Magnetar Financial LLC Acquires New Position in Guidewire Software, Inc. (NYSE:GWRE)

Magnetar Financial LLC bought a new position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,333 shares of the technology company's stock, valued at approximately $899,000.

Several other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in shares of Guidewire Software by 10.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 595 shares of the technology company's stock worth $100,000 after acquiring an additional 56 shares in the last quarter. Hanseatic Management Services Inc. raised its stake in shares of Guidewire Software by 12.1% during the 4th quarter. Hanseatic Management Services Inc. now owns 539 shares of the technology company's stock valued at $91,000 after purchasing an additional 58 shares during the period. Norden Group LLC lifted its holdings in Guidewire Software by 5.2% during the 4th quarter. Norden Group LLC now owns 1,232 shares of the technology company's stock worth $208,000 after purchasing an additional 61 shares in the last quarter. Argonautica Private Wealth Management Inc. grew its holdings in Guidewire Software by 1.9% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 4,040 shares of the technology company's stock valued at $681,000 after buying an additional 75 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Guidewire Software by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,451 shares of the technology company's stock valued at $448,000 after buying an additional 87 shares during the period.

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Wall Street Analyst Weigh In

GWRE has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Guidewire Software from $228.00 to $231.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Robert W. Baird increased their price objective on Guidewire Software from $230.00 to $236.00 and gave the stock an "outperform" rating in a research report on Friday, March 7th. JMP Securities reissued a "market outperform" rating and set a $231.00 price objective on shares of Guidewire Software in a research note on Friday, December 6th. Royal Bank of Canada upped their target price on Guidewire Software from $215.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Finally, The Goldman Sachs Group boosted their price target on shares of Guidewire Software from $210.00 to $240.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $206.08.

Insider Activity

In related news, CFO Jeffrey Elliott Cooper sold 300 shares of Guidewire Software 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President John P. Mullen sold 6,116 shares of the 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 transaction, the president now owns 166,330 shares of the company's stock, valued at approximately $31,504,565.30. This trade represents a 3.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,180 shares of company stock valued at $7,159,763. Corporate insiders own 0.48% of the company's stock.

Guidewire Software Trading Down 2.4 %

NYSE GWRE traded down $4.69 on Wednesday, hitting $193.58. The company's stock had a trading volume of 642,376 shares, compared to its average volume of 866,052. The firm has a market cap of $16.24 billion, a P/E ratio of 537.72, a PEG ratio of 37.21 and a beta of 1.31. Guidewire Software, Inc. has a 52-week low of $107.00 and a 52-week high of $219.59. The company's 50-day simple moving average is $198.58 and its 200 day simple moving average is $188.33. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.53.

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

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.