Navellier & Associates Inc. Purchases New Position in Guidewire Software, Inc. (NYSE:GWRE)

Navellier & Associates Inc. acquired a new position in shares of Guidewire Software, Inc. (NYSE:GWRE) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 26,331 shares of the technology company’s stock, valued at approximately $4,817,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Assetmark Inc. raised its holdings in shares of Guidewire Software by 537.0% during the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after buying an additional 145 shares during the period. Rothschild Investment LLC acquired a new stake in Guidewire Software in the second quarter valued at approximately $31,000. DT Investment Partners LLC purchased a new stake in shares of Guidewire Software during the second quarter valued at approximately $41,000. Lynx Investment Advisory purchased a new stake in shares of Guidewire Software during the second quarter valued at approximately $41,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Guidewire Software by 21.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock worth $63,000 after purchasing an additional 60 shares in the last quarter.

Insiders Place Their Bets

In other news, insider James Winston King sold 4,514 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $172.66, for a total transaction of $779,387.24. Following the completion of the transaction, the insider now owns 48,237 shares of the company’s stock, valued at approximately $8,328,600.42. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John P. Mullen sold 6,718 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $1,156,570.88. Following the transaction, the insider now owns 160,099 shares of the company’s stock, valued at $27,562,643.84. This represents a 4.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock valued at $9,116,179 over the last quarter. Insiders own 0.48% of the company’s stock.

Guidewire Software Price Performance

GWRE stock opened at $196.45 on Thursday. The stock’s 50 day simple moving average is $185.13 and its 200 day simple moving average is $153.97. Guidewire Software, Inc. has a 12-month low of $95.02 and a 12-month high of $199.33.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The company had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. During the same period in the prior year, the company earned $0.30 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts forecast that Guidewire Software, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GWRE. Citigroup lifted their price target on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Wells Fargo & Company lifted their target price on Guidewire Software from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $215.00 price target on shares of Guidewire Software in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Finally, Robert W. Baird upped their target price on Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.69.

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.