John Mullen Sells 4,292 Shares of Guidewire Software (NYSE:GWRE) Stock

Guidewire Software, Inc. (NYSE:GWRE) President John Mullen sold 4,292 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $509,632.08. Following the sale, the president directly owned 131,115 shares of the company’s stock, valued at approximately $15,568,595.10. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Guidewire Software Trading Down 2.1%

Shares of NYSE GWRE traded down $2.53 during mid-day trading on Tuesday, hitting $117.50. 1,542,169 shares of the company traded hands, compared to its average volume of 1,791,430. Guidewire Software, Inc. has a 1 year low of $113.67 and a 1 year high of $272.60. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 63.51 and a beta of 0.93. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $136.21 and a two-hundred day moving average of $155.98.

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

Wall Street Analyst Weigh In

A number of analysts have commented on GWRE shares. Citizens Jmp reduced their price objective on Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a research report on Friday, June 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a research report on Wednesday, June 3rd. Royal Bank Of Canada reduced their price objective on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Zacks Research downgraded Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Wells Fargo & Company cut their target price on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.00.

Institutional Investors Weigh In On Guidewire Software

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. IFP Advisors Inc increased its holdings in Guidewire Software by 4.6% during the 3rd quarter. IFP Advisors Inc now owns 1,104 shares of the technology company’s stock valued at $254,000 after purchasing an additional 49 shares in the last quarter. American Trust increased its holdings in Guidewire Software by 3.9% during the 3rd quarter. American Trust now owns 1,632 shares of the technology company’s stock valued at $375,000 after purchasing an additional 61 shares in the last quarter. Vident Advisory LLC increased its holdings in Guidewire Software by 1.7% during the 3rd quarter. Vident Advisory LLC now owns 4,074 shares of the technology company’s stock valued at $936,000 after purchasing an additional 70 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Guidewire Software by 18.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 505 shares of the technology company’s stock valued at $102,000 after purchasing an additional 78 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Guidewire Software by 0.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 8,897 shares of the technology company’s stock valued at $2,045,000 after buying an additional 79 shares during the period.

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.