Wedmont Private Capital Purchases New Shares in Guidewire Software, Inc. (NYSE:GWRE)

Wedmont Private Capital purchased a new stake in shares of Guidewire Software, Inc. (NYSE:GWRE) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,499 shares of the technology company’s stock, valued at approximately $207,000.

Several other hedge funds also recently made changes to their positions in GWRE. Massachusetts Financial Services Co. MA purchased a new position in Guidewire Software during the fourth quarter valued at $105,311,000. Norges Bank purchased a new position in Guidewire Software during the fourth quarter valued at $97,829,000. Whale Rock Capital Management LLC raised its stake in Guidewire Software by 23.4% during the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock valued at $148,323,000 after buying an additional 240,622 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in Guidewire Software by 3,308.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 189,525 shares of the technology company’s stock valued at $20,666,000 after buying an additional 183,964 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of Guidewire Software by 34.1% in the fourth quarter. Brown Advisory Inc. now owns 638,258 shares of the technology company’s stock worth $69,596,000 after purchasing an additional 162,438 shares during the last quarter.

Guidewire Software Stock Up 0.6 %

NYSE GWRE opened at $146.73 on Wednesday. The firm 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 moving average price of $139.76 and a 200-day moving average price of $124.15. Guidewire Software, Inc. has a twelve month low of $78.05 and a twelve month high of $153.85.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GWRE shares. Robert W. Baird boosted their price target on Guidewire Software from $140.00 to $152.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Wells Fargo & Company lifted their price objective on Guidewire Software from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, June 21st. Stifel Nicolaus lifted their price objective on Guidewire Software from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Citigroup lifted 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, BTIG Research lifted 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Guidewire Software currently has an average rating of “Moderate Buy” and a consensus price target of $137.31.

Insider Buying and Selling at Guidewire Software

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

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.