Linscomb Wealth Inc. Has $680,000 Stake in Guidewire Software, Inc. (NYSE:GWRE)

Linscomb Wealth Inc. trimmed its stake in Guidewire Software, Inc. (NYSE:GWRE) by 2.9% during the third quarter, Holdings Channel reports. The fund owned 3,717 shares of the technology company’s stock after selling 111 shares during the quarter. Linscomb Wealth Inc.’s holdings in Guidewire Software were worth $680,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Guidewire Software by 21.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 345 shares of the technology company’s stock valued at $63,000 after purchasing an additional 60 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Guidewire Software by 4.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,050 shares of the technology company’s stock valued at $283,000 after purchasing an additional 79 shares during the period. CIBC Asset Management Inc increased its position in shares of Guidewire Software by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,451 shares of the technology company’s stock valued at $448,000 after purchasing an additional 87 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Guidewire Software by 1.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,078 shares of the technology company’s stock valued at $1,252,000 after purchasing an additional 116 shares during the period. Finally, CHICAGO TRUST Co NA increased its position in shares of Guidewire Software by 4.8% during the second quarter. CHICAGO TRUST Co NA now owns 2,845 shares of the technology company’s stock valued at $392,000 after purchasing an additional 130 shares during the period.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. DA Davidson restated a “buy” rating and set a $168.00 price objective on shares of Guidewire Software in a research report on Friday, September 6th. Wells Fargo & Company boosted their price target on Guidewire Software from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. BTIG Research boosted their price target on Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 30th. The Goldman Sachs Group boosted their price target on Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Guidewire Software from $170.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $178.62.

Guidewire Software Stock Performance

Guidewire Software stock opened at $192.22 on Friday. The firm has a market cap of $16.05 billion, a P/E ratio of -2,402.45, a P/E/G ratio of 50.81 and a beta of 1.18. The business’s fifty day moving average is $183.45 and its two-hundred day moving average is $151.93. Guidewire Software, Inc. has a 52 week low of $94.97 and a 52 week high of $199.33.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. Guidewire Software had a negative return on equity of 1.29% and a negative net margin of 0.62%. The business had revenue of $291.50 million for the quarter, compared to analyst estimates of $283.84 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts predict that Guidewire Software, Inc. will post 0.53 earnings per share for the current year.

Insider Activity

In related news, insider John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $149.03, for a total value of $201,190.50. Following the completion of the sale, the insider now owns 137,821 shares in the company, valued at approximately $20,539,463.63. This represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider James Winston King sold 4,514 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $172.66, for a total value of $779,387.24. Following the completion of the sale, the insider now owns 48,237 shares of the company’s stock, valued at $8,328,600.42. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,601 shares of company stock valued at $9,050,448 over the last 90 days. 0.48% of the stock is owned by company insiders.

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.