Envestnet Asset Management Inc. Boosts Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Envestnet Asset Management Inc. increased its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 3.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 232,541 shares of the technology company’s stock after buying an additional 8,697 shares during the quarter. Envestnet Asset Management Inc. owned about 0.29% of Guidewire Software worth $19,080,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of Guidewire Software during the 1st quarter valued at about $3,839,000. Main Street Financial Solutions LLC acquired a new position in Guidewire Software in the first quarter valued at approximately $381,000. US Bancorp DE grew its position in Guidewire Software by 14.8% in the first quarter. US Bancorp DE now owns 20,995 shares of the technology company’s stock worth $1,723,000 after acquiring an additional 2,700 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Guidewire Software by 513.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,141 shares of the technology company’s stock valued at $71,000 after purchasing an additional 955 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Guidewire Software by 0.7% during the 1st quarter. Treasurer of the State of North Carolina now owns 35,826 shares of the technology company’s stock worth $2,940,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 98.28% of the company’s stock.

Insider Buying and Selling at Guidewire Software

In other news, insider James Winston King sold 1,050 shares of Guidewire Software stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $71.12, for a total transaction of $74,676.00. Following the completion of the sale, the insider now directly owns 34,691 shares of the company’s stock, valued at approximately $2,467,223.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider James Winston King sold 1,050 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $71.12, for a total transaction of $74,676.00. Following the sale, the insider now owns 34,691 shares of the company’s stock, valued at approximately $2,467,223.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Priscilla Hung sold 1,981 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $71.13, for a total value of $140,908.53. Following the completion of the transaction, the chief operating officer now directly owns 52,154 shares of the company’s stock, valued at $3,709,714.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,187 shares of company stock valued at $937,981. Insiders own 0.30% of the company’s stock.

Guidewire Software Trading Up 0.2 %

GWRE opened at $86.56 on Friday. The business has a fifty day moving average price of $79.65 and a 200 day moving average price of $77.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.65 and a quick ratio of 3.65. Guidewire Software, Inc. has a 12 month low of $52.08 and a 12 month high of $87.07. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of -46.29 and a beta of 1.23.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, June 1st. The technology company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.01). Guidewire Software had a negative net margin of 17.63% and a negative return on equity of 12.14%. The firm had revenue of $207.49 million during the quarter, compared to analyst estimates of $214.08 million. During the same period last year, the business earned ($0.61) EPS. Sell-side analysts expect that Guidewire Software, Inc. will post -1.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. StockNews.com started coverage on shares of Guidewire Software in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. 58.com reaffirmed a “maintains” rating on shares of Guidewire Software in a research report on Friday, June 2nd. Stifel Nicolaus raised Guidewire Software from a “hold” rating to a “buy” rating and boosted their target price for the company from $75.00 to $85.00 in a research report on Tuesday, June 27th. Wells Fargo & Company upgraded Guidewire Software from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $65.00 to $85.00 in a research report on Thursday. Finally, Oppenheimer boosted their price objective on Guidewire Software from $85.00 to $95.00 in a report on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Guidewire Software has a consensus rating of “Moderate Buy” and an average target price of $87.82.

Guidewire Software Profile

Guidewire Software, Inc provides software products for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud comprising 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.