Point72 Asset Management L.P. Takes Position in Guidewire Software, Inc. (NYSE:GWRE)

Point72 Asset Management L.P. bought a new position in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund bought 144,861 shares of the technology company's stock, valued at approximately $26,501,000. Point72 Asset Management L.P. owned 0.17% of Guidewire Software at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Cetera Investment Advisers raised its position in Guidewire Software by 648.0% in the first quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company's stock worth $2,114,000 after acquiring an additional 15,695 shares during the period. Icon Wealth Advisors LLC lifted its stake in Guidewire Software by 72.4% in the third quarter. Icon Wealth Advisors LLC now owns 5,984 shares of the technology company's stock valued at $1,095,000 after purchasing an additional 2,512 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Guidewire Software by 8.0% during the second quarter. Parkside Financial Bank & Trust now owns 2,215 shares of the technology company's stock valued at $305,000 after purchasing an additional 165 shares during the period. Cerity Partners LLC increased its position in Guidewire Software by 326.8% in the third quarter. Cerity Partners LLC now owns 21,799 shares of the technology company's stock worth $3,988,000 after buying an additional 16,692 shares during the last quarter. Finally, Xponance Inc. increased its position in Guidewire Software by 79.8% in the second quarter. Xponance Inc. now owns 6,908 shares of the technology company's stock worth $953,000 after buying an additional 3,066 shares during the last quarter.

Guidewire Software Price Performance

GWRE stock traded down $29.00 during midday trading on Friday, reaching $177.57. The company had a trading volume of 4,581,476 shares, compared to its average volume of 720,912. The firm has a 50-day moving average price of $191.59 and a 200-day moving average price of $160.19. The company has a market capitalization of $14.83 billion, a P/E ratio of -2,224.47, a P/E/G ratio of 52.81 and a beta of 1.18. Guidewire Software, Inc. has a 1 year low of $95.02 and a 1 year high of $209.15.

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

Insider Activity

In other news, CEO Michael George Rosenbaum sold 23,379 shares of the firm's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the transaction, the chief executive officer now directly owns 287,662 shares of the company's stock, valued at approximately $49,523,889.92. This trade represents a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John P. Mullen sold 6,718 shares of the business's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $1,156,570.88. Following the completion of the sale, the insider now directly owns 160,099 shares of the company's stock, valued at approximately $27,562,643.84. This trade represents a 4.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,601 shares of company stock worth $9,116,179. 0.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Guidewire Software from $210.00 to $228.00 and gave the stock an "overweight" rating in a research note on Friday. Royal Bank of Canada lifted their target price on shares of Guidewire Software from $215.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday. JMP Securities restated a "market outperform" rating and set a $231.00 price target on shares of Guidewire Software in a research note on Friday. Stifel Nicolaus boosted their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Finally, Citigroup increased their target price on Guidewire Software from $123.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $193.00.

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.