The Manufacturers Life Insurance Company Purchases 579 Shares of Guidewire Software, Inc. (NYSE:GWRE)

The Manufacturers Life Insurance Company grew its position in Guidewire Software, Inc. (NYSE:GWRE) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,239 shares of the technology company’s stock after purchasing an additional 579 shares during the period. The Manufacturers Life Insurance Company’s holdings in Guidewire Software were worth $4,434,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers raised its stake in shares of Guidewire Software by 648.0% in the 1st quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company’s stock valued at $2,114,000 after purchasing an additional 15,695 shares during the period. Icon Wealth Advisors LLC raised its position in Guidewire Software by 72.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 5,984 shares of the technology company’s stock valued at $1,095,000 after buying an additional 2,512 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Guidewire Software by 8.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,215 shares of the technology company’s stock valued at $305,000 after acquiring an additional 165 shares in the last quarter. Cerity Partners LLC boosted its position in Guidewire Software by 326.8% during the 3rd quarter. Cerity Partners LLC now owns 21,799 shares of the technology company’s stock worth $3,988,000 after acquiring an additional 16,692 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Guidewire Software by 79.8% during the 2nd quarter. Xponance Inc. now owns 6,908 shares of the technology company’s stock worth $953,000 after acquiring an additional 3,066 shares in the last quarter.

Insider Buying and Selling at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 23,379 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 transaction of $4,024,928.64. Following the transaction, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. This trade represents a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President John P. Mullen sold 1,350 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total value of $266,922.00. Following the sale, the president now directly owns 189,261 shares in the company, valued at $37,420,684.92. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,601 shares of company stock valued at $9,116,179 in the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

Guidewire Software Price Performance

Shares of GWRE opened at $177.57 on Friday. The firm has a market capitalization of $14.83 billion, a PE ratio of -2,219.35, a PEG ratio of 52.81 and a beta of 1.18. The company’s 50-day moving average is $191.58 and its 200-day moving average is $160.55. Guidewire Software, Inc. has a fifty-two week low of $95.02 and a fifty-two week high of $209.15.

Guidewire Software (NYSE:GWRE) last posted its 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 company had revenue of $291.50 million for 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%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. Analysts predict that Guidewire Software, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GWRE. DA Davidson reissued a “buy” rating and issued a $210.00 price objective on shares of Guidewire Software in a research report on Wednesday. BTIG Research increased their price objective on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Stifel Nicolaus lifted their target price on Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Oppenheimer increased their price target on Guidewire Software from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Guidewire Software currently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

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.