Dark Forest Capital Management LP Acquires New Position in Guidewire Software, Inc. (NYSE:GWRE)

Dark Forest Capital Management LP acquired a new stake in Guidewire Software, Inc. (NYSE:GWRE) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 2,763 shares of the technology company’s stock, valued at approximately $381,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rothschild Investment LLC purchased a new position in Guidewire Software during the 2nd quarter valued at about $31,000. ORG Partners LLC purchased a new position in Guidewire Software during the 1st quarter valued at about $29,000. Transcendent Capital Group LLC purchased a new position in Guidewire Software during the 4th quarter valued at about $27,000. DT Investment Partners LLC purchased a new position in Guidewire Software during the 2nd quarter valued at about $41,000. Finally, Lynx Investment Advisory purchased a new position in Guidewire Software during the 2nd quarter valued at about $41,000.

Insider Buying and Selling at Guidewire Software

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 shares were sold at an average price of $139.12, for a total transaction of $187,812.00. Following the transaction, the insider now directly owns 139,171 shares of the company’s stock, valued at $19,361,469.52. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $139.12, for a total transaction of $187,812.00. Following the transaction, the insider now directly owns 139,171 shares of the company’s stock, valued at $19,361,469.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John P. Mullen sold 6,718 shares of the business’s stock in a transaction on 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 directly owns 160,099 shares in the company, valued at $27,562,643.84. The disclosure for this sale can be found here. Insiders have sold a total of 52,601 shares of company stock valued at $8,984,892 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Guidewire Software Stock Performance

Guidewire Software stock opened at $177.97 on Friday. Guidewire Software, Inc. has a 1 year low of $85.15 and a 1 year high of $179.13. The firm has a 50 day moving average price of $154.66 and a 200 day moving average price of $133.91. The company has a market cap of $14.71 billion, a price-to-earnings ratio of -1,369.00 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $291.50 million for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $0.30 earnings per share. Sell-side analysts predict that Guidewire Software, Inc. will post 0.49 EPS for the current year.

Wall Street Analysts Forecast Growth

GWRE has been the subject of several recent research reports. The Goldman Sachs Group raised their target price on shares of Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of Guidewire Software from $133.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a report on Friday, September 6th. JMP Securities lifted their price target on shares of Guidewire Software from $141.00 to $179.00 and gave the stock a “market outperform” rating in a report on Friday, September 6th. Finally, Oppenheimer lifted their price target on shares of Guidewire Software from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. One equities 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $163.62.

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.