Guidewire Software (NYSE:GWRE) Hits New 12-Month Low on Insider Selling

Guidewire Software, Inc. (NYSE:GWRE)’s share price reached a new 52-week low during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $102.30 and last traded at $102.67, with a volume of 2057619 shares trading hands. The stock had previously closed at $107.86.

Specifically, CEO Michael George Rosenbaum sold 1,200 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $105.67, for a total value of $126,804.00. Following the completion of the sale, the chief executive officer owned 198,576 shares in the company, valued at approximately $20,983,525.92. The trade was a 0.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey Elliott Cooper sold 1,348 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $105.67, for a total transaction of $142,443.16. Following the transaction, the chief financial officer owned 62,119 shares in the company, valued at approximately $6,564,114.73. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

GWRE has been the topic of several research reports. DA Davidson cut their price objective on shares of Guidewire Software from $246.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a research report on Wednesday, June 3rd. Wells Fargo & Company cut their price target on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Oppenheimer reduced their price target on Guidewire Software from $250.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, May 18th. Finally, Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

Guidewire Software Stock Performance

The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51. The stock has a market cap of $8.55 billion, a PE ratio of 55.50 and a beta of 0.93. The business’s 50-day moving average price is $133.69 and its 200-day moving average price is $152.97.

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

Hedge Funds Weigh In On Guidewire Software

Large investors have recently made changes to their positions in the business. Advisors Asset Management Inc. purchased a new position in Guidewire Software during the 1st quarter worth $25,000. Amundi boosted its holdings in Guidewire Software by 703.0% in the second quarter. Amundi now owns 36,093 shares of the technology company’s stock worth $8,220,000 after acquiring an additional 31,598 shares in the last quarter. Jump Financial LLC acquired a new stake in Guidewire Software in the second quarter worth about $305,000. Bank of Nova Scotia grew its stake in shares of Guidewire Software by 30.9% during the second quarter. Bank of Nova Scotia now owns 2,024 shares of the technology company’s stock worth $477,000 after acquiring an additional 478 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Guidewire Software by 30.6% during the second quarter. NewEdge Advisors LLC now owns 4,911 shares of the technology company’s stock worth $1,156,000 after acquiring an additional 1,152 shares during the last quarter.

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.