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

Icon Wealth Advisors LLC lifted its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 72.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,984 shares of the technology company’s stock after acquiring 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 Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GWRE. Rothschild Investment LLC acquired a new position in shares of Guidewire Software during the second quarter worth about $31,000. Assetmark Inc. lifted its position in Guidewire Software by 537.0% during the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after acquiring an additional 145 shares in the last quarter. Lynx Investment Advisory purchased a new position in Guidewire Software in the 2nd quarter worth approximately $41,000. DT Investment Partners LLC acquired a new stake in Guidewire Software in the second quarter valued at approximately $41,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Guidewire Software during the second quarter valued at approximately $55,000.

Insider Buying and Selling

In related news, President John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total transaction of $266,922.00. Following the sale, the president now owns 189,261 shares of the company’s stock, valued at $37,420,684.92. The trade was a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael George Rosenbaum sold 23,379 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $4,024,928.64. Following the transaction, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. The trade was a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,601 shares of company stock valued at $9,116,179 in the last three months. 0.48% of the stock is currently owned by corporate insiders.

Guidewire Software Stock Up 1.5 %

Shares of NYSE GWRE opened at $202.77 on Friday. Guidewire Software, Inc. has a 1-year low of $95.02 and a 1-year high of $202.99. The business’s fifty day moving average price is $185.74 and its two-hundred day moving average price is $154.29.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. The business had revenue of $291.50 million during the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. As a group, equities research analysts anticipate that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday. JMP Securities raised their target price on Guidewire Software from $179.00 to $200.00 and gave the company a “market outperform” rating in a research note on Friday, October 11th. Wells Fargo & Company boosted their price target on Guidewire Software from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday. Robert W. Baird increased their price target on Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.