Guidewire Software (NYSE:GWRE) President John Mullen Sells 5,400 Shares of Company Stock

Guidewire Software, Inc. (NYSE:GWRE) President John Mullen sold 5,400 shares of the stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $185.00, for a total transaction of $999,000.00. Following the sale, the president owned 178,247 shares in the company, valued at approximately $32,975,695. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Guidewire Software Stock Performance

Shares of NYSE GWRE opened at $184.08 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $167.07 and its two-hundred day moving average price is $148.06. Guidewire Software, Inc. has a 52-week low of $102.30 and a 52-week high of $255.89. The stock has a market capitalization of $15.33 billion, a P/E ratio of 112.93 and a beta of 1.02.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, September 3rd. The technology company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The company had revenue of $411.09 million during the quarter, compared to the consensus estimate of $402.61 million. Guidewire Software had a return on equity of 12.66% and a net margin of 9.44%. Guidewire Software’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 earnings per share. As a group, sell-side analysts forecast that Guidewire Software, Inc. will post 2.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GWRE shares. JPMorgan Chase & Co. reduced their price objective on Guidewire Software from $300.00 to $258.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Royal Bank Of Canada restated an “outperform” rating and set a $215.00 price objective on shares of Guidewire Software in a research note on Friday, September 4th. Wells Fargo & Company increased their target price on Guidewire Software from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Piper Sandler reiterated an “overweight” rating and issued a $210.00 target price on shares of Guidewire Software in a research note on Friday, September 4th. Finally, Citigroup raised their target price on Guidewire Software from $137.00 to $181.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $216.23.

Institutional Investors Weigh In On Guidewire Software

Large investors have recently made changes to their positions in the company. Bamco Inc. NY acquired a new position in shares of Guidewire Software during the second quarter worth approximately $1,106,768,000. Linonia Partnership LP bought a new position in Guidewire Software in the 2nd quarter worth approximately $853,165,000. Route One Investment Company L.P. bought a new position in Guidewire Software in the 2nd quarter worth approximately $227,564,000. Principal Financial Group Inc. increased its position in Guidewire Software by 547.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock valued at $176,537,000 after acquiring an additional 997,992 shares during the period. Finally, Van ECK Associates Corp acquired a new stake in Guidewire Software in the 2nd quarter valued at approximately $149,611,000.

About Guidewire Software

Guidewire Software, Inc provides cloud-based software designed for the property and casualty insurance industry. Its platform helps insurers manage core operations, including policy administration, billing, claims management, underwriting, and digital customer engagement.

The company’s principal offerings include InsuranceSuite, which incorporates PolicyCenter, BillingCenter, and ClaimCenter, as well as products for insurance data management, analytics, digital experiences, and application development.