Parnassus Investments LLC Trims Position in Guidewire Software, Inc. (NYSE:GWRE)

Parnassus Investments LLC lowered its stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,097,425 shares of the technology company's stock after selling 58,911 shares during the quarter. Parnassus Investments LLC owned approximately 1.31% of Guidewire Software worth $200,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in GWRE. Vanguard Group Inc. boosted its stake in Guidewire Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company's stock worth $949,430,000 after purchasing an additional 67,439 shares during the period. Acadian Asset Management LLC boosted its position in shares of Guidewire Software by 91.3% during the 1st quarter. Acadian Asset Management LLC now owns 7,144 shares of the technology company's stock valued at $833,000 after acquiring an additional 3,409 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Guidewire Software by 7.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,096 shares of the technology company's stock valued at $478,000 after acquiring an additional 271 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Guidewire Software by 121.0% during the 1st quarter. Clearbridge Investments LLC now owns 295,595 shares of the technology company's stock valued at $34,499,000 after acquiring an additional 161,856 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Guidewire Software by 2.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 27,453 shares of the technology company's stock valued at $3,208,000 after acquiring an additional 619 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GWRE shares. Robert W. Baird lifted their price target on Guidewire Software from $204.00 to $220.00 and gave the company an "outperform" rating in a research report on Tuesday. Stifel Nicolaus lifted their price target on Guidewire Software from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday. The Goldman Sachs Group lifted their price target on Guidewire Software from $146.00 to $170.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their target price on Guidewire Software from $170.00 to $210.00 and gave the stock an "overweight" rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their target price on Guidewire Software from $205.00 to $215.00 and gave the stock an "overweight" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $183.69.

Guidewire Software Price Performance

Guidewire Software stock traded up $2.31 during trading hours on Tuesday, reaching $196.35. The company had a trading volume of 832,742 shares, compared to its average volume of 700,912. The company has a 50-day moving average price of $183.97 and a 200 day moving average price of $153.09. The firm has a market cap of $16.40 billion, a price-to-earnings ratio of -2,455.69, a P/E/G ratio of 49.72 and a beta of 1.18. Guidewire Software, Inc. has a 12-month low of $95.02 and a 12-month high of $199.33.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its earnings results 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. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The firm had revenue of $291.50 million for the quarter, compared to analysts' expectations of $283.84 million. During the same period in the previous year, the firm earned $0.30 earnings per share. The business's revenue was up 8.0% compared to the same quarter last year. As a group, research analysts expect that Guidewire Software, Inc. will post 0.53 earnings per share for the current year.

Insider Activity

In related news, President John P. Mullen sold 1,350 shares of the company'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 sale, the president now directly owns 190,611 shares of the company's stock, valued at $35,773,872.48. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James Winston King sold 4,514 shares of the business's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $172.66, for a total value of $779,387.24. Following the completion of the sale, the insider now directly owns 48,237 shares in the company, valued at $8,328,600.42. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,251 shares of company stock valued at $8,849,257. Company 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.