Bank of New York Mellon Corp Increases Holdings in Guidewire Software, Inc. (NYSE:GWRE)

Bank of New York Mellon Corp lifted its position in Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 560,301 shares of the technology company's stock after purchasing an additional 62,107 shares during the quarter. Bank of New York Mellon Corp owned about 0.67% of Guidewire Software worth $104,978,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of GWRE. Proficio Capital Partners LLC purchased a new position in shares of Guidewire Software in the fourth quarter worth about $12,050,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Guidewire Software in the fourth quarter worth about $205,000. Amundi raised its stake in shares of Guidewire Software by 32.1% in the fourth quarter. Amundi now owns 18,299 shares of the technology company's stock worth $3,141,000 after purchasing an additional 4,445 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Guidewire Software by 13.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,023 shares of the technology company's stock worth $3,544,000 after purchasing an additional 2,467 shares during the last quarter. Finally, Independent Advisor Alliance purchased a new position in shares of Guidewire Software in the fourth quarter worth about $2,786,000.

Insider Transactions at Guidewire Software

In related news, President John P. Mullen sold 3,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $235.05, for a total value of $705,150.00. Following the completion of the transaction, the president directly owned 146,489 shares of the company's stock, valued at approximately $34,432,239.45. This represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael C. Keller sold 1,000 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $237.53, for a total value of $237,530.00. Following the completion of the transaction, the director directly owned 10,410 shares of the company's stock, valued at approximately $2,472,687.30. This represents a 8.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,860 shares of company stock valued at $4,214,136 over the last ninety days. Insiders own 0.48% of the company's stock.

Guidewire Software Price Performance

GWRE traded down $5.69 during trading on Friday, hitting $219.44. The company's stock had a trading volume of 611,491 shares, compared to its average volume of 970,016. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.49. Guidewire Software, Inc. has a twelve month low of $132.01 and a twelve month high of $263.20. The business's fifty day simple moving average is $228.37 and its 200 day simple moving average is $204.39. The firm has a market capitalization of $18.47 billion, a price-to-earnings ratio of 548.60, a P/E/G ratio of 19.96 and a beta of 1.16.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.47 by $0.41. Guidewire Software had a return on equity of 6.96% and a net margin of 3.04%. The company had revenue of $293.51 million for the quarter, compared to analyst estimates of $286.40 million. During the same period last year, the company earned $0.26 earnings per share. Guidewire Software's quarterly revenue was up 22.0% compared to the same quarter last year. On average, equities research analysts forecast that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

GWRE has been the subject of several research analyst reports. DA Davidson restated a "neutral" rating and issued a $226.00 price objective on shares of Guidewire Software in a research note on Wednesday, June 4th. Raymond James Financial raised their price objective on Guidewire Software from $225.00 to $255.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. The Goldman Sachs Group raised their target price on Guidewire Software from $235.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Guidewire Software in a report on Wednesday, June 4th. Finally, Citigroup raised their target price on Guidewire Software from $199.00 to $247.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Guidewire Software presently has an average rating of "Moderate Buy" and a consensus price target of $248.31.

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.