Edgestream Partners L.P. Has $357,000 Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Edgestream Partners L.P. cut its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 91.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,590 shares of the technology company’s stock after selling 28,080 shares during the quarter. Edgestream Partners L.P.’s holdings in Guidewire Software were worth $357,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GWRE. Massachusetts Financial Services Co. MA boosted its stake in Guidewire Software by 23.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock valued at $378,832,000 after buying an additional 516,942 shares in the last quarter. Whale Rock Capital Management LLC boosted its stake in Guidewire Software by 23.4% in the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock valued at $148,323,000 after buying an additional 240,622 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Guidewire Software by 3,308.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 189,525 shares of the technology company’s stock valued at $20,666,000 after buying an additional 183,964 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Guidewire Software by 121.0% in the first quarter. Clearbridge Investments LLC now owns 295,595 shares of the technology company’s stock valued at $34,499,000 after buying an additional 161,856 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in Guidewire Software in the second quarter valued at about $22,318,000.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $174.54 on Monday. The company has a market cap of $14.43 billion, a P/E ratio of -1,342.62 and a beta of 1.18. The stock has a 50 day simple moving average of $151.15 and a two-hundred day simple moving average of $131.91. Guidewire Software, Inc. has a fifty-two week low of $85.15 and a fifty-two week high of $176.00.

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. The business had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative return on equity of 1.32% and a negative net margin of 0.62%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. On average, research analysts predict that Guidewire Software, Inc. will post 0.49 earnings per share for the current year.

Insiders Place Their Bets

In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $139.12, for a total value of $187,812.00. Following the completion of the sale, the insider now directly owns 139,171 shares in the company, valued at $19,361,469.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Guidewire Software news, insider John P. Mullen sold 1,350 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $139.12, for a total value of $187,812.00. Following the completion of the sale, the insider now owns 139,171 shares of the company’s stock, valued at $19,361,469.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John P. Mullen sold 6,718 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 160,099 shares of the company’s stock, valued at approximately $27,562,643.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,601 shares of company stock worth $8,984,892. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on GWRE shares. Bank of America raised their price objective on Guidewire Software from $80.00 to $95.00 and gave the company an “underperform” rating in a research note on Wednesday, June 5th. JMP Securities increased their target price on Guidewire Software from $141.00 to $179.00 and gave the company a “market outperform” rating in a research report on Friday, September 6th. Robert W. Baird increased their target price on Guidewire Software from $152.00 to $165.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Citigroup increased their target price on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Finally, BTIG Research increased their target price on Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Guidewire Software currently has an average rating of “Moderate Buy” and an average target price of $161.69.

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.