Icon Wealth Advisors LLC Increases Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Icon Wealth Advisors LLC grew its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 72.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,984 shares of the technology company’s stock after purchasing an additional 2,512 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Guidewire Software were worth $1,095,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Trust N.A. grew its position in shares of Guidewire Software by 1.1% during the third quarter. Raymond James Trust N.A. now owns 16,289 shares of the technology company’s stock worth $2,980,000 after acquiring an additional 171 shares during the last quarter. Navellier & Associates Inc. purchased a new stake in Guidewire Software during the 3rd quarter valued at approximately $4,817,000. Massachusetts Financial Services Co. MA increased its stake in Guidewire Software by 24.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock valued at $626,918,000 after buying an additional 679,558 shares during the period. Makena Capital Management LLC increased its stake in Guidewire Software by 62.0% in the 3rd quarter. Makena Capital Management LLC now owns 89,967 shares of the technology company’s stock valued at $16,459,000 after buying an additional 34,422 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Guidewire Software by 116.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,333 shares of the technology company’s stock worth $20,550,000 after buying an additional 60,524 shares during the last quarter.

Insider Buying and Selling

In other Guidewire Software news, President John P. Mullen sold 1,350 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $197.72, for a total transaction of $266,922.00. Following the transaction, the president now owns 189,261 shares of the company’s stock, valued at $37,420,684.92. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the transaction, the chief executive officer now owns 287,662 shares in the company, valued at approximately $49,523,889.92. This trade represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,601 shares of company stock worth $9,116,179. 0.48% of the stock is owned by insiders.

Guidewire Software Price Performance

NYSE GWRE opened at $202.77 on Friday. Guidewire Software, Inc. has a fifty-two week low of $95.02 and a fifty-two week high of $202.99. The business has a fifty day moving average of $185.74 and a 200-day moving average of $154.29.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Wells Fargo & Company boosted their target price on Guidewire Software from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a report on Friday, October 11th. BTIG Research lifted their price target on Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Robert W. Baird increased their price objective on Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday. One investment 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.69.

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.