Cetera Investment Advisers Raises Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Cetera Investment Advisers grew its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 2.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 18,489 shares of the technology company’s stock after acquiring an additional 372 shares during the period. Cetera Investment Advisers’ holdings in Guidewire Software were worth $2,549,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Guidewire Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock worth $949,430,000 after buying an additional 67,439 shares in the last quarter. Wasatch Advisors LP boosted its stake in shares of Guidewire Software by 4.2% during the 1st quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock worth $335,513,000 after purchasing an additional 115,600 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Guidewire Software by 23.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock worth $378,832,000 after purchasing an additional 516,942 shares during the period. Linonia Partnership LP boosted its stake in shares of Guidewire Software by 8.4% during the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after purchasing an additional 185,077 shares during the period. Finally, Whale Rock Capital Management LLC boosted its stake in shares of Guidewire Software by 23.4% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after purchasing an additional 240,622 shares during the period.

Guidewire Software Stock Performance

NYSE:GWRE opened at $185.74 on Friday. Guidewire Software, Inc. has a one year low of $85.15 and a one year high of $187.85. The firm has a market cap of $15.35 billion, a P/E ratio of -1,428.77 and a beta of 1.19. The firm has a 50-day simple moving average of $161.87 and a 200-day simple moving average of $138.58.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. The business had revenue of $291.50 million during the quarter, compared to analyst estimates of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS. On average, research analysts predict that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the completion of the transaction, the insider now owns 137,821 shares in the company, valued at $20,539,463.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the completion of the transaction, the insider now owns 137,821 shares in the company, valued at $20,539,463.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael George Rosenbaum sold 23,379 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the transaction, the chief executive officer now owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock worth $8,984,892 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GWRE has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of Guidewire Software from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday. JMP Securities lifted their price target on shares of Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Friday. Robert W. Baird lifted their price target on shares of Guidewire Software from $175.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday. Citigroup lifted their price target 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. Finally, BTIG Research boosted their price objective on shares of Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.62.

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.