Pictet Asset Management SA Has $2.29 Million Position in Guidewire Software, Inc. (NYSE:GWRE)

Pictet Asset Management SA grew its holdings in Guidewire Software, Inc. (NYSE:GWREGet Rating) by 17.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,238 shares of the technology company’s stock after purchasing an additional 4,673 shares during the quarter. Pictet Asset Management SA’s holdings in Guidewire Software were worth $2,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Benjamin Edwards Inc. increased its holdings in Guidewire Software by 9,075.0% during the 1st quarter. Benjamin Edwards Inc. now owns 367 shares of the technology company’s stock worth $35,000 after purchasing an additional 363 shares in the last quarter. Fortitude Advisory Group L.L.C. grew its holdings in shares of Guidewire Software by 94.4% in the first quarter. Fortitude Advisory Group L.L.C. now owns 414 shares of the technology company’s stock valued at $38,000 after acquiring an additional 201 shares in the last quarter. Charter Oak Capital Management LLC bought a new position in shares of Guidewire Software in the second quarter valued at approximately $39,000. Prospera Financial Services Inc bought a new position in shares of Guidewire Software in the first quarter valued at approximately $43,000. Finally, Urban Wealth Management LLC bought a new position in shares of Guidewire Software in the second quarter valued at approximately $57,000. 99.36% of the stock is owned by institutional investors.

Guidewire Software Stock Up 0.2 %

Shares of NYSE:GWRE opened at $57.20 on Tuesday. The stock’s 50-day moving average price is $59.59 and its 200-day moving average price is $69.90. Guidewire Software, Inc. has a 12-month low of $52.08 and a 12-month high of $123.79. The stock has a market capitalization of $4.68 billion, a P/E ratio of -26.36 and a beta of 1.26. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.25.

Guidewire Software (NYSE:GWREGet Rating) last posted its earnings results on Tuesday, September 6th. The technology company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.02. The company had revenue of $244.60 million during the quarter, compared to analyst estimates of $229.63 million. Guidewire Software had a negative net margin of 22.20% and a negative return on equity of 10.06%. Guidewire Software’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share. On average, equities analysts anticipate that Guidewire Software, Inc. will post -1.54 earnings per share for the current year.

Insider Transactions at Guidewire Software

In other news, CFO Jeffrey Elliott Cooper sold 2,904 shares of the stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $62.82, for a total transaction of $182,429.28. Following the completion of the sale, the chief financial officer now directly owns 70,528 shares in the company, valued at $4,430,568.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 2,904 shares of the firm’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $62.82, for a total value of $182,429.28. Following the completion of the sale, the chief financial officer now directly owns 70,528 shares in the company, valued at $4,430,568.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael George Rosenbaum sold 27,786 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $62.82, for a total transaction of $1,745,516.52. Following the completion of the sale, the chief executive officer now owns 201,160 shares of the company’s stock, valued at $12,636,871.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,202 shares of company stock worth $2,588,310. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GWRE. StockNews.com began coverage on Guidewire Software in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Citigroup dropped their price objective on Guidewire Software from $88.00 to $79.00 and set a “neutral” rating on the stock in a research note on Monday, September 12th. DA Davidson dropped their price objective on Guidewire Software from $114.00 to $96.00 and set a “buy” rating on the stock in a research note on Tuesday, August 30th. Robert W. Baird dropped their price objective on Guidewire Software from $99.00 to $81.00 and set a “neutral” rating on the stock in a research note on Thursday, September 8th. Finally, Royal Bank of Canada dropped their price objective on Guidewire Software from $125.00 to $100.00 in a research note on Wednesday, September 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Guidewire Software currently has a consensus rating of “Hold” and a consensus target price of $89.56.

About Guidewire Software

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Guidewire Software, Inc provides software products for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud comprising 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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Institutional Ownership by Quarter for Guidewire Software (NYSE:GWRE)

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