Guidewire Software (NYSE:GWRE) Trading Down 6.4% – What’s Next?

Shares of Guidewire Software, Inc. (NYSE:GWRE) dropped 6.4% during trading on Tuesday . The company traded as low as $152.49 and last traded at $152.0350. 475,939 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 1,579,951 shares. The stock had previously closed at $162.42.

Analyst Ratings Changes

A number of research analysts have issued reports on GWRE shares. DA Davidson reissued a “buy” rating and set a $222.00 target price on shares of Guidewire Software in a research note on Friday. Oppenheimer lifted their price target on Guidewire Software from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday. Citizens Jmp reiterated a “market outperform” rating and issued a $220.00 target price on shares of Guidewire Software in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 target price on shares of Guidewire Software in a report on Friday. Finally, Zacks Research downgraded shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $216.23.

Guidewire Software Trading Down 8.4%

The firm has a market cap of $12.39 billion, a price-to-earnings ratio of 90.91 and a beta of 0.97. The company has a current ratio of 1.79, a quick ratio of 2.44 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $161.89 and a 200 day moving average of $146.79.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings data on Thursday, September 3rd. The technology company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The firm had revenue of $411.09 million for the quarter, compared to analyst estimates of $402.61 million. Guidewire Software had a net margin of 9.44% and a return on equity of 12.66%. The company’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. As a group, research analysts anticipate that Guidewire Software, Inc. will post 2.15 EPS for the current year.

Insider Activity

In related news, President John P. Mullen sold 14,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $185.00, for a total value of $2,664,000.00. Following the completion of the transaction, the president directly owned 116,715 shares in the company, valued at approximately $21,592,275. The trade was a 10.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James King sold 1,684 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $130.64, for a total transaction of $219,997.76. Following the completion of the transaction, the insider owned 30,018 shares of the company’s stock, valued at $3,921,551.52. This trade represents a 5.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 45,893 shares of company stock valued at $7,023,158. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

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

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.