Guidewire Software (NYSE:GWRE) Shares Down 4.8% Following Insider Selling

Guidewire Software, Inc. (NYSE:GWRE) dropped 4.8% during trading on Wednesday following insider selling activity. The stock traded as low as $191.55 and last traded at $191.3610. 582,507 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 1,558,435 shares. The stock had previously closed at $201.09.

Specifically, CEO Michael George Rosenbaum sold 1,200 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $204.44, for a total value of $245,328.00. Following the completion of the sale, the chief executive officer owned 186,576 shares of the company’s stock, valued at $38,143,597.44. This trade represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO David Franklin Peterson sold 2,500 shares of Guidewire Software stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $200.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief accounting officer owned 9,787 shares in the company, valued at approximately $1,957,400. This trade represents a 20.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citizens Jmp decreased their price objective on shares of Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a report on Friday, June 5th. Guggenheim lifted their target price on shares of Guidewire Software from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research note on Monday. Finally, Piper Sandler began coverage on shares of Guidewire Software in a report on Monday, August 10th. They issued an “overweight” rating and a $210.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and a consensus target price of $223.93.

Guidewire Software Trading Down 5.3%

The stock has a 50-day moving average of $156.74 and a two-hundred day moving average of $145.25. The company has a market cap of $15.86 billion, a P/E ratio of 102.98 and a beta of 0.96. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44.

Guidewire Software (NYSE:GWRE) last released its 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 business had revenue of $372.54 million for the quarter, compared to the consensus estimate of $355.92 million. During the same period in the previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year. On average, equities research analysts predict that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On Guidewire Software

A number of hedge funds have recently bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Guidewire Software in the 2nd quarter worth about $1,116,000. Vancity Investment Management Ltd increased its stake in Guidewire Software by 24.0% during the 2nd quarter. Vancity Investment Management Ltd now owns 8,525 shares of the technology company’s stock valued at $1,049,000 after purchasing an additional 1,651 shares in the last quarter. California State Teachers Retirement System raised its holdings in Guidewire Software by 11,874.0% in the second quarter. California State Teachers Retirement System now owns 11,757,428 shares of the technology company’s stock worth $1,446,752,000 after buying an additional 11,659,237 shares during the last quarter. Angeles Wealth Management LLC raised its holdings in Guidewire Software by 5.1% in the second quarter. Angeles Wealth Management LLC now owns 2,761 shares of the technology company’s stock worth $340,000 after buying an additional 135 shares during the last quarter. Finally, AlphaGrep UK Ltd bought a new position in shares of Guidewire Software in the second quarter worth approximately $495,000.

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.