Kornitzer Capital Management Inc. KS Reduces Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Kornitzer Capital Management Inc. KS trimmed its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 86.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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’s holdings in Guidewire Software were worth $14,041,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GWRE. ORG Partners LLC purchased a new stake in Guidewire Software in the 1st quarter valued at about $29,000. Rothschild Investment LLC bought a new stake in shares of Guidewire Software during the second quarter valued at approximately $31,000. Lynx Investment Advisory purchased a new stake in shares of Guidewire Software in the second quarter valued at approximately $41,000. DT Investment Partners LLC bought a new position in Guidewire Software in the second quarter worth approximately $41,000. Finally, Canada Pension Plan Investment Board purchased a new position in Guidewire Software during the 2nd quarter worth $55,000.

Analyst Ratings Changes

GWRE has been the subject of several research reports. The Goldman Sachs Group upped their target price on Guidewire Software from $146.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Robert W. Baird upped their price objective on shares of Guidewire Software from $175.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Royal Bank of Canada increased their target price on shares of Guidewire Software from $180.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. DA Davidson restated a “buy” rating and issued a $168.00 price target on shares of Guidewire Software in a report on Friday, September 6th. Finally, Stifel Nicolaus increased their price objective on shares of Guidewire Software from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Guidewire Software currently has an average rating of “Moderate Buy” and a consensus price target of $178.62.

Insider Buying and Selling

In related news, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total transaction of $201,190.50. Following the sale, the insider now directly owns 137,821 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the sale, the chief executive officer now owns 287,662 shares in the company, valued at approximately $49,523,889.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,601 shares of company stock worth $9,050,448. 0.38% of the stock is owned by company insiders.

Guidewire Software Stock Up 0.6 %

Shares of Guidewire Software stock traded up $1.07 during trading on Thursday, reaching $192.97. The company’s stock had a trading volume of 14,118 shares, compared to its average volume of 691,464. The company has a 50-day simple moving average of $177.03 and a two-hundred day simple moving average of $148.18. Guidewire Software, Inc. has a 1-year low of $89.36 and a 1-year high of $193.44. The company 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 earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. Guidewire Software’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS. As a group, analysts anticipate that Guidewire Software, Inc. will post 0.53 earnings per share for the current year.

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.