Legacy Wealth Asset Management LLC Acquires Shares of 1,658 Guidewire Software, Inc. (NYSE:GWRE)

Legacy Wealth Asset Management LLC purchased a new position in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,658 shares of the technology company's stock, valued at approximately $311,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GWRE. Ossiam acquired a new position in Guidewire Software in the 4th quarter worth $29,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Guidewire Software by 70.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 170 shares of the technology company's stock worth $32,000 after buying an additional 70 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Guidewire Software during the 4th quarter worth about $34,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Guidewire Software by 101.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 197 shares of the technology company's stock worth $34,000 after buying an additional 99 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Guidewire Software during the 4th quarter worth about $47,000.

Analyst Ratings Changes

GWRE has been the subject of a number of recent research reports. Citigroup increased their price objective on shares of Guidewire Software from $199.00 to $247.00 and gave the stock a "neutral" rating in a research note on Thursday. Stifel Nicolaus increased their price objective on shares of Guidewire Software from $230.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Guidewire Software from $231.00 to $271.00 and gave the stock an "overweight" rating in a research note on Wednesday. DA Davidson restated a "neutral" rating and set a $226.00 price objective on shares of Guidewire Software in a research note on Wednesday. Finally, JMP Securities raised their target price on shares of Guidewire Software from $250.00 to $281.00 and gave the company a "market outperform" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $247.00.

Guidewire Software Stock Performance

GWRE stock traded up $1.95 during mid-day trading on Thursday, hitting $255.93. 1,585,412 shares of the company were exchanged, compared to its average volume of 943,001. The business has a 50 day simple moving average of $203.14 and a 200-day simple moving average of $195.13. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $21.47 billion, a PE ratio of 710.92, a price-to-earnings-growth ratio of 37.21 and a beta of 1.18. Guidewire Software, Inc. has a 1-year low of $126.54 and a 1-year high of $263.20.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $293.51 million during the quarter, compared to the consensus estimate 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 period last year, the business posted $0.26 earnings per share. On average, equities analysts forecast that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other Guidewire Software news, insider James Winston King sold 1,051 shares of Guidewire Software stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $189.41, for a total value of $199,069.91. Following the completion of the transaction, the insider now directly owns 44,613 shares of the company's stock, valued at $8,450,148.33. The trade was a 2.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael George Rosenbaum sold 1,400 shares of Guidewire Software stock in a transaction on Monday, March 10th. The shares were sold at an average price of $170.04, for a total value of $238,056.00. Following the completion of the transaction, the chief executive officer now directly owns 269,130 shares of the company's stock, valued at $45,762,865.20. This represents a 0.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,671 shares of company stock worth $5,471,104 over the last three months. Insiders own 0.48% of the company's stock.

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.