Harvest Fund Management Co. Ltd Decreases Stake in Guidewire Software, Inc. (NYSE:GWRE)

Harvest Fund Management Co. Ltd reduced its position in shares of Guidewire Software, Inc. (NYSE:GWRE) by 70.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 882 shares of the technology company’s stock after selling 2,135 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Guidewire Software were worth $149,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GWRE. Point72 Asset Management L.P. acquired a new stake in Guidewire Software during the third quarter worth about $26,501,000. Janus Henderson Group PLC increased its position in Guidewire Software by 355.8% during the third quarter. Janus Henderson Group PLC now owns 162,447 shares of the technology company’s stock worth $29,719,000 after purchasing an additional 126,806 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Guidewire Software by 192.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 134,266 shares of the technology company’s stock worth $22,635,000 after purchasing an additional 88,304 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Guidewire Software during the fourth quarter worth about $12,050,000. Finally, Assenagon Asset Management S.A. increased its position in Guidewire Software by 42.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 213,527 shares of the technology company’s stock worth $35,996,000 after purchasing an additional 63,199 shares during the last quarter.

Analyst Upgrades and Downgrades

GWRE has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price objective on shares of Guidewire Software from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. DA Davidson reiterated a “buy” rating and set a $210.00 price target on shares of Guidewire Software in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on shares of Guidewire Software from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Royal Bank of Canada lifted their price target on shares of Guidewire Software from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Guidewire Software in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $206.08.

Guidewire Software Trading Down 0.8 %

Shares of GWRE stock opened at $191.84 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market capitalization of $16.09 billion, a P/E ratio of 532.89, a price-to-earnings-growth ratio of 37.21 and a beta of 1.31. The company has a 50 day moving average price of $197.47 and a 200 day moving average price of $187.41. Guidewire Software, Inc. has a fifty-two week low of $107.00 and a fifty-two week high of $219.59.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, March 6th. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.44). Guidewire Software had a net margin of 2.91% and a return on equity of 2.38%. The business had revenue of $289.48 million during the quarter, compared to analyst estimates of $285.74 million. Equities research analysts predict that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jeffrey Elliott Cooper sold 1,956 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $189.41, for a total transaction of $370,485.96. Following the completion of the sale, the chief financial officer now owns 71,538 shares in the company, valued at approximately $13,550,012.58. The trade was a 2.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Winston King sold 270 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $174.78, for a total transaction of $47,190.60. Following the sale, the insider now owns 45,664 shares of the company’s stock, valued at $7,981,153.92. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,780 shares of company stock worth $6,886,553 over the last 90 days. 0.48% of the stock is owned by insiders.

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.