Guidewire Software, Inc. (NYSE:GWRE) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC reduced its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 5.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,097,425 shares of the technology company’s stock after selling 58,911 shares during the period. Parnassus Investments LLC owned approximately 1.31% of Guidewire Software worth $200,763,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Rothschild Investment LLC acquired a new stake in Guidewire Software in the 2nd quarter worth about $31,000. Assetmark Inc. lifted its position in shares of Guidewire Software by 537.0% in the third quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after acquiring an additional 145 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Guidewire Software in the second quarter worth approximately $41,000. DT Investment Partners LLC purchased a new stake in shares of Guidewire Software during the second quarter worth approximately $41,000. Finally, Canada Pension Plan Investment Board acquired a new position in Guidewire Software in the 2nd quarter valued at $55,000.

Insider Buying and Selling at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 4,956 shares of Guidewire Software stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $172.70, for a total value of $855,901.20. Following the completion of the sale, the chief financial officer now owns 78,411 shares in the company, valued at approximately $13,541,579.70. This trade represents a 5.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President John P. Mullen sold 1,350 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $187.68, for a total value of $253,368.00. Following the completion of the sale, the president now directly owns 190,611 shares in the company, valued at approximately $35,773,872.48. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,251 shares of company stock valued at $8,849,257 over the last 90 days. 0.48% of the stock is owned by insiders.

Guidewire Software Stock Performance

GWRE stock opened at $194.00 on Tuesday. The firm has a market cap of $16.20 billion, a PE ratio of -2,424.70, a PEG ratio of 49.72 and a beta of 1.18. Guidewire Software, Inc. has a one year low of $95.02 and a one year high of $199.33. The firm’s 50 day moving average price is $183.97 and its 200-day moving average price is $153.09.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating 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%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. Equities research analysts predict that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on GWRE. Wells Fargo & Company lifted their target price on shares of Guidewire Software from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Citigroup boosted their price target on shares of Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a report on Friday, October 11th. Stifel Nicolaus boosted their target price on Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Robert W. Baird upped their price target on Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Guidewire Software currently has an average rating of “Moderate Buy” and a consensus target price of $182.92.

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.