Harvest Fund Management Co. Ltd Cuts Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Harvest Fund Management Co. Ltd lowered its stake in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 70.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 882 shares of the technology company's stock after selling 2,135 shares during the period. Harvest Fund Management Co. Ltd's holdings in Guidewire Software were worth $149,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in GWRE. Versant Capital Management Inc purchased a new position in Guidewire Software in the fourth quarter worth $25,000. Point72 Hong Kong Ltd purchased a new position in Guidewire Software during the 3rd quarter worth $33,000. Cullen Frost Bankers Inc. purchased a new position in Guidewire Software during the 4th quarter worth $34,000. Brooklyn Investment Group acquired a new position in Guidewire Software during the 3rd quarter valued at about $42,000. Finally, R Squared Ltd acquired a new stake in Guidewire Software in the fourth quarter worth about $47,000.

Guidewire Software Stock Performance

NYSE GWRE traded down $4.69 during mid-day trading on Wednesday, reaching $193.58. 642,376 shares of the stock were exchanged, compared to its average volume of 1,277,670. The company has a market capitalization of $16.24 billion, a P/E ratio of 537.72, a P/E/G ratio of 37.21 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. The business's 50 day moving average is $198.58 and its 200-day moving average is $188.33. Guidewire Software, Inc. has a 1 year low of $107.00 and a 1 year high of $219.59.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GWRE shares. DA Davidson reiterated a "buy" rating and issued a $210.00 target price on shares of Guidewire Software in a research note on Wednesday, December 4th. JMP Securities reissued a "market outperform" rating and set a $231.00 price objective on shares of Guidewire Software in a report on Friday, December 6th. JPMorgan Chase & Co. upped their target price on Guidewire Software from $228.00 to $231.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Guidewire Software in a research report on Friday, March 7th. Finally, The Goldman Sachs Group increased their price objective on Guidewire Software from $210.00 to $240.00 and gave the company a "buy" rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $206.08.

Insider Buying and Selling

In other news, CFO Jeffrey Elliott Cooper sold 300 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $174.78, for a total transaction of $52,434.00. Following the transaction, the chief financial officer now directly owns 73,494 shares in the company, valued at $12,845,281.32. The trade was a 0.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President John P. Mullen sold 6,116 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total value of $1,158,431.56. Following the completion of the sale, the president now directly owns 166,330 shares of the company's stock, valued at $31,504,565.30. This trade represents a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,180 shares of company stock worth $7,159,763. Insiders own 0.48% of the company's stock.

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.