Picton Mahoney Asset Management Invests $4.36 Million in Guidewire Software, Inc. (NYSE:GWRE)

Picton Mahoney Asset Management bought a new position in shares of Guidewire Software, Inc. (NYSE:GWRE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 31,625 shares of the technology company’s stock, valued at approximately $4,362,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of Guidewire Software in the fourth quarter valued at $17,240,000. CWM LLC boosted its stake in shares of Guidewire Software by 18.4% in the 4th quarter. CWM LLC now owns 1,154 shares of the technology company’s stock valued at $126,000 after buying an additional 179 shares during the period. Truist Financial Corp grew its position in shares of Guidewire Software by 10.9% during the fourth quarter. Truist Financial Corp now owns 7,215 shares of the technology company’s stock worth $787,000 after buying an additional 709 shares in the last quarter. New York Life Investment Management LLC increased its stake in shares of Guidewire Software by 6.2% during the fourth quarter. New York Life Investment Management LLC now owns 9,113 shares of the technology company’s stock worth $994,000 after buying an additional 528 shares during the period. Finally, Amalgamated Bank raised its holdings in Guidewire Software by 34.4% in the fourth quarter. Amalgamated Bank now owns 17,151 shares of the technology company’s stock valued at $1,870,000 after acquiring an additional 4,390 shares in the last quarter.

Guidewire Software Price Performance

Shares of NYSE:GWRE traded up $1.27 on Friday, reaching $148.77. The company’s stock had a trading volume of 1,038,286 shares, compared to its average volume of 575,499. Guidewire Software, Inc. has a 52-week low of $81.52 and a 52-week high of $153.85. The stock’s 50-day moving average is $143.33 and its two-hundred day moving average is $127.05.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Tuesday, June 4th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $231.46 million. On average, analysts predict that Guidewire Software, Inc. will post -0.31 EPS for the current year.

Insider Transactions at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 5,582 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $134.54, for a total value of $751,002.28. Following the completion of the sale, the chief executive officer now owns 239,793 shares in the company, valued at approximately $32,261,750.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Jeffrey Elliott Cooper sold 3,017 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total transaction of $405,907.18. Following the transaction, the chief financial officer now owns 63,479 shares of the company’s stock, valued at $8,540,464.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael George Rosenbaum sold 5,582 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total value of $751,002.28. Following the completion of the transaction, the chief executive officer now owns 239,793 shares of the company’s stock, valued at approximately $32,261,750.22. The disclosure for this sale can be found here. Insiders sold 13,064 shares of company stock worth $1,782,775 over the last 90 days. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on GWRE. Wells Fargo & Company boosted their price target on shares of Guidewire Software from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Oppenheimer increased their target price on Guidewire Software from $140.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. DA Davidson lifted their price target on Guidewire Software from $142.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday. BTIG Research increased their price objective on Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a report on Friday. Finally, Robert W. Baird raised their target price on Guidewire Software from $140.00 to $152.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.69.

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.