Whale Rock Capital Management LLC Increases Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Whale Rock Capital Management LLC lifted its position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 972,743 shares of the technology company's stock after acquiring an additional 31,512 shares during the quarter. Guidewire Software accounts for 2.5% of Whale Rock Capital Management LLC's portfolio, making the stock its 18th largest position. Whale Rock Capital Management LLC owned about 1.16% of Guidewire Software worth $177,954,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GWRE. Massachusetts Financial Services Co. MA lifted its holdings in shares of Guidewire Software by 24.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,426,907 shares of the technology company's stock worth $626,918,000 after acquiring an additional 679,558 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Guidewire Software by 18,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company's stock valued at $472,220,000 after buying an additional 256,702 shares in the last quarter. Teca Partners LP bought a new stake in Guidewire Software during the 2nd quarter valued at about $25,893,000. Linonia Partnership LP lifted its holdings in Guidewire Software by 8.4% during the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company's stock valued at $330,329,000 after buying an additional 185,077 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in Guidewire Software during the 2nd quarter valued at about $22,318,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Guidewire Software from $215.00 to $220.00 and gave the company an "overweight" rating in a report on Friday. BTIG Research lifted their price objective on shares of Guidewire Software from $140.00 to $165.00 and gave the company a "buy" rating in a report on Friday, August 30th. JMP Securities reiterated a "market outperform" rating and set a $231.00 price objective on shares of Guidewire Software in a report on Friday. Oppenheimer lifted their price objective on shares of Guidewire Software from $220.00 to $230.00 and gave the company an "outperform" rating in a report on Friday. Finally, Citigroup boosted their price target 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $193.00.

Guidewire Software Stock Down 14.0 %

Shares of Guidewire Software stock traded down $28.91 on Friday, reaching $177.66. The stock had a trading volume of 3,680,631 shares, compared to its average volume of 716,675. The company has a 50 day moving average price of $191.59 and a 200 day moving average price of $160.19. Guidewire Software, Inc. has a 1 year low of $95.02 and a 1 year high of $209.15. The stock has a market capitalization of $14.84 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 (NYSE:GWRE - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. During the same quarter in the previous year, the firm earned $0.30 EPS. The company's quarterly revenue was up 8.0% compared to the same quarter last year. On average, analysts forecast that Guidewire Software, Inc. will post 0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President John P. Mullen sold 1,350 shares of the company's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $197.72, for a total value of $266,922.00. Following the sale, the president now directly owns 189,261 shares of the company's stock, valued at $37,420,684.92. This represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael George Rosenbaum sold 23,379 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the sale, the chief executive officer now directly owns 287,662 shares in the company, valued at $49,523,889.92. This trade represents a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,601 shares of company stock valued at $9,116,179. Insiders own 0.48% of the company's stock.

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.