Guidewire Software (NYSE:GWRE) Shares Down 4.8% – Here’s Why

Shares of Guidewire Software, Inc. (NYSE:GWRE) fell 4.8% during trading on Friday . The company traded as low as $174.01 and last traded at $173.7660. Approximately 114,753 shares were traded during trading, a decline of 93% from the average session volume of 1,594,957 shares. The stock had previously closed at $182.62.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GWRE shares. Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Citizens Jmp lowered their target price on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a research report on Friday, June 5th. DA Davidson cut their price target on Guidewire Software from $246.00 to $222.00 and set a “buy” rating for the company in a report on Monday, June 8th. Wells Fargo & Company decreased their price objective on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Finally, Piper Sandler started coverage on Guidewire Software in a research note on Monday. They set an “overweight” rating and a $210.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Guidewire Software has a consensus rating of “Moderate Buy” and a consensus target price of $220.21.

Guidewire Software Trading Down 3.9%

The stock has a fifty day simple moving average of $137.99 and a 200 day simple moving average of $140.72. The firm has a market capitalization of $14.61 billion, a P/E ratio of 94.81 and a beta of 0.92. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51.

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

Insider Activity at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 1,200 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $169.50, for a total transaction of $203,400.00. Following the completion of the transaction, the chief executive officer owned 190,176 shares in the company, valued at approximately $32,234,832. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Winston King sold 1,684 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $130.64, for a total transaction of $219,997.76. Following the transaction, the insider directly owned 30,018 shares of the company’s stock, valued at $3,921,551.52. The trade was a 5.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 30,193 shares of company stock valued at $3,854,478. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Several large investors have recently made changes to their positions in GWRE. American Trust boosted its stake in Guidewire Software by 3.9% during the third quarter. American Trust now owns 1,632 shares of the technology company’s stock valued at $375,000 after buying an additional 61 shares during the last quarter. Vident Advisory LLC increased its stake in Guidewire Software by 1.7% in the 3rd quarter. Vident Advisory LLC now owns 4,074 shares of the technology company’s stock worth $936,000 after acquiring an additional 70 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Guidewire Software by 18.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 505 shares of the technology company’s stock worth $102,000 after acquiring an additional 78 shares in the last quarter. Castleark Management LLC boosted its position in shares of Guidewire Software by 1.6% during the 1st quarter. Castleark Management LLC now owns 5,180 shares of the technology company’s stock valued at $775,000 after acquiring an additional 80 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC boosted its position in shares of Guidewire Software by 9.9% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 1,085 shares of the technology company’s stock valued at $218,000 after acquiring an additional 98 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.