Parnassus Investments LLC Cuts Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Parnassus Investments LLC decreased its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,097,425 shares of the technology company’s stock after selling 58,911 shares during the quarter. Parnassus Investments LLC’s holdings in Guidewire Software were worth $200,763,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

GWRE has been the topic of a number of analyst reports. JMP Securities increased their price target on Guidewire Software from $179.00 to $200.00 and gave the company a “market outperform” rating in a research report on Friday, October 11th. Stifel Nicolaus raised their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday. BTIG Research boosted their price target on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Citigroup increased their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Finally, Robert W. Baird boosted their target price on shares of Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.92.

Insider Buying and Selling at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 23,379 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 $4,024,928.64. Following the sale, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. The trade was a 7.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John P. Mullen sold 6,718 shares of the stock in a transaction 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 transaction, the insider now owns 160,099 shares of the company’s stock, valued at $27,562,643.84. The trade was a 4.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,251 shares of company stock valued at $8,849,257. 0.48% of the stock is owned by company insiders.

Guidewire Software Price Performance

Shares of Guidewire Software stock opened at $194.00 on Tuesday. The firm’s fifty day simple moving average is $183.97 and its 200-day simple moving average is $153.09. Guidewire Software, Inc. has a 12 month low of $95.02 and a 12 month high of $199.33. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of -2,424.70, a PEG ratio of 49.72 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last announced 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 business had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 earnings per share. Analysts anticipate that Guidewire Software, Inc. will post 0.53 earnings per share for the current year.

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.