Element Wealth LLC Purchases New Position in Guidewire Software, Inc. (NYSE:GWRE)

Element Wealth LLC acquired a new position in shares of Guidewire Software, Inc. (NYSE:GWRE) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,296 shares of the technology company’s stock, valued at approximately $237,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GWRE. Rothschild Investment LLC purchased a new position in Guidewire Software during the 2nd quarter worth approximately $31,000. ORG Partners LLC acquired a new stake in shares of Guidewire Software in the first quarter valued at approximately $29,000. DT Investment Partners LLC purchased a new position in shares of Guidewire Software during the second quarter worth approximately $41,000. Lynx Investment Advisory acquired a new position in shares of Guidewire Software in the 2nd quarter valued at $41,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Guidewire Software in the 2nd quarter valued at $55,000.

Insider Buying and Selling

In other news, insider John P. Mullen sold 1,350 shares of the business’s 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 sale, the insider now directly owns 137,821 shares of the company’s stock, valued at $20,539,463.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider John P. Mullen sold 1,350 shares of the company’s 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 sale, the insider now directly owns 137,821 shares of the company’s stock, valued at approximately $20,539,463.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Winston King sold 4,514 shares of the firm’s stock in a transaction dated 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 owns 48,237 shares in the company, valued at approximately $8,328,600.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,601 shares of company stock worth $9,050,448. 0.38% of the stock is owned by insiders.

Guidewire Software Stock Up 0.6 %

NYSE:GWRE opened at $188.05 on Friday. Guidewire Software, Inc. has a fifty-two week low of $85.15 and a fifty-two week high of $191.48. The stock has a market cap of $15.54 billion, a PE ratio of -1,446.54 and a beta of 1.19. The firm’s fifty day simple moving average is $169.78 and its 200-day simple moving average is $143.12.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on GWRE shares. Citigroup lifted their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Friday, October 11th. Wells Fargo & Company increased their price objective on Guidewire Software from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. BTIG Research boosted their target price on Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. One 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 stock presently has an average rating of “Moderate Buy” and an average target price of $178.62.

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.