Highland Capital Management LLC Invests $244,000 in Guidewire Software, Inc. (NYSE:GWRE)

Highland Capital Management LLC purchased a new stake in Guidewire Software, Inc. (NYSE:GWRE - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,301 shares of the technology company's stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GWRE. IFP Advisors Inc increased its position in shares of Guidewire Software by 1,432.1% during the fourth quarter. IFP Advisors Inc now owns 812 shares of the technology company's stock valued at $137,000 after buying an additional 759 shares during the period. Amalgamated Bank increased its holdings in Guidewire Software by 7.0% during the 4th quarter. Amalgamated Bank now owns 5,182 shares of the technology company's stock worth $874,000 after acquiring an additional 340 shares during the period. Proficio Capital Partners LLC purchased a new stake in Guidewire Software in the 4th quarter worth approximately $12,050,000. QRG Capital Management Inc. boosted its holdings in Guidewire Software by 5.3% in the 4th quarter. QRG Capital Management Inc. now owns 7,362 shares of the technology company's stock valued at $1,241,000 after purchasing an additional 372 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Guidewire Software by 10.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 595 shares of the technology company's stock valued at $100,000 after purchasing an additional 56 shares in the last quarter.

Guidewire Software Trading Down 2.3%

NYSE GWRE traded down $5.22 during trading on Wednesday, hitting $226.07. 312,215 shares of the company's stock traded hands, compared to its average volume of 960,296. The firm has a market cap of $19.03 billion, a P/E ratio of 564.55, a PEG ratio of 20.88 and a beta of 1.16. The stock has a fifty day moving average of $224.11 and a two-hundred day moving average of $201.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.23 and a quick ratio of 3.23. Guidewire Software, Inc. has a 12-month low of $132.01 and a 12-month high of $263.20.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping 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 business 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 EPS. Guidewire Software's revenue for the quarter was up 22.0% compared to the same quarter last year. As a group, sell-side analysts expect that Guidewire Software, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Guidewire Software from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. DA Davidson reaffirmed a "neutral" rating and issued a $226.00 price target on shares of Guidewire Software in a report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their price objective on Guidewire Software from $271.00 to $288.00 and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Citigroup upped their price objective on shares of Guidewire Software from $199.00 to $247.00 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. Finally, Bank of America lifted their target price on shares of Guidewire Software from $135.00 to $160.00 and gave the company an "underperform" rating in a research report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Guidewire Software presently has an average rating of "Moderate Buy" and an average price target of $248.31.

Insider Transactions at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 1,400 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $236.89, for a total transaction of $331,646.00. Following the completion of the transaction, the chief executive officer owned 235,868 shares in the company, valued at $55,874,770.52. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael C. Keller sold 1,000 shares of Guidewire Software stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $237.53, for a total transaction of $237,530.00. Following the completion of the sale, the director owned 10,410 shares in the company, valued at approximately $2,472,687.30. This trade represents a 8.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,860 shares of company stock valued at $3,420,954. 0.48% of the stock is currently owned by company insiders.

Guidewire Software Company 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.