Bamco Inc. NY Trims Position in Guidewire Software, Inc. (NYSE:GWRE)

Bamco Inc. NY lowered its stake in Guidewire Software, Inc. (NYSE:GWRE) by 1.9% during the 3rd quarter, Holdings Channel reports. The firm owned 6,008,129 shares of the technology company’s stock after selling 117,162 shares during the quarter. Guidewire Software makes up about 2.9% of Bamco Inc. NY’s holdings, making the stock its 7th biggest position. Bamco Inc. NY owned about 0.07% of Guidewire Software worth $1,099,127,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in GWRE. Assetmark Inc. increased its holdings in shares of Guidewire Software by 537.0% in the third quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock worth $31,000 after purchasing an additional 145 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Guidewire Software in the third quarter worth $33,000. Rothschild Investment LLC bought a new position in shares of Guidewire Software in the second quarter worth about $31,000. Brooklyn Investment Group purchased a new position in Guidewire Software in the 3rd quarter worth about $42,000. Finally, DT Investment Partners LLC bought a new stake in Guidewire Software during the 2nd quarter valued at about $41,000.

Guidewire Software Stock Up 0.5 %

Shares of Guidewire Software stock opened at $202.89 on Monday. The company has a market cap of $16.95 billion, a P/E ratio of -2,535.81, a PEG ratio of 52.48 and a beta of 1.18. The firm’s 50 day moving average price is $189.29 and its 200-day moving average price is $158.16. Guidewire Software, Inc. has a 52-week low of $95.02 and a 52-week high of $207.10.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, beating 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 net margin of 0.62% and a negative return on equity of 1.29%. Guidewire Software’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. As a group, equities research analysts forecast that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GWRE shares. JMP Securities raised their target price on shares of Guidewire Software from $200.00 to $231.00 and gave the stock a “market outperform” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. lifted their target price on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Oppenheimer increased their price target on Guidewire Software from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Stifel Nicolaus lifted their price objective on Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Citigroup upped their price objective 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $186.08.

Insider Buying and Selling

In other news, CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software 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 completion of the sale, the chief executive officer now directly owns 287,662 shares in the company, valued at approximately $49,523,889.92. The trade was a 7.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John P. Mullen sold 6,718 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $1,156,570.88. Following the completion of the transaction, the insider now directly owns 160,099 shares in the company, valued at approximately $27,562,643.84. The trade was a 4.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,601 shares of company stock worth $9,116,179 in the last ninety days. 0.48% of the stock is owned by insiders.

Guidewire Software Company 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.