Guidewire Software (NYSE:GWRE) Hits New 1-Year Low – Here’s What Happened

Guidewire Software, Inc. (NYSE:GWRE)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $113.67 and last traded at $118.4550, with a volume of 97370 shares. The stock had previously closed at $116.59.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Oppenheimer dropped their price objective on shares of Guidewire Software from $250.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, May 18th. Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Royal Bank Of Canada lowered their target price on shares of Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. BTIG Research reissued a “buy” rating and issued a $200.00 target price on shares of Guidewire Software in a report on Tuesday, June 2nd. Finally, DA Davidson cut their price target on Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $229.00.

Guidewire Software Stock Performance

The firm’s fifty day moving average price is $137.49 and its 200-day moving average price is $157.71. The company has a current ratio of 2.44, a quick ratio of 2.93 and a debt-to-equity ratio of 0.51. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of 66.36 and a beta of 0.93.

Guidewire Software (NYSE:GWRE) last announced 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 net margin of 11.25% and a return on equity of 12.62%. The firm had revenue of $372.54 million for the quarter, compared to analyst estimates of $355.92 million. During the same period last year, the business earned $0.88 EPS. Guidewire Software’s revenue for the quarter was up 26.9% compared to the same quarter last year. Analysts expect that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

Insider Activity at Guidewire Software

In related news, CEO Michael George Rosenbaum sold 1,200 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $135.62, for a total value of $162,744.00. Following the completion of the sale, the chief executive officer directly owned 206,806 shares of the company’s stock, valued at $28,047,029.72. This represents a 0.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,922 shares of company stock worth $4,422,983 in the last 90 days. 0.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Guidewire Software

Several large investors have recently modified their holdings of GWRE. Measured Wealth Private Client Group LLC purchased a new position in shares of Guidewire Software during the third quarter worth approximately $29,000. Advisors Asset Management Inc. purchased a new stake in Guidewire Software in the 1st quarter valued at $25,000. Flagship Harbor Advisors LLC acquired a new stake in Guidewire Software during the 4th quarter worth $36,000. Leonteq Securities AG acquired a new stake in Guidewire Software during the 1st quarter worth $36,000. Finally, Bogart Wealth LLC grew its position in Guidewire Software by 127.8% during the 1st quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock worth $37,000 after purchasing an additional 138 shares during the last quarter.

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.