Harvest Fund Management Co. Ltd Grows Position in Guidewire Software, Inc. (NYSE:GWRE)

Harvest Fund Management Co. Ltd boosted its stake in Guidewire Software, Inc. (NYSE:GWRE) by 31.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,017 shares of the technology company’s stock after acquiring an additional 714 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Guidewire Software were worth $552,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GWRE. Assetmark Inc. raised its holdings in shares of Guidewire Software by 537.0% in the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after buying an additional 145 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Guidewire Software during the second quarter worth about $31,000. DT Investment Partners LLC acquired a new position in shares of Guidewire Software in the second quarter valued at approximately $41,000. Lynx Investment Advisory purchased a new stake in Guidewire Software during the 2nd quarter worth approximately $41,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Guidewire Software by 21.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock worth $63,000 after buying an additional 60 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GWRE shares. Robert W. Baird lifted their target price on Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. raised their target price on shares of Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Wells Fargo & Company raised their price objective on shares of Guidewire Software from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $215.00 target price on shares of Guidewire Software in a report on Tuesday, November 19th. Finally, BTIG Research increased their price objective on Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a report on Friday, August 30th. One equities research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.08.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $204.46 on Wednesday. Guidewire Software, Inc. has a one year low of $95.02 and a one year high of $207.10. The company has a 50 day moving average price of $186.96 and a 200 day moving average price of $156.04. The firm has a market capitalization of $17.08 billion, a price-to-earnings ratio of -2,555.75, a price-to-earnings-growth ratio of 52.47 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last posted its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) 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 business 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 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities analysts forecast that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael George Rosenbaum sold 23,379 shares of the business’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 of the company’s stock, valued at $49,523,889.92. The trade was a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Winston King sold 4,514 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 48,237 shares in the company, valued at $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.

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.