Guidewire Software (NYSE:GWRE) Sets New 52-Week Low After Insider Selling

Shares of Guidewire Software, Inc. (NYSE:GWRE) reached a new 52-week low during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $164.32 and last traded at $164.47, with a volume of 298886 shares changing hands. The stock had previously closed at $170.85.

Specifically, CEO Michael George Rosenbaum sold 1,200 shares of the business’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $180.87, for a total transaction of $217,044.00. Following the transaction, the chief executive officer owned 236,743 shares of the company’s stock, valued at approximately $42,819,706.41. The trade was a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Elliott Cooper sold 216 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $180.87, for a total value of $39,067.92. Following the completion of the sale, the chief financial officer directly owned 72,753 shares of the company’s stock, valued at $13,158,835.11. This trade represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citizens Jmp reissued a “market outperform” rating and set a $281.00 price target on shares of Guidewire Software in a research report on Wednesday, December 10th. Zacks Research lowered shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, October 8th. BTIG Research reaffirmed a “buy” rating and set a $250.00 price target on shares of Guidewire Software in a research report on Wednesday, December 17th. Finally, Wall Street Zen lowered Guidewire Software from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $269.50.

Guidewire Software Trading Down 4.0%

The company has a market cap of $13.56 billion, a PE ratio of 151.87, a price-to-earnings-growth ratio of 10.82 and a beta of 1.08. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.44. The business has a 50-day simple moving average of $201.96 and a 200-day simple moving average of $220.52.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. The business had revenue of $332.64 million during the quarter, compared to analyst estimates of $316.62 million. Guidewire Software had a return on equity of 10.15% and a net margin of 7.23%.The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period last year, the business posted $0.43 earnings per share. On average, analysts predict that Guidewire Software, Inc. will post 0.52 EPS for the current fiscal year.

Guidewire Software declared that its board has authorized a stock repurchase plan on Thursday, January 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Guidewire Software

Hedge funds have recently made changes to their positions in the business. Qube Research & Technologies Ltd grew its holdings in shares of Guidewire Software by 3,636.9% in the second quarter. Qube Research & Technologies Ltd now owns 731,467 shares of the technology company’s stock valued at $172,224,000 after purchasing an additional 711,893 shares in the last quarter. Groupama Asset Managment grew its stake in shares of Guidewire Software by 240.0% in the second quarter. Groupama Asset Managment now owns 850,000 shares of the technology company’s stock worth $200,132,000 after acquiring an additional 600,000 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Guidewire Software by 405.1% during the second quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company’s stock worth $126,743,000 after acquiring an additional 431,725 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Guidewire Software by 112.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 479,859 shares of the technology company’s stock valued at $90,036,000 after acquiring an additional 254,142 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Guidewire Software by 2.4% in the second quarter. Vanguard Group Inc. now owns 8,922,651 shares of the technology company’s stock valued at $2,100,838,000 after purchasing an additional 211,047 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.