Blueshift Asset Management LLC Invests $288,000 in Guidewire Software, Inc. (NYSE:GWRE)

Blueshift Asset Management LLC bought a new position in Guidewire Software, Inc. (NYSE:GWRE) during the third quarter, Holdings Channel.com reports. The fund bought 1,573 shares of the technology company’s stock, valued at approximately $288,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of Guidewire Software in the third quarter valued at $42,000. The Manufacturers Life Insurance Company grew its holdings in shares of Guidewire Software by 2.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 24,239 shares of the technology company’s stock worth $4,434,000 after acquiring an additional 579 shares during the last quarter. Bank of Montreal Can raised its position in shares of Guidewire Software by 48.7% during the third quarter. Bank of Montreal Can now owns 45,703 shares of the technology company’s stock worth $8,134,000 after purchasing an additional 14,970 shares during the period. DRW Securities LLC purchased a new stake in shares of Guidewire Software during the third quarter valued at $892,000. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Guidewire Software by 31.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,017 shares of the technology company’s stock valued at $552,000 after purchasing an additional 714 shares during the period.

Insider Buying and Selling

In other news, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction dated Tuesday, September 17th. The stock was 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 in the company, valued at approximately $49,523,889.92. The trade was a 7.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President John P. Mullen sold 1,350 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $197.72, for a total value of $266,922.00. Following the sale, the president now owns 189,261 shares of the company’s stock, valued at approximately $37,420,684.92. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,601 shares of company stock worth $9,116,179. 0.48% of the stock is currently owned by insiders.

Guidewire Software Trading Down 1.3 %

Guidewire Software stock opened at $201.88 on Friday. The company has a market capitalization of $16.86 billion, a P/E ratio of -2,523.18, a P/E/G ratio of 52.54 and a beta of 1.18. Guidewire Software, Inc. has a 1-year low of $95.02 and a 1-year high of $207.10. The firm’s fifty day simple moving average is $188.18 and its 200-day simple moving average is $156.97.

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

Analyst Ratings Changes

Several research firms have recently weighed in on GWRE. Stifel Nicolaus lifted their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. BTIG Research raised their target price on Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Robert W. Baird upped their price target on Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their target price on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Finally, DA Davidson restated a “buy” rating and set a $168.00 price target on shares of Guidewire Software in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $186.08.

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.