Point72 Hong Kong Ltd Makes New $33,000 Investment in Guidewire Software, Inc. (NYSE:GWRE)

Point72 Hong Kong Ltd purchased a new position in Guidewire Software, Inc. (NYSE:GWRE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 180 shares of the technology company’s stock, valued at approximately $33,000.

A number of other hedge funds also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of Guidewire Software by 24.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company’s stock worth $626,918,000 after acquiring an additional 679,558 shares during the last quarter. International Assets Investment Management LLC raised its position in Guidewire Software by 18,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock worth $472,220,000 after purchasing an additional 256,702 shares during the period. Teca Partners LP bought a new stake in Guidewire Software in the second quarter worth $25,893,000. Linonia Partnership LP grew its stake in shares of Guidewire Software by 8.4% during the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after buying an additional 185,077 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new position in shares of Guidewire Software in the second quarter worth about $22,318,000.

Insider Activity at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 10,334 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $1,779,101.44. Following the sale, the chief financial officer now owns 83,367 shares in the company, valued at approximately $14,352,462.72. This trade represents a 11.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President John P. Mullen sold 1,350 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $187.68, for a total value of $253,368.00. Following the completion of the transaction, the president now owns 190,611 shares in the company, valued at approximately $35,773,872.48. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,601 shares of company stock valued at $9,116,179. 0.48% of the stock is owned by insiders.

Guidewire Software Trading Up 1.6 %

Shares of GWRE stock opened at $204.07 on Wednesday. The company’s fifty day moving average price is $189.83 and its 200-day moving average price is $158.96. The stock has a market cap of $17.04 billion, a PE ratio of -2,550.49, a price-to-earnings-growth ratio of 51.96 and a beta of 1.18. Guidewire Software, Inc. has a 12 month low of $95.02 and a 12 month high of $207.10.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data 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 analysts’ expectations of $283.84 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts forecast that Guidewire Software, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GWRE. JMP Securities raised their price target on Guidewire Software from $200.00 to $231.00 and gave the stock a “market outperform” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. upped their price target 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 target on shares of Guidewire Software from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Citigroup upped their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, Robert W. Baird raised their target price on Guidewire Software from $204.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $186.08.

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.