Guidewire Software, Inc. (NYSE:GWRE) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its holdings in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 26.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,211 shares of the technology company's stock after selling 1,910 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Guidewire Software were worth $878,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GWRE. Banco Santander S.A. acquired a new stake in Guidewire Software during the 4th quarter worth $427,000. Haven Private LLC acquired a new stake in shares of Guidewire Software during the fourth quarter worth about $398,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Guidewire Software in the 4th quarter valued at about $205,000. Inceptionr LLC acquired a new stake in shares of Guidewire Software in the 4th quarter valued at about $723,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Guidewire Software during the fourth quarter worth approximately $34,000.

Analysts Set New Price Targets

A number of brokerages have recently commented on GWRE. DA Davidson reaffirmed a "buy" rating and issued a $210.00 target price on shares of Guidewire Software in a report on Wednesday, December 4th. Royal Bank of Canada upped their target price on shares of Guidewire Software from $215.00 to $230.00 and gave the company an "outperform" rating in a report on Friday, December 6th. The Goldman Sachs Group upped their price objective on Guidewire Software from $210.00 to $240.00 and gave the company a "buy" rating in a research note on Monday, February 10th. JMP Securities reiterated a "market outperform" rating and issued a $231.00 target price on shares of Guidewire Software in a research note on Friday, December 6th. Finally, Oppenheimer upped their price target on Guidewire Software from $220.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $206.08.

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Insider Activity at Guidewire Software

In related news, 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 sale, the president now directly owns 166,330 shares in the company, valued at approximately $31,504,565.30. This represents a 3.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey Elliott Cooper sold 1,956 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total value of $370,485.96. Following the transaction, the chief financial officer now owns 71,538 shares in the company, valued at approximately $13,550,012.58. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,780 shares of company stock valued at $6,886,553 over the last quarter. Insiders own 0.48% of the company's stock.

Guidewire Software Price Performance

GWRE traded down $1.62 on Friday, hitting $191.84. 1,443,362 shares of the company were exchanged, compared to its average volume of 865,257. The business's fifty day moving average is $197.06 and its 200 day moving average is $186.82. Guidewire Software, Inc. has a fifty-two week low of $107.00 and a fifty-two week high of $219.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market capitalization of $16.09 billion, a P/E ratio of 532.89, a price-to-earnings-growth ratio of 37.21 and a beta of 1.31.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its 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). Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. The firm had revenue of $289.48 million for the quarter, compared to analysts' expectations of $285.74 million. As a group, sell-side analysts anticipate that Guidewire Software, Inc. will post 0.52 EPS for the current year.

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.