Highland Capital Management LLC Takes $1.55 Million Position in Guidewire Software, Inc. (NYSE:GWRE)

Highland Capital Management LLC purchased a new position in shares of Guidewire Software, Inc. (NYSE:GWRE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,485 shares of the technology company’s stock, valued at approximately $1,552,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. ORG Partners LLC acquired a new stake in Guidewire Software during the first quarter valued at $29,000. Rothschild Investment LLC acquired a new stake in Guidewire Software in the 2nd quarter valued at about $31,000. Lynx Investment Advisory purchased a new position in Guidewire Software during the second quarter worth approximately $41,000. DT Investment Partners LLC acquired a new position in shares of Guidewire Software during the 2nd quarter valued at about $41,000. Finally, Canada Pension Plan Investment Board acquired a new position in Guidewire Software in the 2nd quarter valued at about $55,000.

Guidewire Software Stock Performance

Shares of GWRE opened at $187.11 on Friday. Guidewire Software, Inc. has a 1 year low of $85.15 and a 1 year high of $191.48. The stock has a 50-day simple moving average of $170.57 and a 200-day simple moving average of $143.82. The stock has a market capitalization of $15.54 billion, a PE ratio of -2,338.58, a PEG ratio of 48.42 and a beta of 1.19.

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, topping the consensus estimate of $0.54 by $0.08. The business 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 period in the prior year, the firm posted $0.30 EPS. Analysts predict that Guidewire Software, Inc. will post 0.53 EPS for the current year.

Insider Activity at Guidewire Software

In related news, President John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $187.68, for a total value 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 $35,773,872.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, President John P. Mullen sold 1,350 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $187.68, for a total transaction of $253,368.00. Following the transaction, the president now owns 190,611 shares of the company’s stock, valued at $35,773,872.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James Winston King sold 4,514 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock valued at $9,050,448 in the last ninety days. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JMP Securities raised their target price on Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Friday, October 11th. Royal Bank of Canada raised their price objective on Guidewire Software from $180.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. BTIG Research lifted their price target on shares of Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Oppenheimer reaffirmed 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. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.62.

Guidewire Software Company 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.