Insider Selling: Guidewire Software (NYSE:GWRE) CAO Sells $29,210.04 in Stock

Guidewire Software, Inc. (NYSE:GWRE) CAO David Franklin Peterson sold 246 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total transaction of $29,210.04. Following the sale, the chief accounting officer directly owned 12,287 shares in the company, valued at approximately $1,458,958.38. The trade was a 1.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Guidewire Software Price Performance

GWRE stock opened at $107.64 on Friday. Guidewire Software, Inc. has a 52 week low of $106.40 and a 52 week high of $272.60. The firm has a market capitalization of $8.96 billion, a P/E ratio of 58.19 and a beta of 0.93. The company has a fifty day simple moving average of $134.72 and a two-hundred day simple moving average of $154.50. 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 posted its earnings results 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 for the quarter, compared to the consensus estimate of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The business’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 EPS. Analysts anticipate that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.

Institutional Trading of Guidewire Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Guidewire Software by 1.3% during the third quarter. Vanguard Group Inc. now owns 9,039,377 shares of the technology company’s stock valued at $2,077,791,000 after buying an additional 116,726 shares during the period. Geode Capital Management LLC grew its stake in shares of Guidewire Software by 8.9% during 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 buying an additional 145,924 shares during the last quarter. Stockbridge Partners LLC raised its holdings in shares of Guidewire Software by 39.0% in the fourth 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 period. AQR Capital Management LLC raised its holdings in shares of Guidewire Software by 3.6% in the fourth quarter. AQR Capital Management LLC now owns 1,316,817 shares of the technology company’s stock worth $264,693,000 after buying an additional 45,289 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Guidewire Software by 547.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock worth $176,537,000 after acquiring an additional 997,992 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GWRE shares. Stifel Nicolaus reduced their price objective on Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. BTIG Research reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Guidewire Software in a research note on Tuesday, June 2nd. Royal Bank Of Canada dropped their target price on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research report on Wednesday, June 3rd. Finally, Wells Fargo & Company decreased their price target on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Guidewire Software currently has a consensus rating of “Moderate Buy” and an average price target of $229.00.

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.