PNC Financial Services Group Inc. Decreases Stock Holdings in Guidewire Software, Inc. (NYSE:GWRE)

PNC Financial Services Group Inc. decreased its holdings in Guidewire Software, Inc. (NYSE:GWRE) by 3.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,121 shares of the technology company’s stock after selling 250 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Guidewire Software were worth $1,303,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Rothschild Investment LLC acquired a new stake in shares of Guidewire Software during the second quarter worth about $31,000. Assetmark Inc. boosted its holdings in shares of Guidewire Software by 537.0% in the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after acquiring an additional 145 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Guidewire Software in the 2nd quarter valued at $41,000. DT Investment Partners LLC acquired a new stake in shares of Guidewire Software in the second quarter worth $41,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Guidewire Software during the second quarter worth $55,000.

Guidewire Software Trading Down 1.3 %

GWRE stock opened at $201.88 on Thursday. Guidewire Software, Inc. has a 12-month low of $95.02 and a 12-month high of $207.10. The business’s 50-day moving average is $187.59 and its 200 day moving average is $156.66. The stock has a market cap of $16.86 billion, a price-to-earnings ratio of -2,523.18, a PEG ratio of 52.54 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 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 firm had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. During the same period in the prior year, the company earned $0.30 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts forecast that Guidewire Software, Inc. will post 0.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Citigroup increased their price target on Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $215.00 target price on shares of Guidewire Software in a report on Tuesday, November 19th. Wells Fargo & Company boosted their price target on Guidewire Software from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Stifel Nicolaus raised their price objective on shares of Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $186.08.

Insider Transactions at Guidewire Software

In other Guidewire Software news, President John P. Mullen sold 1,350 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total transaction of $266,922.00. Following the transaction, the president now owns 189,261 shares of the company’s stock, valued at approximately $37,420,684.92. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James Winston King sold 4,514 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was 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 directly owns 48,237 shares of the company’s stock, valued at $8,328,600.42. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,601 shares of company stock valued at $9,116,179. Corporate insiders own 0.48% of the company’s stock.

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.