Guidewire Software (NYSE:GWRE) CAO David Franklin Peterson Sells 246 Shares of Stock

Guidewire Software, Inc. (NYSE:GWRE) CAO David Franklin Peterson sold 246 shares of Guidewire Software stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $29,210.04. Following the completion of the sale, the chief accounting officer owned 12,287 shares in the company, valued at approximately $1,458,958.38. The trade was a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Guidewire Software Price Performance

NYSE:GWRE opened at $117.50 on Wednesday. The stock has a 50 day moving average of $136.21 and a two-hundred day moving average of $155.98. Guidewire Software, Inc. has a 12 month low of $113.67 and a 12 month high of $272.60. The firm has a market cap of $9.78 billion, a P/E ratio of 63.51 and a beta of 0.93. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The firm had revenue of $372.54 million for the quarter, compared to analyst estimates of $355.92 million. During the same period in the previous year, the company posted $0.88 earnings per share. The business’s revenue was up 26.9% on a year-over-year basis. On average, analysts expect that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd lifted its stake in shares of Guidewire Software by 901.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 9,110 shares of the technology company’s stock valued at $2,094,000 after purchasing an additional 8,200 shares during the period. Comerica Bank grew its holdings in Guidewire Software by 52.0% during the 4th quarter. Comerica Bank now owns 78,659 shares of the technology company’s stock valued at $15,811,000 after buying an additional 26,912 shares during the last quarter. BDF Gestion purchased a new stake in Guidewire Software during the 4th quarter worth about $1,803,000. American Century Companies Inc. raised its position in shares of Guidewire Software by 3.4% in the third quarter. American Century Companies Inc. now owns 520,390 shares of the technology company’s stock valued at $119,617,000 after buying an additional 17,104 shares during the last quarter. Finally, Fieldview Capital Management LLC purchased a new position in shares of Guidewire Software during the 3rd quarter worth $2,862,000.

Wall Street Analyst Weigh In

Several research firms have recently commented on GWRE. The Goldman Sachs Group reduced their price target on Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Wells Fargo & Company decreased their price target on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Oppenheimer lowered their price objective on shares of Guidewire Software from $250.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, May 18th. Royal Bank Of Canada lowered their target price on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Finally, Citizens Jmp reduced their price objective on shares of Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating on the stock in a report on Friday, June 5th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

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.