Guidewire Software (NYSE:GWRE) Trading Down 6.4% on Insider Selling

Guidewire Software, Inc. (NYSE:GWRE) shares fell 6.4% during trading on Tuesday following insider selling activity. The stock 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.

Specifically, CEO Michael Rosenbaum sold 1,200 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $160.52, for a total transaction of $192,624.00. Following the completion of the sale, the chief executive officer owned 185,376 shares of the company’s stock, valued at $29,756,555.52. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

Several research firms recently commented on GWRE. Citigroup boosted their price objective on shares of Guidewire Software from $137.00 to $181.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. The Goldman Sachs Group dropped their price target on Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Guggenheim boosted their price target on Guidewire Software from $180.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a research report on Monday, August 31st. Finally, Citizens Jmp restated a “market outperform” rating and issued a $220.00 target price on shares of Guidewire Software in a research note on Friday, September 4th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $216.23.

Guidewire Software Stock Down 4.9%

The firm has a market cap of $11.86 billion, a P/E ratio of 87.37 and a beta of 0.97. The company has a quick ratio of 2.44, a current ratio of 1.79 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average of $162.72 and a 200-day moving average of $147.03.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, September 3rd. The technology company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The firm 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%.The business’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. On average, equities research analysts anticipate that Guidewire Software, Inc. will post 2.17 earnings per share for the current year.

Hedge Funds Weigh In On Guidewire Software

Institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in shares of Guidewire Software by 11,874.0% during the 2nd quarter. California State Teachers Retirement System now owns 11,757,428 shares of the technology company’s stock worth $1,446,752,000 after purchasing an additional 11,659,237 shares during the last quarter. Bamco Inc. NY acquired a new stake in Guidewire Software in the 2nd quarter valued at about $1,106,768,000. Linonia Partnership LP bought a new position in Guidewire Software during the second quarter worth about $853,165,000. Route One Investment Company L.P. acquired a new position in Guidewire Software during the second quarter worth approximately $227,564,000. Finally, Van ECK Associates Corp acquired a new position in Guidewire Software during the second quarter worth approximately $149,611,000.

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.