Insider Selling: Guidewire Software (NYSE:GWRE) President Sells 4,292 Shares of Stock

Guidewire Software, Inc. (NYSE:GWRE) President John Mullen sold 4,292 shares of Guidewire Software stock in a transaction on 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 sale, the president directly owned 131,115 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Guidewire Software Trading Down 2.1%

Shares of NYSE GWRE traded down $2.53 during midday trading on Tuesday, hitting $117.50. The stock had a trading volume of 1,542,169 shares, compared to its average volume of 1,791,430. The company’s 50-day simple moving average is $136.21 and its 200 day simple moving average is $155.98. The firm has a market cap of $9.78 billion, a P/E ratio of 63.51 and a beta of 0.93. Guidewire Software, Inc. has a fifty-two week low of $113.67 and a fifty-two week high of $272.60. 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 (NYSE:GWRE) last announced its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The business had revenue of $372.54 million during the quarter, compared to analysts’ expectations of $355.92 million. During the same period in the previous year, the firm earned $0.88 earnings per share. The firm’s quarterly revenue was up 26.9% compared to the same quarter last year. Research analysts anticipate that Guidewire Software, Inc. will post 1.83 EPS for the current year.

Analysts Set New Price Targets

GWRE has been the subject of a number of analyst reports. Citizens Jmp decreased their price objective on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a research note on Friday, June 5th. The Goldman Sachs Group decreased their price objective on Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Royal Bank Of Canada decreased their price objective on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. Finally, Stifel Nicolaus reduced their target price on Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Eleven 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $229.00.

Institutional Investors Weigh In On Guidewire Software

Several institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its stake in shares of Guidewire Software by 4.6% in the third quarter. IFP Advisors Inc now owns 1,104 shares of the technology company’s stock valued at $254,000 after buying an additional 49 shares during the period. American Trust boosted its stake in shares of Guidewire Software by 3.9% in 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 period. Vident Advisory LLC boosted its stake in shares of Guidewire Software by 1.7% in the third quarter. Vident Advisory LLC now owns 4,074 shares of the technology company’s stock valued at $936,000 after buying an additional 70 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Guidewire Software by 18.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 505 shares of the technology company’s stock valued at $102,000 after buying an additional 78 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in shares of Guidewire Software by 0.9% in the third quarter. Quadrant Capital Group LLC now owns 8,897 shares of the technology company’s stock valued at $2,045,000 after buying an additional 79 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.