Guidewire Software, Inc. (NYSE:GWRE) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of ($0.17)-($0.14) for the period, compared to the Thomson Reuters consensus estimate of $0.04. The company issued revenue guidance of $98-$102 million, compared to the consensus revenue estimate of $112.86 million.Guidewire Software also updated its FY18 guidance to $0.97-$1.08 EPS.

Guidewire Software, Inc. (GWRE) traded down 2.72% during trading on Wednesday, hitting $73.23. 979,066 shares of the stock were exchanged. Guidewire Software, Inc. has a one year low of $49.18 and a one year high of $76.21. The stock’s 50 day moving average is $71.82 and its 200-day moving average is $64.67. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 534.53 and a beta of 1.24.

GWRE has been the subject of a number of recent analyst reports. Zacks Investment Research raised Guidewire Software from a hold rating to a buy rating and set a $78.00 price objective for the company in a research report on Wednesday, July 12th. UBS AG increased their target price on Guidewire Software from $72.00 to $77.00 and gave the stock a buy rating in a research note on Friday, June 2nd. BidaskClub lowered Guidewire Software from a strong-buy rating to a buy rating in a research note on Friday, August 11th. KeyCorp reiterated a buy rating and set a $75.00 target price on shares of Guidewire Software in a research note on Friday, August 25th. Finally, Piper Jaffray Companies reiterated a buy rating and set a $80.00 target price on shares of Guidewire Software in a research note on Sunday, August 27th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $75.78.

In other Guidewire Software news, insider Scott Roza sold 780 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $66.56, for a total transaction of $51,916.80. Following the transaction, the insider now owns 5,740 shares in the company, valued at approximately $382,054.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Marcus Ryu sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $72.34, for a total value of $1,808,500.00. Following the transaction, the chief executive officer now owns 164,139 shares in the company, valued at approximately $11,873,815.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,577 shares of company stock worth $7,486,697. 0.96% of the stock is owned by corporate insiders.

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A hedge fund recently raised its stake in Guidewire Software stock. The Manufacturers Life Insurance Company boosted its stake in shares of Guidewire Software, Inc. (NYSE:GWRE) by 7.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,205 shares of the technology company’s stock after acquiring an additional 150 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Guidewire Software were worth $151,000 at the end of the most recent reporting period.

About Guidewire Software

Guidewire Software, Inc is a provider of software products for property and casualty (P&C) insurers. The Company’s software serves as a technology platform for P&C insurance carriers. The Company’s InsurancePlatform consists of three elements: core transaction processing, data management and analytics, and digital engagement.

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