Assenagon Asset Management S.A. Has $27.50 Million Stock Position in Guidewire Software, Inc. (NYSE:GWRE)

Assenagon Asset Management S.A. raised its position in Guidewire Software, Inc. (NYSE:GWRE) by 370.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,328 shares of the technology company’s stock after purchasing an additional 118,369 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Guidewire Software were worth $27,501,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GWRE. International Assets Investment Management LLC grew its stake in shares of Guidewire Software by 18,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 258,128 shares of the technology company’s stock valued at $472,220,000 after buying an additional 256,702 shares in the last quarter. Lecap Asset Management Ltd. lifted its stake in Guidewire Software by 135.8% in the third quarter. Lecap Asset Management Ltd. now owns 25,554 shares of the technology company’s stock valued at $4,675,000 after acquiring an additional 14,715 shares during the last quarter. Signaturefd LLC grew its position in Guidewire Software by 2.4% in the third quarter. Signaturefd LLC now owns 6,051 shares of the technology company’s stock worth $1,107,000 after acquiring an additional 139 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Guidewire Software by 3.2% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 28,484 shares of the technology company’s stock worth $5,211,000 after purchasing an additional 884 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in shares of Guidewire Software by 4.6% during the 3rd quarter. Whittier Trust Co. now owns 57,256 shares of the technology company’s stock valued at $10,474,000 after purchasing an additional 2,534 shares in the last quarter.

Insiders Place Their Bets

In other news, CEO Michael George Rosenbaum sold 23,379 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the completion of the transaction, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael George Rosenbaum sold 23,379 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $172.16, for a total value of $4,024,928.64. Following the completion of the transaction, the chief executive officer now directly owns 287,662 shares of the company’s stock, valued at approximately $49,523,889.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President John P. Mullen sold 1,350 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $187.68, for a total value of $253,368.00. Following the completion of the sale, the president now directly owns 190,611 shares in the company, valued at approximately $35,773,872.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock worth $9,050,448 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GWRE shares. The Goldman Sachs Group upped their price objective on shares of Guidewire Software from $146.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Robert W. Baird increased their price objective on Guidewire Software from $175.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. JMP Securities boosted their target price on Guidewire Software from $179.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday, October 11th. Stifel Nicolaus increased their price target on Guidewire Software from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Guidewire Software from $170.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Guidewire Software currently has a consensus rating of “Moderate Buy” and an average price target of $178.62.

Guidewire Software Stock Performance

NYSE GWRE opened at $187.11 on Friday. Guidewire Software, Inc. has a twelve month low of $85.15 and a twelve month high of $191.48. The stock has a market cap of $15.47 billion, a PE ratio of -1,439.31 and a beta of 1.19. The firm has a 50-day simple moving average of $170.57 and a 200 day simple moving average of $143.63.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS. Research analysts forecast that Guidewire Software, Inc. will post 0.53 earnings per share for the current fiscal 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.