D.A. Davidson & CO. Reduces Holdings in Guidewire Software, Inc. (NYSE:GWRE)

D.A. Davidson & CO. trimmed its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 70.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,211 shares of the technology company's stock after selling 2,929 shares during the quarter. D.A. Davidson & CO.'s holdings in Guidewire Software were worth $222,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Rothschild Investment LLC purchased a new position in Guidewire Software in the second quarter valued at about $31,000. 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 worth $31,000 after purchasing an additional 145 shares during the period. DT Investment Partners LLC purchased a new position in Guidewire Software in the second quarter valued at approximately $41,000. Canada Pension Plan Investment Board bought a new position in Guidewire Software during the second quarter valued at $55,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Guidewire Software by 21.1% in the third 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 during the last quarter.

Insider Activity at Guidewire Software

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 10,334 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 value of $1,779,101.44. Following the completion of the sale, the chief financial officer now owns 83,367 shares in the company, valued at approximately $14,352,462.72. The trade was 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 this hyperlink. Also, CEO Michael George Rosenbaum sold 23,379 shares of the firm'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 completion of the transaction, the chief executive officer now owns 287,662 shares in the company, valued at $49,523,889.92. This represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,601 shares of company stock valued at $9,116,179. Corporate insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GWRE shares. Oppenheimer lifted their price objective on shares of Guidewire Software from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Wells Fargo & Company lifted their price target on Guidewire Software from $205.00 to $215.00 and gave the company an "overweight" rating in a research report on Tuesday, November 19th. Stifel Nicolaus boosted their price objective on Guidewire Software from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. raised their target price on Guidewire Software from $170.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, October 3rd. Finally, BTIG Research upped their price target on Guidewire Software from $140.00 to $165.00 and gave the company a "buy" rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $189.31.

Guidewire Software Stock Performance

Shares of Guidewire Software stock traded down $0.55 on Thursday, hitting $206.57. 1,183,901 shares of the company traded hands, compared to its average volume of 704,482. Guidewire Software, Inc. has a 12-month low of $95.02 and a 12-month high of $209.15. The firm's 50-day simple moving average is $190.99 and its 200 day simple moving average is $159.86.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.08. The business had revenue of $291.50 million for the quarter, compared to the consensus estimate 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 last year, the business posted $0.30 earnings per share. On average, equities research analysts expect that Guidewire Software, Inc. will post 0.53 earnings per share for the current fiscal year.

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.