Makena Capital Management LLC Purchases 34,422 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Makena Capital Management LLC increased its position in Guidewire Software, Inc. (NYSE:GWRE) by 62.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,967 shares of the technology company’s stock after buying an additional 34,422 shares during the period. Guidewire Software comprises 4.0% of Makena Capital Management LLC’s portfolio, making the stock its 3rd largest holding. Makena Capital Management LLC owned approximately 0.11% of Guidewire Software worth $16,459,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GWRE. Assetmark Inc. increased its stake in shares of Guidewire Software by 537.0% during the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after acquiring an additional 145 shares during the last quarter. Rothschild Investment LLC acquired a new position in Guidewire Software during the second quarter worth approximately $31,000. DT Investment Partners LLC purchased a new position in Guidewire Software during the second quarter worth approximately $41,000. Lynx Investment Advisory purchased a new position in Guidewire Software during the second quarter worth approximately $41,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Guidewire Software by 21.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock valued at $63,000 after purchasing an additional 60 shares during the last quarter.

Insider Buying and Selling

In other Guidewire Software news, CEO Michael George Rosenbaum sold 23,379 shares of the company’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 sale, the chief executive officer now owns 287,662 shares in the company, valued at $49,523,889.92. This represents a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider James Winston King sold 4,514 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $172.66, for a total value of $779,387.24. Following the transaction, the insider now directly owns 48,237 shares in the company, valued at approximately $8,328,600.42. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,601 shares of company stock worth $9,116,179. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on GWRE shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Guidewire Software in a research report on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Friday, October 11th. Oppenheimer lifted their price objective on Guidewire Software from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday. 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 raised their price target on shares of Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday. One investment 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.69.

Guidewire Software Price Performance

NYSE:GWRE opened at $197.23 on Thursday. The firm has a 50-day moving average of $185.13 and a two-hundred day moving average of $153.97. Guidewire Software, Inc. has a 1-year low of $95.02 and a 1-year high of $199.33.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data 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. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The firm had revenue of $291.50 million during the quarter, compared to analyst estimates of $283.84 million. During the same quarter last year, the firm earned $0.30 EPS. Guidewire Software’s quarterly revenue was up 8.0% on a year-over-year basis. On average, research analysts expect that Guidewire Software, Inc. will post 0.53 EPS for the current year.

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.