Insider Selling: Guidewire Software (NYSE:GWRE) CAO Sells $44,733.78 in Stock

Guidewire Software, Inc. (NYSE:GWRE) CAO David Franklin Peterson sold 273 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $163.86, for a total value of $44,733.78. Following the sale, the chief accounting officer directly owned 12,533 shares of the company’s stock, valued at $2,053,657.38. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Guidewire Software Stock Down 0.3%

Shares of GWRE opened at $155.55 on Friday. The company’s 50-day moving average price is $148.12 and its 200 day moving average price is $197.06. Guidewire Software, Inc. has a 12-month low of $120.37 and a 12-month high of $272.60. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 0.45. The firm has a market cap of $13.17 billion, a P/E ratio of 70.71, a price-to-earnings-growth ratio of 7.07 and a beta of 1.06.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, March 5th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.40. The company had revenue of $359.10 million during the quarter, compared to analyst estimates of $342.88 million. Guidewire Software had a net margin of 14.11% and a return on equity of 13.44%. Guidewire Software’s revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. On average, sell-side analysts forecast that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Guidewire Software declared that its board has authorized a share buyback program on Thursday, January 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Guidewire Software

A number of large investors have recently made changes to their positions in GWRE. Measured Wealth Private Client Group LLC acquired a new stake in Guidewire Software in the third quarter valued at approximately $29,000. Root Financial Partners LLC acquired a new position in Guidewire Software during the 3rd quarter worth approximately $29,000. Newbridge Financial Services Group Inc. acquired a new position in Guidewire Software during the 2nd quarter worth approximately $30,000. Advisors Asset Management Inc. purchased a new stake in shares of Guidewire Software in the 1st quarter valued at approximately $25,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Guidewire Software by 620.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 144 shares of the technology company’s stock valued at $34,000 after purchasing an additional 124 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GWRE shares. Zacks Research raised Guidewire Software from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 13th. Oppenheimer lowered their price target on Guidewire Software from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $281.00 price objective on shares of Guidewire Software in a research note on Wednesday, December 10th. DA Davidson reissued a “buy” rating and set a $246.00 target price on shares of Guidewire Software in a research note on Tuesday, March 10th. Finally, Wells Fargo & Company lowered their target price on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $249.85.

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.