Mutual of America Capital Management LLC Purchases 42,808 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Mutual of America Capital Management LLC raised its position in Guidewire Software, Inc. (NYSE:GWRE) by 1,852.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,119 shares of the technology company’s stock after buying an additional 42,808 shares during the quarter. Mutual of America Capital Management LLC owned about 0.05% of Guidewire Software worth $8,453,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Commonwealth Equity Services LLC purchased a new position in Guidewire Software during the fourth quarter worth about $223,000. Norges Bank purchased a new position in shares of Guidewire Software in the 4th quarter worth about $9,107,000. National Bank of Canada FI boosted its holdings in shares of Guidewire Software by 39.0% in the 4th quarter. National Bank of Canada FI now owns 1,087 shares of the technology company’s stock worth $183,000 after purchasing an additional 305 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in shares of Guidewire Software in the 4th quarter worth about $607,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Guidewire Software by 11.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 209,585 shares of the technology company’s stock worth $35,332,000 after purchasing an additional 21,804 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GWRE. The Goldman Sachs Group increased their target price on Guidewire Software from $235.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. DA Davidson reissued a “neutral” rating and issued a $226.00 target price on shares of Guidewire Software in a research report on Wednesday, June 4th. Oppenheimer increased their target price on Guidewire Software from $230.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. increased their target price on Guidewire Software from $271.00 to $288.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 25th. Finally, Robert W. Baird increased their target price on Guidewire Software from $265.00 to $270.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.92.

Guidewire Software Stock Up 1.0%

Shares of NYSE:GWRE opened at $225.27 on Thursday. Guidewire Software, Inc. has a 1 year low of $140.61 and a 1 year high of $263.20. The business has a 50 day simple moving average of $232.44 and a two-hundred day simple moving average of $210.80. The firm has a market capitalization of $18.97 billion, a PE ratio of 563.18, a price-to-earnings-growth ratio of 15.73 and a beta of 1.16. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.23 and a quick ratio of 3.23.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.41. Guidewire Software had a net margin of 3.04% and a return on equity of 6.96%. The firm had revenue of $293.51 million during the quarter, compared to the consensus estimate of $286.40 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was up 22.0% on a year-over-year basis. On average, equities analysts predict that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Insider Activity at Guidewire Software

In other Guidewire Software news, insider James Winston King sold 2,482 shares of the company’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $220.65, for a total transaction of $547,653.30. Following the completion of the sale, the insider owned 37,441 shares in the company, valued at $8,261,356.65. This represents a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President John P. Mullen sold 3,000 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $223.28, for a total value of $669,840.00. Following the sale, the president owned 143,489 shares of the company’s stock, valued at approximately $32,038,223.92. This represents a 2.05% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,342 shares of company stock worth $5,572,791. Insiders own 0.48% of the company’s stock.

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.