Insider Selling: Guidewire Software (NYSE:GWRE) Insider Sells 999 Shares of Stock

Guidewire Software, Inc. (NYSE:GWRE) insider James Winston King sold 999 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $118,621.26. Following the completion of the transaction, the insider owned 31,702 shares of the company’s stock, valued at $3,764,295.48. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Guidewire Software Trading Down 2.1%

GWRE stock traded down $2.53 during trading on Tuesday, hitting $117.50. The company had a trading volume of 1,542,169 shares, compared to its average volume of 1,791,430. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $136.21 and a 200-day moving average price of $155.98. Guidewire Software, Inc. has a 12 month low of $113.67 and a 12 month high of $272.60. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 63.51 and a beta of 0.93.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The firm had revenue of $372.54 million during the quarter, compared to analysts’ expectations of $355.92 million. During the same quarter in the previous year, the company posted $0.88 EPS. Guidewire Software’s revenue was up 26.9% on a year-over-year basis. As a group, analysts predict that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on GWRE. Royal Bank Of Canada lowered their target price on shares of Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Oppenheimer lowered their target price on shares of Guidewire Software from $250.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, May 18th. DA Davidson decreased their price target on shares of Guidewire Software from $246.00 to $222.00 and set a “buy” rating for the company in a report on Monday, June 8th. The Goldman Sachs Group decreased their price target on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a report on Friday, June 5th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Guidewire Software in a research report on Tuesday, June 2nd. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $229.00.

Institutional Investors Weigh In On Guidewire Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its position in Guidewire Software by 239.1% during the 1st quarter. Empowered Funds LLC now owns 7,538 shares of the technology company’s stock worth $1,127,000 after buying an additional 5,315 shares in the last quarter. Parallel Advisors LLC lifted its position in Guidewire Software by 44.7% during the 1st quarter. Parallel Advisors LLC now owns 4,561 shares of the technology company’s stock worth $682,000 after buying an additional 1,409 shares in the last quarter. Glenmede Trust Co. NA lifted its position in Guidewire Software by 35.5% during the 1st quarter. Glenmede Trust Co. NA now owns 2,030 shares of the technology company’s stock worth $304,000 after buying an additional 532 shares in the last quarter. Edgestream Partners L.P. bought a new stake in Guidewire Software during the 1st quarter worth about $637,000. Finally, California State Teachers Retirement System raised its holdings in shares of Guidewire Software by 22.5% in the 1st quarter. California State Teachers Retirement System now owns 98,191 shares of the technology company’s stock valued at $14,685,000 after purchasing an additional 18,042 shares during the period.

Guidewire Software Company Profile

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.