Guidewire Software (NYSE:GWRE) Announces Earnings Results

Guidewire Software (NYSE:GWRE) posted its quarterly earnings data on Thursday. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03, FiscalAI reports. Guidewire Software had a net margin of 14.11% and a return on equity of 13.44%. The business had revenue of $372.54 million for the quarter, compared to analysts’ expectations of $355.92 million.

Guidewire Software Trading Down 2.4%

Shares of GWRE traded down $3.74 during trading hours on Thursday, reaching $151.27. 2,844,769 shares of the company traded hands, compared to its average volume of 1,584,460. The firm has a market cap of $12.81 billion, a price-to-earnings ratio of 68.76 and a beta of 0.93. Guidewire Software has a 12-month low of $115.57 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 stock’s fifty day moving average price is $140.32 and its 200 day moving average price is $161.58.

Analysts Set New Price Targets

A number of research firms have weighed in on GWRE. Stifel Nicolaus cut their price objective on shares of Guidewire Software from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. DA Davidson reiterated a “buy” rating and set a $246.00 price objective on shares of Guidewire Software in a research report on Tuesday. Oppenheimer cut their price objective on shares of Guidewire Software from $250.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, May 18th. Wells Fargo & Company cut their price objective on shares of Guidewire Software from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. Finally, Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $251.50.

Insider Activity

In other news, CEO Michael George Rosenbaum sold 1,200 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $158.92, for a total transaction of $190,704.00. Following the completion of the sale, the chief executive officer directly owned 208,006 shares of the company’s stock, valued at approximately $33,056,313.52. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,679 shares of company stock worth $5,214,878 over the last ninety days. 0.46% of the stock is currently owned by insiders.

Institutional Trading of Guidewire Software

A number of large investors have recently made changes to their positions in GWRE. Advisors Asset Management Inc. purchased a new stake in shares of Guidewire Software during the first quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Guidewire Software during the third quarter valued at $29,000. Daiwa Securities Group Inc. purchased a new stake in shares of Guidewire Software during the fourth quarter valued at $76,000. Employees Retirement System of Texas boosted its stake in shares of Guidewire Software by 26.4% during the third quarter. Employees Retirement System of Texas now owns 781 shares of the technology company’s stock valued at $180,000 after purchasing an additional 163 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Guidewire Software by 15.8% during the fourth quarter. UMB Bank n.a. now owns 990 shares of the technology company’s stock valued at $199,000 after purchasing an additional 135 shares during the period.

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.