Guidewire Software, Inc. (NYSE:GWRE) Stock position eliminated by QRG Capital Management Inc.

QRG Capital Management Inc. increased his stake in shares of Guidewire Software, Inc. (NYSE:GWRE – Free Report) rose 265.4% during the third quarter, the company said in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,990 shares of the technology company, after purchasing an additional 5,077 shares during the quarter. The importance of QRG Capital Management Inc. in Guidewire Software was worth $1,279,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GWRE. Vanguard Group Inc. increased its stake in Guidewire Software by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock worth $949,430,000 after purchasing an additional 67,439 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Guidewire Software by 23.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock valued at $378,832,000 after acquiring an additional 516,942 shares during the period. Linonia Partnership LP increased its stake in Guidewire Software by 8.4% during the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after purchasing an additional 185,077 shares in the last quarter. Whale Rock Capital Management LLC increased its position in Guidewire Software by 23.4% in the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after purchasing an additional 240,622 shares during the period. Finally, Blair William & Co. IL increased its stake in Guidewire Software by 5.4% during the first quarter. Blair William & Co. IL now owns 1,244,416 shares of the technology company’s stock valued at $145,236,000 after purchasing an additional 64,149 shares in the last quarter.

Insider activity

In related news, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $149.03, for a total transaction of $201,190.50. Following the completion of the sale, the insider now directly owns 137,821 shares in the company, valued at approximately $20,539,463.63. This transaction represents a 0.00% decrease in their ownership of the shares. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Guidewire Software news, CEO Michael George Rosenbaum sold 23,379 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock sold at an average price of $172.16, for a total value of $4,024,928.64. Following the transaction, the CEO now owns 287,662 shares in the company, valued at $49,523,889.92. The transaction represented a 0.00% decrease in their ownership of the shares. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock sold at an average price of $149.03, for a total value of $201,190.50. Following the completion of the transaction, the insider now directly owns 137,821 shares of the company’s stock, valued at approximately $20,539,463.63. The transaction represented a 0.00% decrease in their ownership of the shares. The explanation of this sale can be found here. Insiders have sold 52,601 shares of the company worth $9,050,448 in the last 90 days. Company insiders own 0.38% of the company’s shares.

Changes in analyst ratings

GWRE has been the subject of a number of research reports. Oppenheimer reissued an “outperform” rating and a $200.00 price target (previously from $185.00) on shares of Guidewire Software in a research note on Friday, October 11th. Stifel Nicolaus raised their target price on shares of Guidewire Software from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, September 26. Citigroup raised their price objective on shares of Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, September 9. Wells Fargo & Company lifted their target price on shares of Guidewire Software from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, JMP Securities raised their target price on shares of Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $178.62.

Check out our latest report on Guidewire software

Guidewire software stock performance

NYSE GWRE opened at $194.95 on Friday. The company’s 50-day moving average price is $178.91 and its two-hundred-day moving average price is $149.09. Guidewire Software, Inc. has a 12-month low of $89.36 and a 12-month high of $196.65. The stock has a market cap of $16.28 billion, a price-to-earnings ratio of -2,436.88, a PEG ratio of 47.99 and a beta of 1.18.

Guidewire Software (NYSE:GWRE – Get Free Report) posted its latest quarterly results on Thursday, September 5. The technology company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $291.50 million for the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. Guidewire Software’s revenue for the quarter increased 8.0% compared to the prior-year quarter. In the same quarter of the previous year, the company posted earnings per share of $0.30. On average, research analysts predict that Guidewire Software, Inc. will record a profit per share of 0.53 for the current financial year.

About Guidewire software

(Free report)

Guidewire Software, Inc provides a platform for property and casualty insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud and ClaimCenter Cloud applications. It also offers Guidewire InsuranceNow, a cloud-based platform that provides policy, billing and claims management functionality to insurers; and Guidewire InsuranceSuite for self-management.

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