Guidewire Software (NYSE:GWRE) Insider Sells $118,621.26 in Stock

Guidewire Software, Inc. (NYSE:GWRE) insider James Winston King sold 999 shares of the business’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 $118,621.26. Following the completion of the sale, the insider directly owned 31,702 shares of the company’s stock, valued at $3,764,295.48. The trade was a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Guidewire Software Trading Down 3.2%

NYSE:GWRE opened at $107.64 on Friday. The stock’s 50 day moving average price is $134.72 and its 200 day moving average price is $154.50. The company has a market capitalization of $8.96 billion, a PE ratio of 58.19 and a beta of 0.93. 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, Inc. has a 52-week low of $106.40 and a 52-week high of $272.60.

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

Hedge Funds Weigh In On Guidewire Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC purchased a new position in shares of Guidewire Software during the 3rd quarter worth approximately $29,000. Advisors Asset Management Inc. acquired a new stake in shares of Guidewire Software in the 1st quarter valued at approximately $25,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Guidewire Software in the fourth quarter valued at approximately $36,000. Leonteq Securities AG purchased a new stake in shares of Guidewire Software in the first quarter valued at approximately $36,000. Finally, Bogart Wealth LLC boosted its stake in shares of Guidewire Software by 127.8% in the first quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock valued at $37,000 after buying an additional 138 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GWRE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. Wells Fargo & Company decreased their price target on shares of Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Citizens Jmp lowered their price objective on shares of 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 dropped their price objective on shares of Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Finally, Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $229.00.

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.