Guidewire Software (NYSE:GWRE) Trading Down 6.4% After Insider Selling

Guidewire Software, Inc. (NYSE:GWRE) traded down 6.4% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $152.49 and last traded at $152.0350. Approximately 475,939 shares were traded during trading, a decline of 70% from the average daily volume of 1,579,951 shares. The stock had previously closed at $162.42.

Specifically, CEO Michael Rosenbaum sold 1,200 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $160.52, for a total transaction of $192,624.00. Following the completion of the sale, the chief executive officer directly owned 185,376 shares of the company’s stock, valued at $29,756,555.52. This represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GWRE. DA Davidson restated a “buy” rating and issued a $222.00 target price on shares of Guidewire Software in a report on Friday, September 4th. Stifel Nicolaus lowered their price target on Guidewire Software from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Royal Bank Of Canada restated an “outperform” rating and set a $215.00 price target on shares of Guidewire Software in a report on Friday, September 4th. The Goldman Sachs Group reduced their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $220.00 target price on shares of Guidewire Software in a research report on Friday, September 4th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $216.23.

Guidewire Software Stock Performance

The stock’s 50-day moving average price is $162.72 and its 200 day moving average price is $147.03. The company has a quick ratio of 2.44, a current ratio of 1.79 and a debt-to-equity ratio of 0.57. The company has a market cap of $11.86 billion, a P/E ratio of 87.37 and a beta of 0.97.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings data on Thursday, September 3rd. The technology company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.06. The business had revenue of $411.09 million during the quarter, compared to the consensus estimate of $402.61 million. Guidewire Software had a net margin of 9.44% and a return on equity of 12.66%. Guidewire Software’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 EPS. As a group, research analysts expect that Guidewire Software, Inc. will post 2.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Guidewire Software

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. bought a new stake in Guidewire Software during the 1st quarter valued at approximately $25,000. Amundi grew its stake in shares of Guidewire Software by 703.0% in the second quarter. Amundi now owns 36,093 shares of the technology company’s stock worth $8,220,000 after acquiring an additional 31,598 shares during the last quarter. Jump Financial LLC bought a new position in Guidewire Software during the second quarter worth $305,000. Bank of Nova Scotia raised its stake in Guidewire Software by 30.9% during the 2nd quarter. Bank of Nova Scotia now owns 2,024 shares of the technology company’s stock valued at $477,000 after purchasing an additional 478 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in Guidewire Software by 30.6% during the 2nd quarter. NewEdge Advisors LLC now owns 4,911 shares of the technology company’s stock valued at $1,156,000 after purchasing an additional 1,152 shares during the last quarter.

About Guidewire Software

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.