Kornitzer Capital Management Inc. KS Cuts Stake in Guidewire Software, Inc. (NYSE:GWRE)

Kornitzer Capital Management Inc. KS cut its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,974 shares of the technology company’s stock after selling 776 shares during the period. Kornitzer Capital Management Inc. KS owned 0.09% of Guidewire Software worth $12,808,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Guidewire Software by 24.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock valued at $626,918,000 after purchasing an additional 679,558 shares during the last quarter. Geode Capital Management LLC boosted its stake in Guidewire Software by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,330,074 shares of the technology company’s stock valued at $243,580,000 after buying an additional 6,223 shares during the last quarter. Whale Rock Capital Management LLC grew its holdings in Guidewire Software by 3.3% during the 3rd quarter. Whale Rock Capital Management LLC now owns 972,743 shares of the technology company’s stock valued at $177,954,000 after buying an additional 31,512 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Guidewire Software by 7.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 764,400 shares of the technology company’s stock worth $139,839,000 after acquiring an additional 53,967 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Guidewire Software by 18,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock worth $472,220,000 after acquiring an additional 256,702 shares in the last quarter.

Guidewire Software Stock Down 2.0 %

Shares of GWRE opened at $212.28 on Tuesday. The firm has a market capitalization of $17.73 billion, a P/E ratio of 589.67, a P/E/G ratio of 56.59 and a beta of 1.25. Guidewire Software, Inc. has a 12-month low of $107.00 and a 12-month high of $219.59. The firm has a fifty day moving average price of $187.28 and a 200-day moving average price of $179.76. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.53.

Insiders Place Their Bets

In other Guidewire Software news, President John P. Mullen sold 1,350 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $170.43, for a total value of $230,080.50. Following the completion of the sale, the president now directly owns 180,746 shares in the company, valued at approximately $30,804,540.78. This represents a 0.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael George Rosenbaum sold 1,400 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $214.68, for a total value of $300,552.00. Following the transaction, the chief executive officer now owns 274,730 shares in the company, valued at approximately $58,979,036.40. This represents a 0.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,506 shares of company stock worth $6,789,679 in the last three months. Corporate insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GWRE. JPMorgan Chase & Co. raised their target price on shares of Guidewire Software from $210.00 to $228.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Stifel Nicolaus upped their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Oppenheimer lifted their price target on Guidewire Software from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. JMP Securities restated a “market outperform” rating and set a $231.00 price objective on shares of Guidewire Software in a research report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $204.50.

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.