Massachusetts Financial Services Co. MA Boosts Stake in Guidewire Software, Inc. (NYSE:GWRE)

Massachusetts Financial Services Co. MA raised its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 24.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,426,907 shares of the technology company’s stock after purchasing an additional 679,558 shares during the period. Massachusetts Financial Services Co. MA owned about 4.10% of Guidewire Software worth $626,918,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Makena Capital Management LLC lifted its holdings in Guidewire Software by 62.0% in the third quarter. Makena Capital Management LLC now owns 89,967 shares of the technology company’s stock worth $16,459,000 after purchasing an additional 34,422 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Guidewire Software by 116.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,333 shares of the technology company’s stock worth $20,550,000 after purchasing an additional 60,524 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of Guidewire Software by 2.0% during the third quarter. Segall Bryant & Hamill LLC now owns 126,133 shares of the technology company’s stock worth $23,075,000 after acquiring an additional 2,418 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Guidewire Software in the third quarter worth approximately $3,760,000. Finally, Pathstone Holdings LLC raised its holdings in shares of Guidewire Software by 7.6% during the 3rd quarter. Pathstone Holdings LLC now owns 26,184 shares of the technology company’s stock valued at $4,790,000 after purchasing an additional 1,849 shares in the last quarter.

Guidewire Software Stock Performance

Shares of GWRE stock opened at $200.00 on Friday. The company has a market capitalization of $16.70 billion, a price-to-earnings ratio of -2,499.64, a PEG ratio of 50.80 and a beta of 1.18. The company has a 50-day simple moving average of $185.74 and a 200 day simple moving average of $154.29. Guidewire Software, Inc. has a 52 week low of $95.02 and a 52 week high of $201.60.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. During the same quarter in the prior year, the business posted $0.30 earnings per share. Guidewire Software’s revenue was up 8.0% compared to the same quarter last year. Sell-side analysts forecast that Guidewire Software, Inc. will post 0.53 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. JMP Securities lifted their price target on Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. upped their price target on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. DA Davidson reiterated a “buy” rating and set a $168.00 target price on shares of Guidewire Software in a research report on Friday, September 6th. Wells Fargo & Company lifted their price target on shares of Guidewire Software from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Stifel Nicolaus lifted their price target on shares of Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.69.

Insider Buying and Selling at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 10,334 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 $1,779,101.44. Following the completion of the sale, the chief financial officer now directly owns 83,367 shares of the company’s stock, valued at approximately $14,352,462.72. This represents a 11.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President John P. Mullen sold 1,350 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $197.72, for a total transaction of $266,922.00. Following the completion of the sale, the president now owns 189,261 shares of the company’s stock, valued at approximately $37,420,684.92. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,601 shares of company stock worth $9,116,179. 0.48% of the stock is currently owned by insiders.

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.