Element Wealth LLC Makes New Investment in Guidewire Software, Inc. (NYSE:GWRE)

Element Wealth LLC bought a new stake in Guidewire Software, Inc. (NYSE:GWRE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,296 shares of the technology company’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. grew its holdings in shares of Guidewire Software by 370.4% in the third quarter. Assenagon Asset Management S.A. now owns 150,328 shares of the technology company’s stock valued at $27,501,000 after purchasing an additional 118,369 shares during the period. International Assets Investment Management LLC boosted its holdings in Guidewire Software by 18,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock valued at $472,220,000 after purchasing an additional 256,702 shares during the last quarter. Lecap Asset Management Ltd. grew its stake in shares of Guidewire Software by 135.8% in the 3rd quarter. Lecap Asset Management Ltd. now owns 25,554 shares of the technology company’s stock valued at $4,675,000 after buying an additional 14,715 shares during the period. Signaturefd LLC increased its holdings in shares of Guidewire Software by 2.4% during the 3rd quarter. Signaturefd LLC now owns 6,051 shares of the technology company’s stock worth $1,107,000 after buying an additional 139 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Guidewire Software by 3.2% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 28,484 shares of the technology company’s stock valued at $5,211,000 after buying an additional 884 shares during the period.

Guidewire Software Trading Up 0.6 %

Shares of NYSE GWRE opened at $188.05 on Friday. Guidewire Software, Inc. has a 12-month low of $85.15 and a 12-month high of $191.48. The stock has a market cap of $15.54 billion, a P/E ratio of -1,446.54 and a beta of 1.19. The business’s fifty day simple moving average is $169.78 and its 200-day simple moving average is $143.12.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The company had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. During the same quarter last year, the company earned $0.30 EPS. Guidewire Software’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities analysts forecast that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction on Friday, October 18th. The shares were sold at an average price of $187.68, for a total transaction of $253,368.00. Following the completion of the sale, the president now directly owns 190,611 shares of the company’s stock, valued at approximately $35,773,872.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John P. Mullen sold 6,718 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $1,156,570.88. Following the transaction, the insider now owns 160,099 shares in the company, valued at approximately $27,562,643.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $187.68, for a total value of $253,368.00. Following the sale, the president now owns 190,611 shares of the company’s stock, valued at approximately $35,773,872.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,601 shares of company stock worth $9,050,448 in the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GWRE. The Goldman Sachs Group raised their target price on Guidewire Software from $146.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Oppenheimer restated an “outperform” rating and issued a $200.00 price objective (up from $185.00) on shares of Guidewire Software in a report on Friday, October 11th. Royal Bank of Canada increased their target price on shares of Guidewire Software from $180.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. lifted their price target on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Finally, Robert W. Baird upped their price objective on shares of Guidewire Software from $175.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One research 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.62.

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.