Guidewire Software, Inc. (NYSE:GWRE) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 39.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,859 shares of the technology company’s stock after selling 17,415 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Guidewire Software were worth $3,704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GWRE. Transcendent Capital Group LLC acquired a new stake in Guidewire Software during the fourth quarter worth $27,000. ORG Partners LLC acquired a new stake in Guidewire Software during the first quarter worth $29,000. Rothschild Investment LLC acquired a new stake in Guidewire Software during the second quarter worth $31,000. Lynx Investment Advisory acquired a new stake in shares of Guidewire Software in the second quarter valued at $41,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Guidewire Software in the second quarter valued at $41,000.

Guidewire Software Price Performance

Shares of NYSE GWRE opened at $173.03 on Wednesday. Guidewire Software, Inc. has a 1 year low of $85.15 and a 1 year high of $173.72. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of -1,326.31 and a beta of 1.18. The business has a 50-day moving average of $148.29 and a two-hundred day moving average of $130.30.

Guidewire Software (NYSE:GWRE) last posted 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. Guidewire Software had a negative return on equity of 1.32% and a negative net margin of 0.62%. The business had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. During the same period in the previous year, the business earned $0.30 EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts expect that Guidewire Software, Inc. will post 0.49 earnings per share for the current year.

Insider Activity

In related news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total value of $201,190.50. Following the transaction, the insider now owns 137,821 shares in the company, valued at approximately $20,539,463.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 1,765 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $134.20, for a total transaction of $236,863.00. Following the transaction, the chief financial officer now owns 61,714 shares in the company, valued at approximately $8,282,018.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total value of $201,190.50. Following the transaction, the insider now owns 137,821 shares in the company, valued at approximately $20,539,463.63. The disclosure for this sale can be found here. In the last three months, insiders sold 4,465 shares of company stock valued at $625,866. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GWRE. JPMorgan Chase & Co. lifted their price objective on Guidewire Software from $133.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, June 5th. Wells Fargo & Company lifted their price objective on Guidewire Software from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Oppenheimer lifted their price objective on Guidewire Software from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Royal Bank of Canada lifted their price objective on Guidewire Software from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $168.00 price objective on shares of Guidewire Software in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $161.69.

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.