Massachusetts Financial Services Co. MA Buys 679,558 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Massachusetts Financial Services Co. MA raised its stake in Guidewire Software, Inc. (NYSE:GWRE) by 24.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,426,907 shares of the technology company’s stock after purchasing an additional 679,558 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Guidewire Software were worth $626,918,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in shares of Guidewire Software by 18,001.5% during the third quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock valued at $472,220,000 after buying an additional 256,702 shares during the period. Whale Rock Capital Management LLC boosted its stake in shares of Guidewire Software by 23.4% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after acquiring an additional 240,622 shares during the last quarter. Teca Partners LP bought a new stake in shares of Guidewire Software during the 2nd quarter valued at $25,893,000. Linonia Partnership LP increased its holdings in Guidewire Software by 8.4% in the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after acquiring an additional 185,077 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new position in Guidewire Software in the second quarter worth about $22,318,000.

Wall Street Analyst Weigh In

GWRE has been the subject of a number of research analyst reports. BTIG Research raised their price target on Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Robert W. Baird boosted their target price on shares of Guidewire Software from $204.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday. Citigroup lifted their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, September 9th. JMP Securities upped their target price on shares of Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. lifted their price target 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.69.

Guidewire Software Stock Performance

Shares of Guidewire Software stock opened at $200.00 on Friday. Guidewire Software, Inc. has a one year low of $95.02 and a one year high of $201.60. The company has a market capitalization of $16.70 billion, a PE ratio of -2,499.64, a P/E/G ratio of 50.80 and a beta of 1.18. The company has a 50-day simple moving average of $185.74 and a two-hundred day simple moving average of $154.29.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The business had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. On average, equities analysts predict that Guidewire Software, Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Activity at Guidewire Software

In related news, President John P. Mullen sold 1,350 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total value of $266,922.00. Following the completion of the transaction, the president now directly owns 189,261 shares of the company’s stock, valued at approximately $37,420,684.92. This represents a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $4,024,928.64. Following the completion of the transaction, the chief executive officer now owns 287,662 shares in the company, valued at $49,523,889.92. The trade was a 7.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,601 shares of company stock valued at $9,116,179. 0.48% of the stock is owned by company insiders.

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.