Mackenzie Financial Corp Has $1.22 Million Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Mackenzie Financial Corp reduced its position in shares of Guidewire Software, Inc. (NYSE:GWRE - Free Report) by 90.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,508 shares of the technology company's stock after selling 63,647 shares during the quarter. Mackenzie Financial Corp's holdings in Guidewire Software were worth $1,219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GWRE. Commonwealth Equity Services LLC bought a new stake in Guidewire Software during the 4th quarter worth approximately $223,000. Norges Bank bought a new stake in Guidewire Software during the 4th quarter worth approximately $9,107,000. O Shaughnessy Asset Management LLC increased its holdings in Guidewire Software by 10.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,548 shares of the technology company's stock worth $935,000 after purchasing an additional 533 shares in the last quarter. National Bank of Canada FI increased its holdings in Guidewire Software by 39.0% during the 4th quarter. National Bank of Canada FI now owns 1,087 shares of the technology company's stock worth $183,000 after purchasing an additional 305 shares in the last quarter. Finally, Prudential PLC bought a new stake in Guidewire Software during the 4th quarter worth approximately $1,290,000.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GWRE. Stifel Nicolaus boosted their price objective on Guidewire Software from $230.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Wall Street Zen raised Guidewire Software from a "hold" rating to a "buy" rating in a report on Friday, June 6th. DA Davidson reaffirmed a "neutral" rating and issued a $226.00 target price on shares of Guidewire Software in a report on Wednesday, June 4th. Robert W. Baird upped their target price on Guidewire Software from $265.00 to $270.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, The Goldman Sachs Group upped their target price on Guidewire Software from $235.00 to $270.00 and gave the company a "buy" rating in a 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 issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $250.92.

Insider Activity at Guidewire Software

In other Guidewire Software 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 transaction of $705,150.00. Following the sale, the president owned 146,489 shares in the company, valued at $34,432,239.45. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James Winston King sold 2,482 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $220.65, for a total value of $547,653.30. Following the sale, the insider owned 37,441 shares in the company, valued at approximately $8,261,356.65. This represents a 6.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,342 shares of company stock worth $5,572,791. Insiders own 0.48% of the company's stock.

Guidewire Software Price Performance

Guidewire Software stock opened at $226.09 on Tuesday. Guidewire Software, Inc. has a 12 month low of $132.01 and a 12 month high of $263.20. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.49. The business's 50 day simple moving average is $231.82 and its 200 day simple moving average is $210.61. The company has a market cap of $19.03 billion, a price-to-earnings ratio of 565.23, a PEG ratio of 15.71 and a beta of 1.16.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted 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 business had revenue of $293.51 million for the quarter, compared to the consensus estimate of $286.40 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. Guidewire Software's revenue for the quarter was up 22.0% on a year-over-year basis. Sell-side analysts forecast that Guidewire Software, Inc. will post 0.52 EPS for the current year.

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.

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