Guidewire Software (NYSE:GWRE) President John Mullen Sells 14,400 Shares of Stock

Guidewire Software, Inc. (NYSE:GWRE) President John Mullen sold 14,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $185.00, for a total value of $2,664,000.00. Following the transaction, the president owned 116,715 shares of the company’s stock, valued at $21,592,275. This trade represents a 10.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Guidewire Software Trading Up 0.5%

Shares of NYSE GWRE opened at $182.11 on Friday. Guidewire Software, Inc. has a fifty-two week low of $102.30 and a fifty-two week high of $272.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44. The company has a market cap of $15.16 billion, a price-to-earnings ratio of 98.44 and a beta of 0.92. The business’s 50 day moving average price is $143.28 and its 200-day moving average price is $141.54.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. BTIG Research reissued a “buy” rating and issued a $175.00 price objective on shares of Guidewire Software in a research note on Thursday, July 2nd. Citizens Jmp decreased their target price 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. Stifel Nicolaus lowered their target price on Guidewire Software from $225.00 to $200.00 and set a “buy” rating for the company in a 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, Piper Sandler assumed coverage on Guidewire Software in a research note on Monday, August 10th. They set an “overweight” rating and a $210.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and a consensus target price of $221.64.

Hedge Funds Weigh In On Guidewire Software

Several institutional investors have recently bought and sold shares of the business. Oakcliff Capital Partners LP lifted its holdings in Guidewire Software by 10.1% during the second quarter. Oakcliff Capital Partners LP now owns 158,683 shares of the technology company’s stock worth $19,526,000 after buying an additional 14,500 shares during the period. Two Sigma Securities LLC purchased a new position in shares of Guidewire Software in the 2nd quarter valued at $496,000. Flputnam Investment Management Co. bought a new position in shares of Guidewire Software in the 2nd quarter worth $54,000. Thornburg Investment Management Inc. raised its position in shares of Guidewire Software by 251.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 20,677 shares of the technology company’s stock worth $2,544,000 after acquiring an additional 14,786 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in shares of Guidewire Software during the 2nd quarter worth $149,611,000.

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.