Azzad Asset Management Inc. ADV Sells 2,123 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Azzad Asset Management Inc. ADV cut its stake in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 48.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,288 shares of the technology company's stock after selling 2,123 shares during the quarter. Azzad Asset Management Inc. ADV's holdings in Guidewire Software were worth $429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GWRE. Elevation Point Wealth Partners LLC bought a new position in shares of Guidewire Software in the first quarter valued at $579,000. NorthCrest Asset Manangement LLC raised its stake in shares of Guidewire Software by 14.7% in the first quarter. NorthCrest Asset Manangement LLC now owns 1,431 shares of the technology company's stock valued at $268,000 after buying an additional 183 shares during the period. Fifth Third Bancorp lifted its holdings in Guidewire Software by 16.4% during the first quarter. Fifth Third Bancorp now owns 569 shares of the technology company's stock valued at $107,000 after purchasing an additional 80 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Guidewire Software by 46.5% in the first quarter. GAMMA Investing LLC now owns 1,390 shares of the technology company's stock worth $260,000 after purchasing an additional 441 shares in the last quarter. Finally, Yousif Capital Management LLC purchased a new position in shares of Guidewire Software in the first quarter worth about $5,386,000.

Guidewire Software Trading Up 1.0%

Shares of GWRE opened at $253.17 on Monday. The firm has a market cap of $21.32 billion, a price-to-earnings ratio of 703.25, a PEG ratio of 37.21 and a beta of 1.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. Guidewire Software, Inc. has a fifty-two week low of $131.82 and a fifty-two week high of $263.20. The firm has a 50 day moving average price of $211.75 and a 200-day moving average price of $197.24.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.41. Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. The firm had revenue of $293.51 million during the quarter, compared to analyst estimates of $286.40 million. During the same period in the previous year, the business posted $0.26 EPS. The business's quarterly revenue was up 22.0% on a year-over-year basis. As a group, equities research analysts forecast that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Insider Transactions at Guidewire Software

In other news, President John P. Mullen sold 6,116 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $189.41, for a total value of $1,158,431.56. Following the transaction, the president now owns 166,330 shares in the company, valued at $31,504,565.30. This represents a 3.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction that occurred on 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 now owns 245,993 shares in the company, valued at $63,097,204.50. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,423 shares of company stock valued at $4,991,170 in the last three months. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on GWRE. JPMorgan Chase & Co. lifted their target price on shares of Guidewire Software from $231.00 to $271.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Raymond James lifted their target price on shares of Guidewire Software from $225.00 to $255.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Wall Street Zen upgraded shares of Guidewire Software from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. The Goldman Sachs Group raised their price objective on shares of Guidewire Software from $235.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Oppenheimer raised their price objective on shares of Guidewire Software from $230.00 to $275.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $247.00.

About Guidewire Software

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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