Bamco Inc. NY Sells 117,162 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Bamco Inc. NY reduced its stake in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,008,129 shares of the technology company's stock after selling 117,162 shares during the quarter. Guidewire Software comprises approximately 2.9% of Bamco Inc. NY's holdings, making the stock its 7th largest position. Bamco Inc. NY owned 7.19% of Guidewire Software worth $1,099,127,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its position in Guidewire Software by 537.0% in the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company's stock valued at $31,000 after acquiring an additional 145 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Guidewire Software in the third quarter worth about $33,000. Rothschild Investment LLC acquired a new position in Guidewire Software during the 2nd quarter valued at about $31,000. Brooklyn Investment Group bought a new stake in shares of Guidewire Software during the 3rd quarter worth about $42,000. Finally, DT Investment Partners LLC bought a new position in shares of Guidewire Software in the second quarter valued at approximately $41,000.

Guidewire Software Price Performance

Shares of NYSE GWRE traded down $1.89 during mid-day trading on Monday, hitting $201.00. The company had a trading volume of 547,060 shares, compared to its average volume of 697,200. Guidewire Software, Inc. has a 12 month low of $95.02 and a 12 month high of $207.10. The firm has a market cap of $16.79 billion, a P/E ratio of -2,522.18, a PEG ratio of 52.48 and a beta of 1.18. The business's 50-day simple moving average is $189.29 and its 200-day simple moving average is $158.40.

Guidewire Software (NYSE:GWRE - Get Free Report) 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. 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 during the quarter, compared to the consensus estimate of $283.84 million. During the same quarter in the previous year, the company posted $0.30 EPS. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that Guidewire Software, Inc. will post 0.53 EPS for the current year.

Wall Street Analysts Forecast Growth

GWRE has been the topic of a number of research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $215.00 price objective on shares of Guidewire Software in a research note on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price objective on shares of Guidewire Software from $170.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, October 3rd. DA Davidson reaffirmed a "buy" rating and set a $168.00 target price on shares of Guidewire Software in a report on Friday, September 6th. Citigroup increased their target price on Guidewire Software from $123.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, September 9th. Finally, Stifel Nicolaus upped their target price on Guidewire Software from $200.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, Guidewire Software presently has a consensus rating of "Moderate Buy" and an average price target of $186.08.

Insider Buying and Selling

In related news, President John P. Mullen sold 1,350 shares of the business's stock in a transaction on Friday, October 18th. The shares were 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 approximately $35,773,872.48. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James Winston King sold 4,514 shares of Guidewire Software stock in a transaction that occurred on Thursday, September 19th. The shares were 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 approximately $8,328,600.42. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock valued at $9,116,179 over the last three months. Company insiders own 0.48% of the company's stock.

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.