Hennion & Walsh Asset Management Inc. Takes $280,000 Position in Guidewire Software, Inc. (NYSE:GWRE)

Hennion & Walsh Asset Management Inc. purchased a new stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,496 shares of the technology company's stock, valued at approximately $280,000.

A number of other hedge funds have also added to or reduced their stakes in GWRE. Smartleaf Asset Management LLC raised its position in shares of Guidewire Software by 10.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 595 shares of the technology company's stock worth $100,000 after acquiring an additional 56 shares in the last quarter. Norden Group LLC boosted its position in shares of Guidewire Software by 5.2% during the fourth quarter. Norden Group LLC now owns 1,232 shares of the technology company's stock valued at $208,000 after purchasing an additional 61 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Guidewire Software by 70.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company's stock worth $32,000 after purchasing an additional 70 shares during the period. Argonautica Private Wealth Management Inc. raised its holdings in Guidewire Software by 1.9% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 4,040 shares of the technology company's stock worth $681,000 after purchasing an additional 75 shares in the last quarter. Finally, True Wealth Design LLC raised its holdings in Guidewire Software by 14.4% in the fourth quarter. True Wealth Design LLC now owns 677 shares of the technology company's stock worth $114,000 after purchasing an additional 85 shares in the last quarter.

Guidewire Software Stock Performance

Shares of NYSE:GWRE traded down $5.29 during midday trading on Tuesday, reaching $252.08. 857,497 shares of the company's stock traded hands, compared to its average volume of 1,075,413. 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 one year low of $131.82 and a one year high of $263.20. The company has a market cap of $21.14 billion, a price-to-earnings ratio of 700.22, a P/E/G ratio of 37.21 and a beta of 1.15. The stock has a 50 day moving average of $205.73 and a 200 day moving average of $195.87.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.41. The business had revenue of $293.51 million for the quarter, compared to analysts' expectations of $286.40 million. Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS. As a group, equities research analysts anticipate that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GWRE has been the subject of a number of recent research reports. Needham & Company LLC reissued a "hold" rating on shares of Guidewire Software in a research report on Wednesday, June 4th. Stifel Nicolaus upped their price target on Guidewire Software from $230.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Royal Bank of Canada lifted their price objective on Guidewire Software from $230.00 to $290.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Wall Street Zen raised Guidewire Software from a "hold" rating to a "buy" rating in a report on Friday. Finally, JMP Securities increased their target price on Guidewire Software from $250.00 to $281.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $247.00.

Insider Activity at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 1,400 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $185.03, for a total transaction of $259,042.00. Following the completion of the sale, the chief executive officer now owns 267,730 shares in the company, valued at approximately $49,538,081.90. This represents a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President John P. Mullen sold 6,116 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total value of $1,158,431.56. Following the completion of the transaction, the president now directly owns 166,330 shares in the company, valued at $31,504,565.30. The trade was a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,671 shares of company stock worth $5,592,148 over the last quarter. 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.