Assetmark Inc. Increases Stake in Guidewire Software, Inc. (NYSE:GWRE)

Key Points

• Assetmark Inc. significantly increased its stake in Guidewire Software, raising it by 1,419.4% to 2,735 shares worth $512,000 as reported in a recent SEC filing.
• The company's stock has been receiving mixed ratings from analysts, with price objectives ranging from $160 to $281, indicating a general sentiment of "Moderate Buy."
• CEO Michael George Rosenbaum and President John P. Mullen recently sold shares of Guidewire, with insider sales totaling approximately $4.88 million over the past ninety days.

Assetmark Inc. grew its position in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 1,419.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,735 shares of the technology company's stock after purchasing an additional 2,555 shares during the quarter. Assetmark Inc.'s holdings in Guidewire Software were worth $512,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Portside Wealth Group LLC increased its holdings in Guidewire Software by 148.1% in the 1st quarter. Portside Wealth Group LLC now owns 2,724 shares of the technology company's stock worth $510,000 after acquiring an additional 1,626 shares in the last quarter. Praxis Investment Management Inc. purchased a new stake in shares of Guidewire Software during the first quarter worth about $347,000. Principal Financial Group Inc. increased its stake in shares of Guidewire Software by 3,320.4% during the first quarter. Principal Financial Group Inc. now owns 192,843 shares of the technology company's stock worth $36,131,000 after purchasing an additional 187,205 shares in the last quarter. OMNI 360 Wealth Inc. purchased a new stake in Guidewire Software during the 1st quarter worth approximately $211,000. Finally, International Assets Investment Management LLC purchased a new stake in Guidewire Software during the 1st quarter worth approximately $217,000.

Wall Street Analysts Forecast Growth

GWRE has been the subject of several research reports. Needham & Company LLC reiterated a "hold" rating on shares of Guidewire Software in a research note on Wednesday, June 4th. Stifel Nicolaus upped their target price on shares of Guidewire Software from $230.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. DA Davidson reaffirmed a "neutral" rating and set a $226.00 target price on shares of Guidewire Software in a report on Wednesday, June 4th. JMP Securities upped their target price on shares of Guidewire Software from $250.00 to $281.00 and gave the stock a "market outperform" rating in a report on Wednesday, June 4th. Finally, Oppenheimer upped their price objective on shares of Guidewire Software from $230.00 to $275.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $250.92.

Guidewire Software Trading Up 1.4%

Shares of NYSE GWRE traded up $3.21 during mid-day trading on Monday, reaching $226.09. 568,199 shares of the company's stock were exchanged, compared to its average volume of 626,553. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of 216.39, a PEG ratio of 15.71 and a beta of 1.16. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.23 and a current ratio of 3.23. Guidewire Software, Inc. has a 52-week low of $132.01 and a 52-week high of $263.20. The company's 50-day moving average is $231.49 and its 200-day moving average is $210.28.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.41. The company had revenue of $293.51 million during the quarter, compared to analyst estimates of $286.40 million. Guidewire Software had a net margin of 3.04% and a return on equity of 6.96%. Guidewire Software's revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. Analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Insider Transactions at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 1,400 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $256.50, for a total transaction of $359,100.00. Following the completion of the transaction, the chief executive officer directly owned 245,993 shares in the company, valued at $63,097,204.50. This trade represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President John P. Mullen sold 3,000 shares of Guidewire Software stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $235.05, for a total transaction of $705,150.00. Following the completion of the transaction, the president owned 146,489 shares of the company's stock, valued at $34,432,239.45. This trade represents a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,342 shares of company stock worth $5,572,791 over the last ninety days. Company insiders own 0.48% of the company's stock.

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.