Parnassus Investments LLC Decreases Stake in Guidewire Software, Inc. (NYSE:GWRE)

Parnassus Investments LLC lowered its position in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 54.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 499,611 shares of the technology company's stock after selling 597,814 shares during the quarter. Parnassus Investments LLC owned approximately 0.60% of Guidewire Software worth $84,224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GWRE. Versant Capital Management Inc purchased a new stake in shares of Guidewire Software during the fourth quarter worth approximately $25,000. Assetmark Inc. boosted its stake in Guidewire Software by 537.0% during the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company's stock worth $31,000 after purchasing an additional 145 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Guidewire Software during the third quarter worth $33,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Guidewire Software in the fourth quarter valued at about $34,000. Finally, Brooklyn Investment Group purchased a new position in shares of Guidewire Software in the third quarter worth about $42,000.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. DA Davidson reaffirmed a "buy" rating and set a $210.00 price objective on shares of Guidewire Software in a research note on Wednesday, December 4th. Royal Bank of Canada increased their price target on Guidewire Software from $215.00 to $230.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Stifel Nicolaus boosted their price objective on Guidewire Software from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Robert W. Baird raised their target price on Guidewire Software from $230.00 to $236.00 and gave the stock an "outperform" rating in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. lifted their price target on Guidewire Software from $228.00 to $231.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $206.08.

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Guidewire Software Trading Down 0.1 %

NYSE GWRE traded down $0.21 during trading hours on Tuesday, reaching $191.30. The company had a trading volume of 1,171,782 shares, compared to its average volume of 860,130. Guidewire Software, Inc. has a 1-year low of $107.00 and a 1-year high of $219.59. The stock has a market capitalization of $16.05 billion, a P/E ratio of 531.39, a price-to-earnings-growth ratio of 37.21 and a beta of 1.31. The stock has a 50-day moving average of $195.71 and a 200 day moving average of $186.41. 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 posted its quarterly earnings data on Thursday, March 6th. The technology company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.44). Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. The company had revenue of $289.48 million for the quarter, compared to analysts' expectations of $285.74 million. As a group, research analysts anticipate that Guidewire Software, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at Guidewire Software

In related news, CFO Jeffrey Elliott Cooper sold 1,069 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $174.43, for a total transaction of $186,465.67. Following the sale, the chief financial officer now directly owns 73,842 shares of the company's stock, valued at $12,880,260.06. This represents a 1.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael George Rosenbaum sold 1,400 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $170.04, for a total transaction of $238,056.00. Following the completion of the transaction, the chief executive officer now directly owns 269,130 shares of the company's stock, valued at $45,762,865.20. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,622 shares of company stock worth $5,112,632 over the last ninety days. 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.