Oppenheimer Asset Management Inc. Decreases Stake in Guidewire Software, Inc. (NYSE:GWRE)

Oppenheimer Asset Management Inc. lowered its position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 10.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,293 shares of the technology company's stock after selling 9,276 shares during the period. Oppenheimer Asset Management Inc. owned about 0.10% of Guidewire Software worth $14,689,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Assetmark Inc. boosted its stake in shares of Guidewire Software by 537.0% in the third quarter. Assetmark Inc. now owns 172 shares of the technology company's stock worth $31,000 after acquiring an additional 145 shares during the period. Rothschild Investment LLC bought a new position in Guidewire Software during the 2nd quarter valued at about $31,000. DT Investment Partners LLC purchased a new stake in shares of Guidewire Software in the second quarter worth approximately $41,000. Lynx Investment Advisory purchased a new stake in Guidewire Software in the second quarter worth $41,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Guidewire Software by 21.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company's stock worth $63,000 after buying an additional 60 shares during the period.

Guidewire Software Trading Down 0.6 %

Guidewire Software stock traded down $1.17 during mid-day trading on Thursday, hitting $195.26. The company's stock had a trading volume of 614,889 shares, compared to its average volume of 697,183. The firm has a market capitalization of $16.31 billion, a PE ratio of -2,440.44, a price-to-earnings-growth ratio of 50.59 and a beta of 1.18. Guidewire Software, Inc. has a 1 year low of $94.97 and a 1 year high of $199.33. The stock's fifty day moving average is $182.84 and its two-hundred day moving average is $151.38.

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

Insider Transactions at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 23,379 shares of the company's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $4,024,928.64. Following the completion of the sale, the chief executive officer now directly owns 287,662 shares of the company's stock, valued at $49,523,889.92. This represents a 7.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President John P. Mullen sold 1,350 shares of Guidewire Software stock in a transaction on Friday, October 18th. The shares were sold at an average price of $187.68, for a total transaction of $253,368.00. Following the completion of the transaction, the president now directly owns 190,611 shares in the company, valued at $35,773,872.48. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,601 shares of company stock valued at $9,050,448. 0.48% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on GWRE. DA Davidson reissued a "buy" rating and issued a $168.00 price target on shares of Guidewire Software in a research report on Friday, September 6th. BTIG Research lifted their target price on Guidewire Software from $140.00 to $165.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Stifel Nicolaus upped their price target on shares of Guidewire Software from $175.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Citigroup lifted their target price on shares of Guidewire Software from $123.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, September 9th. Finally, Wells Fargo & Company lifted their price target on Guidewire Software from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. 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. According to data from MarketBeat.com, Guidewire Software currently has a consensus rating of "Moderate Buy" and a consensus target price 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.