valued at approximately $8,282,018.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $123.16, for a total transaction of $166,266.00. Following the transaction, the insider now directly owns 146,697 shares of the company’s stock, valued at $18,067,202.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,064 shares of company stock worth $1,747,850. Company insiders own 0.38% of the company’s stock.

Guidewire Software Stock Performance

NYSE GWRE opened at $146.73 on Wednesday. The stock has a market cap of $12.13 billion, a price-to-earnings ratio of -1,128.69 and a beta of 1.19. The business has a 50 day simple moving average of $139.76 and a 200 day simple moving average of $124.15. Guidewire Software, Inc. has a 52-week low of $78.05 and a 52-week high of $153.85.

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

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.