Insider Selling: Guidewire Software (NYSE:GWRE) President Sells $509,632.08 in Stock

Guidewire Software, Inc. (NYSE:GWRE) President John Mullen sold 4,292 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $509,632.08. Following the completion of the transaction, the president directly owned 131,115 shares in the company, valued at $15,568,595.10. This trade represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Guidewire Software Price Performance

Shares of NYSE GWRE opened at $107.64 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44. Guidewire Software, Inc. has a 1-year low of $106.40 and a 1-year high of $272.60. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of 58.19 and a beta of 0.93. The business has a 50-day moving average of $134.72 and a 200-day moving average of $154.50.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.74 by $0.08. The business had revenue of $372.54 million for the quarter, compared to the consensus estimate of $355.92 million. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The company’s revenue was up 26.9% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. On average, equities analysts anticipate that Guidewire Software, Inc. will post 1.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on GWRE. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research report on Wednesday, June 3rd. The Goldman Sachs Group lowered 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. Wells Fargo & Company dropped their price target on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Stifel Nicolaus cut their price objective on shares of Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, June 5th. 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 given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $229.00.

Institutional Investors Weigh In On Guidewire Software

A number of institutional investors have recently modified their holdings of the stock. Capital World Investors bought a new position in shares of Guidewire Software during the fourth quarter worth about $202,405,000. Principal Financial Group Inc. raised its stake in Guidewire Software by 547.3% during the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock valued at $176,537,000 after buying an additional 997,992 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Guidewire Software by 405.1% during the 2nd quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company’s stock worth $126,743,000 after buying an additional 431,725 shares during the last quarter. Stockbridge Partners LLC lifted its holdings in Guidewire Software by 39.0% during the 4th quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company’s stock worth $290,501,000 after buying an additional 405,850 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Guidewire Software by 179.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 628,759 shares of the technology company’s stock worth $94,037,000 after acquiring an additional 403,370 shares in the last quarter.

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.