Smith Group Asset Management LLC Invests $609,000 in Guidewire Software, Inc. (NYSE:GWRE)

Smith Group Asset Management LLC bought a new position in shares of Guidewire Software, Inc. (NYSE:GWRE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,330 shares of the technology company’s stock, valued at approximately $609,000.

A number of other institutional investors have also made changes to their positions in GWRE. ORG Partners LLC acquired a new position in shares of Guidewire Software during the first quarter worth $29,000. Rothschild Investment LLC acquired a new position in shares of Guidewire Software during the second quarter worth $31,000. Lynx Investment Advisory acquired a new position in shares of Guidewire Software during the second quarter worth $41,000. DT Investment Partners LLC acquired a new position in shares of Guidewire Software during the second quarter worth $41,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Guidewire Software in the second quarter worth $55,000.

Guidewire Software Stock Up 0.5 %

GWRE stock opened at $188.01 on Tuesday. Guidewire Software, Inc. has a fifty-two week low of $85.86 and a fifty-two week high of $191.48. The company has a market capitalization of $15.54 billion, a P/E ratio of -1,446.23, a PEG ratio of 48.42 and a beta of 1.19. The company has a 50-day simple moving average of $171.36 and a 200 day simple moving average of $144.57.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results 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 net margin of 0.62% and a negative return on equity of 1.29%. The company had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. During the same period in the prior year, the company earned $0.30 EPS. Guidewire Software’s revenue was up 8.0% on a year-over-year basis. Equities analysts anticipate that Guidewire Software, Inc. will post 0.53 EPS for the current year.

Insider Transactions at Guidewire Software

In other news, President John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $187.68, for a total value of $253,368.00. Following the transaction, the president now owns 190,611 shares in the company, valued at $35,773,872.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, President John P. Mullen sold 1,350 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $187.68, for a total transaction of $253,368.00. Following the completion of the sale, the president now directly owns 190,611 shares of the company’s stock, valued at $35,773,872.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Winston King sold 4,514 shares of Guidewire Software stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $172.66, for a total transaction of $779,387.24. Following the completion of the sale, the insider now owns 48,237 shares of the company’s stock, valued at $8,328,600.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,601 shares of company stock valued at $9,050,448 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GWRE. Robert W. Baird lifted their price target on shares of Guidewire Software from $175.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Oppenheimer restated an “outperform” rating and issued a $200.00 price target (up previously from $185.00) on shares of Guidewire Software in a research note on Friday, October 11th. Wells Fargo & Company lifted their price target 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. Royal Bank of Canada boosted their target price on shares of Guidewire Software from $180.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Guidewire Software currently has a consensus rating of “Moderate Buy” and an average target price of $178.62.

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.