SpiderRock Advisors LLC Takes $297,000 Position in Guidewire Software, Inc. (NYSE:GWRE)

SpiderRock Advisors LLC purchased a new position in Guidewire Software, Inc. (NYSE:GWRE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,619 shares of the technology company’s stock, valued at approximately $297,000.

Other hedge funds have also recently made changes to their positions in the company. Partners Capital Investment Group LLP raised its holdings in Guidewire Software by 2.9% in the 4th quarter. Partners Capital Investment Group LLP now owns 3,468 shares of the technology company’s stock worth $378,000 after purchasing an additional 99 shares in the last quarter. Greenwich Wealth Management LLC grew its holdings in shares of Guidewire Software by 0.3% during the 4th quarter. Greenwich Wealth Management LLC now owns 37,151 shares of the technology company’s stock worth $4,051,000 after acquiring an additional 101 shares during the period. Lindbrook Capital LLC raised its position in shares of Guidewire Software by 45.7% in the 4th quarter. Lindbrook Capital LLC now owns 421 shares of the technology company’s stock worth $46,000 after acquiring an additional 132 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Guidewire Software by 8.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,803 shares of the technology company’s stock valued at $197,000 after purchasing an additional 142 shares in the last quarter. Finally, CWM LLC raised its holdings in Guidewire Software by 18.4% in the fourth quarter. CWM LLC now owns 1,154 shares of the technology company’s stock worth $126,000 after purchasing an additional 179 shares in the last quarter.

Insider Transactions at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 1,765 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $134.20, for a total value of $236,863.00. Following the sale, the chief financial officer now directly owns 61,714 shares of the company’s stock, valued at approximately $8,282,018.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Jeffrey Elliott Cooper sold 1,765 shares of Guidewire Software stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $134.20, for a total transaction of $236,863.00. Following the completion of the sale, the chief financial officer now owns 61,714 shares in the company, valued at approximately $8,282,018.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $123.16, for a total transaction of $166,266.00. Following the transaction, the insider now directly owns 146,697 shares in the company, valued at $18,067,202.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,064 shares of company stock worth $1,710,361. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Guidewire Software from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. Bank of America raised their target price on shares of Guidewire Software from $80.00 to $95.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 5th. Wells Fargo & Company lifted their target price on shares of Guidewire Software from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. Robert W. Baird increased their target price on Guidewire Software from $140.00 to $152.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. Finally, Royal Bank of Canada boosted their target price on shares of Guidewire Software from $130.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and a consensus price target of $133.08.

Guidewire Software Trading Down 0.1 %

GWRE traded down $0.13 on Friday, hitting $138.99. The company had a trading volume of 106,268 shares, compared to its average volume of 627,761. The business’s fifty day simple moving average is $125.13 and its 200 day simple moving average is $117.37. Guidewire Software, Inc. has a 12-month low of $74.03 and a 12-month high of $140.55.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Tuesday, June 4th. The technology company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.14. The company had revenue of $240.68 million for the quarter, compared to analyst estimates of $231.46 million. Guidewire Software had a negative return on equity of 1.19% and a negative net margin of 1.11%. As a group, research analysts forecast that Guidewire Software, Inc. will post -0.31 EPS for the current year.

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.