John Mullen Sells 39,683 Shares of Guidewire Software (NYSE:GWRE) Stock

Guidewire Software, Inc. (NYSE:GWRE) President John Mullen sold 39,683 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $144.47, for a total value of $5,733,003.01. Following the sale, the president owned 183,647 shares of the company’s stock, valued at approximately $26,531,482.09. The trade was a 17.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Up 3.5%

Guidewire Software stock traded up $5.10 during midday trading on Monday, reaching $149.39. The stock had a trading volume of 990,880 shares, compared to its average volume of 1,595,100. Guidewire Software, Inc. has a twelve month low of $102.30 and a twelve month high of $255.89. The stock has a market capitalization of $12.44 billion, a PE ratio of 91.65 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.79 and a current ratio of 1.79. The stock’s 50-day simple moving average is $164.08 and its 200 day simple moving average is $147.50.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, September 3rd. The technology company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.93 by $0.06. The company had revenue of $411.09 million during the quarter, compared to analyst estimates of $402.61 million. Guidewire Software had a return on equity of 12.66% and a net margin of 9.44%.The firm’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. Analysts expect that Guidewire Software, Inc. will post 2.46 EPS for the current year.

Analyst Ratings Changes

GWRE has been the topic of several research reports. Robert W. Baird raised their price target on shares of Guidewire Software from $202.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, August 31st. Piper Sandler reiterated an “overweight” rating and set a $210.00 price objective on shares of Guidewire Software in a research note on Friday, September 4th. Guggenheim increased their price objective on shares of Guidewire Software from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. BTIG Research raised their target price on shares of Guidewire Software from $175.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Finally, Citizens Jmp restated a “market outperform” rating and set a $220.00 target price on shares of Guidewire Software in a report on Friday, September 4th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.23.

Hedge Funds Weigh In On Guidewire Software

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bamco Inc. NY acquired a new stake in Guidewire Software in the second quarter valued at approximately $1,106,768,000. Linonia Partnership LP acquired a new position in shares of Guidewire Software during the second quarter worth $853,165,000. Route One Investment Company L.P. acquired a new position in shares of Guidewire Software during the second quarter worth $227,564,000. Geode Capital Management LLC boosted its stake in shares of Guidewire Software by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company’s stock valued at $357,504,000 after purchasing an additional 145,924 shares during the period. Finally, Van ECK Associates Corp purchased a new position in shares of Guidewire Software in the second quarter valued at $149,611,000.

About Guidewire Software

Guidewire Software, Inc (NYSE: GWRE) provides cloud-based software and technology services for the property and casualty insurance industry. Its solutions help insurers manage core operations, modernize legacy systems, improve customer engagement and use data to support underwriting and claims decisions.

The company’s principal platform, InsuranceSuite, includes applications such as PolicyCenter for policy administration, BillingCenter for billing and payments, and ClaimCenter for claims management.