Guidewire Software (NYSE:GWRE) Reaches New 12-Month Low After Insider Selling

Guidewire Software, Inc. (NYSE:GWRE) reached a new 52-week low on Wednesday following insider selling activity. The company traded as low as $124.47 and last traded at $129.2130, with a volume of 3235207 shares traded. The stock had previously closed at $138.92.

Specifically, CEO Michael George Rosenbaum sold 1,200 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $140.01, for a total transaction of $168,012.00. Following the sale, the chief executive officer directly owned 233,143 shares in the company, valued at approximately $32,642,351.43. The trade was a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GWRE shares. BTIG Research reaffirmed a “buy” rating and set a $250.00 price target on shares of Guidewire Software in a research note on Tuesday, January 27th. Wells Fargo & Company dropped their target price on shares of Guidewire Software from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. DA Davidson upgraded shares of Guidewire Software from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $246.00 to $250.00 in a research report on Wednesday, December 17th. Citigroup upped their price target on shares of Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research note on Thursday, January 22nd. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $269.50.

Guidewire Software Stock Performance

The company has a market capitalization of $10.99 billion, a PE ratio of 123.06, a price-to-earnings-growth ratio of 9.05 and a beta of 1.06. The stock’s fifty day simple moving average is $186.75 and its 200-day simple moving average is $214.23. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.48 and a current ratio of 3.48.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The business had revenue of $332.64 million during the quarter, compared to the consensus estimate of $316.62 million. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The company’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 earnings per share. As a group, equities analysts predict that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Guidewire Software announced that its board has approved a stock buyback program on Thursday, January 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its position in Guidewire Software by 57.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 51,694 shares of the technology company’s stock valued at $11,735,000 after acquiring an additional 18,774 shares in the last quarter. Scalar Gauge Management LLC acquired a new position in shares of Guidewire Software during the third quarter worth $5,287,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Guidewire Software in the third quarter valued at $51,967,000. Y Intercept Hong Kong Ltd grew its holdings in Guidewire Software by 59.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 27,763 shares of the technology company’s stock valued at $6,382,000 after purchasing an additional 10,364 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Guidewire Software by 12.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 150,957 shares of the technology company’s stock worth $34,699,000 after buying an additional 17,151 shares during the period.

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.