Envestnet Portfolio Solutions Inc. Grows Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Envestnet Portfolio Solutions Inc. grew its stake in Guidewire Software, Inc. (NYSE:GWRE) by 7.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,071 shares of the technology company’s stock after acquiring an additional 495 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Guidewire Software were worth $1,192,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new stake in Guidewire Software in the 3rd quarter valued at $26,501,000. Janus Henderson Group PLC grew its holdings in shares of Guidewire Software by 355.8% in the third quarter. Janus Henderson Group PLC now owns 162,447 shares of the technology company’s stock valued at $29,719,000 after purchasing an additional 126,806 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Guidewire Software by 192.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 134,266 shares of the technology company’s stock worth $22,635,000 after purchasing an additional 88,304 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Guidewire Software during the fourth quarter worth about $12,050,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Guidewire Software by 42.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 213,527 shares of the technology company’s stock valued at $35,996,000 after purchasing an additional 63,199 shares during the last quarter.

Insider Buying and Selling at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 1,400 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $174.78, for a total value of $244,692.00. Following the sale, the chief executive officer now directly owns 280,330 shares in the company, valued at approximately $48,996,077.40. This trade represents a 0.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey Elliott Cooper sold 1,956 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total transaction of $370,485.96. Following the transaction, the chief financial officer now owns 71,538 shares of the company’s stock, valued at approximately $13,550,012.58. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,780 shares of company stock valued at $6,886,553 in the last quarter. Corporate insiders own 0.48% of the company’s stock.

Guidewire Software Price Performance

Guidewire Software stock opened at $191.84 on Friday. The company’s 50 day moving average is $197.47 and its two-hundred day moving average is $187.41. The firm has a market cap of $16.09 billion, a PE ratio of 532.89, a price-to-earnings-growth ratio of 37.21 and a beta of 1.31. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53. Guidewire Software, Inc. has a 52-week low of $107.00 and a 52-week high of $219.59.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, March 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.44). The company had revenue of $289.48 million during the quarter, compared to analyst estimates of $285.74 million. Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. On average, research analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GWRE. Wells Fargo & Company raised their price target on shares of Guidewire Software from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. JPMorgan Chase & Co. increased their price target on Guidewire Software from $228.00 to $231.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. DA Davidson reaffirmed a “buy” rating and issued a $210.00 target price on shares of Guidewire Software in a research report on Wednesday, December 4th. Robert W. Baird lifted their price target on shares of Guidewire Software from $230.00 to $236.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $206.08.

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.