Kornitzer Capital Management Inc. KS Sells 499,225 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Kornitzer Capital Management Inc. KS cut its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 86.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,750 shares of the technology company’s stock after selling 499,225 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.09% of Guidewire Software worth $14,041,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Guidewire Software by 23.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock worth $378,832,000 after buying an additional 516,942 shares during the last quarter. International Assets Investment Management LLC boosted its position in Guidewire Software by 18,001.5% in the third quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock worth $472,220,000 after purchasing an additional 256,702 shares during the last quarter. Whale Rock Capital Management LLC boosted its position in Guidewire Software by 23.4% in the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after purchasing an additional 240,622 shares during the last quarter. Teca Partners LP bought a new stake in shares of Guidewire Software during the 2nd quarter valued at about $25,893,000. Finally, Linonia Partnership LP increased its position in shares of Guidewire Software by 8.4% during the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after purchasing an additional 185,077 shares during the last quarter.

Guidewire Software Trading Up 0.6 %

GWRE traded up $1.07 on Thursday, hitting $192.97. 14,118 shares of the company’s stock traded hands, compared to its average volume of 691,464. The company’s 50 day simple moving average is $177.03 and its 200-day simple moving average is $148.18. Guidewire Software, Inc. has a one year low of $89.36 and a one year high of $193.44. The firm has a market cap of $16.12 billion, a price-to-earnings ratio of -2,397.95, a P/E/G ratio of 47.99 and a beta of 1.18.

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

Insiders Place Their Bets

In other news, insider James Winston King sold 4,514 shares of Guidewire Software stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $172.66, for a total value of $779,387.24. Following the sale, the insider now directly owns 48,237 shares of the company’s stock, valued at approximately $8,328,600.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the completion of the transaction, the insider now owns 137,821 shares in the company, valued at $20,539,463.63. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Winston King sold 4,514 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $172.66, for a total transaction of $779,387.24. Following the completion of the sale, the insider now owns 48,237 shares in the company, valued at approximately $8,328,600.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,601 shares of company stock worth $9,050,448 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. 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 reissued an “outperform” rating and set a $200.00 price objective (up previously from $185.00) on shares of Guidewire Software in a research report on Friday, October 11th. Wells Fargo & Company upped their price objective on Guidewire Software from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Royal Bank of Canada lifted their target price on Guidewire Software from $180.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Finally, BTIG Research upped their price target on Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $178.62.

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.