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Verition Fund Management LLC Increases Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Guidewire Software logo with Computer and Technology background

Verition Fund Management LLC grew its position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 161.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,359 shares of the technology company's stock after buying an additional 13,200 shares during the quarter. Verition Fund Management LLC's holdings in Guidewire Software were worth $3,907,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Comerica Bank raised its holdings in shares of Guidewire Software by 61.7% in the 1st quarter. Comerica Bank now owns 25,024 shares of the technology company's stock valued at $2,921,000 after purchasing an additional 9,546 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Guidewire Software by 648.0% during the first quarter. Cetera Investment Advisers now owns 18,117 shares of the technology company's stock worth $2,114,000 after buying an additional 15,695 shares during the period. GAMMA Investing LLC boosted its position in Guidewire Software by 42.1% during the 2nd quarter. GAMMA Investing LLC now owns 760 shares of the technology company's stock valued at $105,000 after acquiring an additional 225 shares in the last quarter. CWM LLC increased its holdings in shares of Guidewire Software by 80.1% in the 2nd quarter. CWM LLC now owns 5,231 shares of the technology company's stock valued at $721,000 after acquiring an additional 2,327 shares during the period. Finally, Simplicity Wealth LLC raised its position in shares of Guidewire Software by 7.0% in the 2nd quarter. Simplicity Wealth LLC now owns 2,659 shares of the technology company's stock worth $367,000 after acquiring an additional 173 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GWRE shares. JPMorgan Chase & Co. raised their price objective on Guidewire Software from $170.00 to $210.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on shares of Guidewire Software from $205.00 to $215.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 19th. Stifel Nicolaus increased their target price on shares of Guidewire Software from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. BTIG Research raised their target price on shares of Guidewire Software from $140.00 to $165.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Finally, DA Davidson reaffirmed a "buy" rating and set a $210.00 price target on shares of Guidewire Software in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $189.31.

View Our Latest Report on GWRE

Insider Activity

In other Guidewire Software news, insider James Winston King sold 4,514 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $172.66, for a total value of $779,387.24. Following the completion of the transaction, the insider now owns 48,237 shares in the company, valued at approximately $8,328,600.42. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael George Rosenbaum sold 23,379 shares of the 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 sale, the chief executive officer now directly owns 287,662 shares in the company, valued at approximately $49,523,889.92. The trade was a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock valued at $9,116,179 in the last quarter. 0.48% of the stock is currently owned by company insiders.

Guidewire Software Stock Up 1.4 %

Shares of Guidewire Software stock traded up $2.94 on Wednesday, reaching $207.07. 851,133 shares of the stock were exchanged, compared to its average volume of 701,247. The business has a 50 day moving average price of $190.39 and a two-hundred day moving average price of $159.53. The firm has a market capitalization of $17.29 billion, a price-to-earnings ratio of -2,594.43, a PEG ratio of 51.96 and a beta of 1.18. Guidewire Software, Inc. has a twelve month low of $95.02 and a twelve month high of $208.56.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate 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 business had revenue of $291.50 million during the quarter, compared to analysts' expectations of $283.84 million. During the same period in the previous year, the business posted $0.30 EPS. The business's quarterly revenue was up 8.0% compared to the same quarter last year. Research analysts forecast that Guidewire Software, Inc. will post 0.53 EPS for the current year.

Guidewire Software Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Guidewire Software (NYSE:GWRE)

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