Landscape Capital Management L.L.C. decreased its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE – Free Report) by 55.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,136 shares of the technology company’s stock after selling 7,649 shares during the period. Landscape Capital Management L.L.C.’s holdings in Guidewire Software were worth $1,123,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its position in Guidewire Software by 116.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,333 shares of the technology company’s stock worth $20,550,000 after purchasing an additional 60,524 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in shares of Guidewire Software by 2.0% during the third quarter. Segall Bryant & Hamill LLC now owns 126,133 shares of the technology company’s stock worth $23,075,000 after buying an additional 2,418 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Guidewire Software during the third quarter valued at $3,760,000. Pathstone Holdings LLC increased its position in shares of Guidewire Software by 7.6% in the 3rd quarter. Pathstone Holdings LLC now owns 26,184 shares of the technology company’s stock valued at $4,790,000 after acquiring an additional 1,849 shares during the period. Finally, Quest Partners LLC increased its position in shares of Guidewire Software by 323,860.0% in the 3rd quarter. Quest Partners LLC now owns 16,198 shares of the technology company’s stock valued at $2,963,000 after acquiring an additional 16,193 shares during the period.
Insider Activity
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 stock was sold at an average price of $172.16, for a total value of $4,024,928.64. Following the transaction, the chief executive officer now owns 287,662 shares in the company, valued at $49,523,889.92. This trade represents a 7.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John P. Mullen sold 6,718 shares of Guidewire Software stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 in the company, valued at $27,562,643.84. This represents a 4.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock worth $9,116,179 in the last quarter. Corporate insiders own 0.48% of the company’s stock.
Guidewire Software Stock Performance
Guidewire Software (NYSE:GWRE – Get Free Report) last issued 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 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%. Guidewire Software’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 posted $0.30 earnings per share. Equities research analysts forecast that Guidewire Software, Inc. will post 0.53 EPS for the current year.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. JMP Securities boosted their price target on Guidewire Software from $179.00 to $200.00 and gave the company a “market outperform” rating in a research note on Friday, October 11th. Robert W. Baird upped their target price on Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday. BTIG Research raised their price target on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Oppenheimer upped their price objective on shares of Guidewire Software from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.69.
Get Our Latest Analysis on GWRE
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.
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