New York State Common Retirement Fund Sells 193,293 Shares of Guidewire Software, Inc. (NYSE:GWRE)

New York State Common Retirement Fund reduced its holdings in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 26.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 532,981 shares of the technology company's stock after selling 193,293 shares during the quarter. New York State Common Retirement Fund owned approximately 0.64% of Guidewire Software worth $97,504,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GWRE. SG Americas Securities LLC bought a new stake in shares of Guidewire Software in the 1st quarter valued at $417,000. Cetera Investment Advisers boosted its stake in shares of Guidewire Software by 648.0% in the 1st quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company's stock valued at $2,114,000 after purchasing an additional 15,695 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Guidewire Software by 13.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 111,489 shares of the technology company's stock valued at $13,012,000 after purchasing an additional 13,163 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Guidewire Software by 8.1% in the 1st quarter. Sei Investments Co. now owns 400,284 shares of the technology company's stock valued at $46,717,000 after purchasing an additional 30,161 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Guidewire Software by 91.3% in the 1st quarter. Acadian Asset Management LLC now owns 7,144 shares of the technology company's stock valued at $833,000 after purchasing an additional 3,409 shares during the last quarter.

Insider Activity

In other news, insider John P. Mullen sold 1,350 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total value of $201,190.50. Following the completion of the sale, the insider now owns 137,821 shares in the company, valued at $20,539,463.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Michael George Rosenbaum sold 23,379 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the sale, the chief executive officer now owns 287,662 shares in the company, valued at approximately $49,523,889.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John P. Mullen sold 1,350 shares of the firm's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total transaction of $201,190.50. Following the sale, the insider now owns 137,821 shares of the company's stock, valued at $20,539,463.63. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock worth $9,050,448 over the last quarter. Insiders own 0.38% of the company's stock.

Guidewire Software Price Performance

Shares of GWRE stock traded down $0.22 on Friday, hitting $186.04. The stock had a trading volume of 649,134 shares, compared to its average volume of 696,319. The business has a 50 day moving average of $174.61 and a 200 day moving average of $146.24. The stock has a market cap of $15.54 billion, a price-to-earnings ratio of -2,325.21, a price-to-earnings-growth ratio of 49.03 and a beta of 1.19. Guidewire Software, Inc. has a 12-month low of $89.08 and a 12-month high of $191.48.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.29%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. As a group, research analysts expect that Guidewire Software, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GWRE. BTIG Research increased their target price on shares of Guidewire Software from $140.00 to $165.00 and gave the stock a "buy" rating in a research note on Friday, August 30th. JPMorgan Chase & Co. increased their target price 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. The Goldman Sachs Group increased their target price on shares of Guidewire Software from $146.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, July 22nd. Oppenheimer reissued an "outperform" rating and set a $200.00 target price (up from $185.00) on shares of Guidewire Software in a research note on Friday, October 11th. Finally, Stifel Nicolaus increased their target price on shares of Guidewire Software from $175.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $178.62.

About Guidewire Software

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.