Linonia Partnership LP Acquires 185,077 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Linonia Partnership LP lifted its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 8.4% in the second quarter, HoldingsChannel.com reports. The firm owned 2,395,601 shares of the technology company’s stock after acquiring an additional 185,077 shares during the quarter. Guidewire Software accounts for about 26.2% of Linonia Partnership LP’s investment portfolio, making the stock its largest holding. Linonia Partnership LP’s holdings in Guidewire Software were worth $330,329,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in Guidewire Software by 23.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock valued at $378,832,000 after purchasing an additional 516,942 shares during the last quarter. Whale Rock Capital Management LLC grew its stake in shares of 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. Teca Partners LP acquired a new stake in shares of Guidewire Software in the second quarter valued at $25,893,000. Public Employees Retirement Association of Colorado raised its holdings in shares of Guidewire Software by 3,308.1% in the 4th 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 during the period. Finally, Clearbridge Investments LLC lifted its stake in Guidewire Software by 121.0% during the 1st quarter. Clearbridge Investments LLC now owns 295,595 shares of the technology company’s stock worth $34,499,000 after acquiring an additional 161,856 shares in the last quarter.

Guidewire Software Stock Performance

Guidewire Software stock opened at $176.76 on Friday. The company has a fifty day simple moving average of $153.93 and a 200-day simple moving average of $133.34. The stock has a market cap of $14.61 billion, a P/E ratio of -1,359.69 and a beta of 1.18. Guidewire Software, Inc. has a 12-month low of $85.15 and a 12-month high of $179.13.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 1.29% and a negative net margin of 0.62%. Guidewire Software’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 EPS. As a group, sell-side analysts forecast that Guidewire Software, Inc. will post 0.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on GWRE shares. BTIG Research lifted 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. Oppenheimer lifted their price objective on shares of Guidewire Software from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, September 6th. JPMorgan Chase & Co. upped their target price on shares of Guidewire Software from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. DA Davidson reissued a “buy” rating and issued a $168.00 price target on shares of Guidewire Software in a research report on Friday, September 6th. Finally, Stifel Nicolaus boosted their price target on shares of Guidewire Software from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.62.

Insider Buying and Selling

In other news, insider James Winston King sold 4,514 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 48,237 shares in the company, valued at approximately $8,328,600.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Guidewire Software news, insider James Winston King sold 4,514 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $172.66, for a total transaction of $779,387.24. Following the transaction, the insider now owns 48,237 shares of the company’s stock, valued at $8,328,600.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael George Rosenbaum sold 23,379 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $4,024,928.64. Following the completion of the sale, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at $49,523,889.92. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock worth $8,984,892 over the last 90 days. 0.38% of the stock is owned by insiders.

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.