Icon Wealth Advisors LLC Has $433,000 Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Icon Wealth Advisors LLC trimmed its stake in Guidewire Software, Inc. (NYSE:GWRE) by 31.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,368 shares of the technology company’s stock after selling 1,104 shares during the period. Icon Wealth Advisors LLC’s holdings in Guidewire Software were worth $433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in Guidewire Software during the second quarter worth about $31,000. Assetmark Inc. lifted its position in shares of Guidewire Software by 537.0% in the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after acquiring an additional 145 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Guidewire Software during the 2nd quarter worth approximately $41,000. DT Investment Partners LLC bought a new stake in shares of Guidewire Software during the second quarter valued at approximately $41,000. Finally, Brooklyn Investment Group bought a new stake in shares of Guidewire Software during the third quarter valued at approximately $42,000.

Insider Transactions at Guidewire Software

In related 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 completion of the sale, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. This trade represents a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John P. Mullen sold 6,718 shares of the business’s 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 sale, the insider now directly owns 160,099 shares of the company’s stock, valued at $27,562,643.84. This represents a 4.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,601 shares of company stock worth $9,116,179. Corporate insiders own 0.48% of the company’s stock.

Guidewire Software Stock Performance

Shares of GWRE opened at $202.87 on Friday. The stock has a fifty day moving average price of $188.72 and a two-hundred day moving average price of $157.29. The company has a market cap of $16.94 billion, a price-to-earnings ratio of -2,535.88, a PEG ratio of 52.22 and a beta of 1.18. Guidewire Software, Inc. has a 52-week low of $95.02 and a 52-week high of $207.10.

Guidewire Software (NYSE:GWRE) last released 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 business had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. During the same period in the previous year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, research analysts predict that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on GWRE shares. DA Davidson reaffirmed a “buy” rating and issued a $168.00 target price on shares of Guidewire Software in a research report on Friday, September 6th. JPMorgan Chase & Co. raised their price objective on shares of Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Oppenheimer upped their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. BTIG Research raised their price target on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Wells Fargo & Company lifted their price objective on Guidewire Software from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Guidewire Software has an average rating of “Moderate Buy” and a consensus target price of $186.08.

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.