RiverPark Advisors LLC Acquires 909 Shares of Guidewire Software, Inc. (NYSE:GWRE)

RiverPark Advisors LLC raised its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 362.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,160 shares of the technology company’s stock after acquiring an additional 909 shares during the quarter. RiverPark Advisors LLC’s holdings in Guidewire Software were worth $135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GWRE. Vanguard Group Inc. increased its holdings in shares of Guidewire Software by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 8,067,513 shares of the technology company’s stock worth $879,682,000 after purchasing an additional 22,049 shares during the period. Wasatch Advisors LP increased its holdings in shares of Guidewire Software by 4.2% in the first quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock worth $335,513,000 after purchasing an additional 115,600 shares during the period. Linonia Partnership LP bought a new position in shares of Guidewire Software in the fourth quarter worth $189,965,000. Massachusetts Financial Services Co. MA bought a new position in shares of Guidewire Software in the fourth quarter worth $105,311,000. Finally, Norges Bank bought a new position in shares of Guidewire Software in the fourth quarter worth $97,829,000.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GWRE shares. Robert W. Baird upped their target price on shares of Guidewire Software from $140.00 to $152.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. Oppenheimer upped their price target on shares of Guidewire Software from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, June 5th. BTIG Research upped their price target on shares of Guidewire Software from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. Citigroup upped their price target on shares of Guidewire Software from $109.00 to $122.00 and gave the company a “neutral” rating in a research report on Tuesday, June 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Guidewire Software from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. 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 company’s stock. According to data from MarketBeat, Guidewire Software currently has an average rating of “Moderate Buy” and a consensus price target of $133.08.

Insider Activity

In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction on Monday, May 20th. The shares were sold at an average price of $123.16, for a total value of $166,266.00. Following the sale, the insider now directly owns 146,697 shares in the company, valued at approximately $18,067,202.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $123.16, for a total value of $166,266.00. Following the sale, the insider now directly owns 146,697 shares in the company, valued at approximately $18,067,202.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael George Rosenbaum sold 5,582 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $134.54, for a total transaction of $751,002.28. Following the completion of the sale, the chief executive officer now owns 239,793 shares in the company, valued at $32,261,750.22. The disclosure for this sale can be found here. Insiders have sold 13,064 shares of company stock worth $1,710,361 in the last three months. Company insiders own 0.38% of the company’s stock.

Guidewire Software Stock Performance

Shares of Guidewire Software stock traded down $1.07 on Tuesday, hitting $138.84. 603,929 shares of the company’s stock were exchanged, compared to its average volume of 627,894. The company has a 50-day simple moving average of $126.76 and a 200-day simple moving average of $118.24. The stock has a market capitalization of $11.48 billion, a PE ratio of -1,067.92 and a beta of 1.19. Guidewire Software, Inc. has a 1 year low of $75.84 and a 1 year high of $140.55.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Tuesday, June 4th. The technology company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.14. The business had revenue of $240.68 million for the quarter, compared to analysts’ expectations of $231.46 million. Guidewire Software had a negative net margin of 1.11% and a negative return on equity of 1.19%. On average, analysts expect that Guidewire Software, Inc. will post -0.31 EPS for the current fiscal 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.