Guidewire Software (NYSE:GWRE) Stock Price Down 9.3% – Here’s Why

Shares of Guidewire Software, Inc. (NYSE:GWREGet Free Report) fell 9.3% during trading on Thursday . The company traded as low as $153.43 and last traded at $151.7030. Approximately 181,901 shares changed hands during trading, a decline of 89% from the average daily volume of 1,631,951 shares. The stock had previously closed at $167.26.

Analyst Upgrades and Downgrades

GWRE has been the subject of a number of research reports. Citizens Jmp cut their target price on shares of Guidewire Software from $300.00 to $220.00 and set a “market outperform” rating for the company in a research note on Friday, June 5th. JPMorgan Chase & Co. lowered their price target on shares of Guidewire Software from $300.00 to $258.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research report on Wednesday, June 3rd. The Goldman Sachs Group reduced their price objective on Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a report on Friday, June 5th. Finally, Stifel Nicolaus decreased their target price on Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $221.00.

Get Our Latest Report on GWRE

Guidewire Software Stock Performance

The stock’s 50-day simple moving average is $134.05 and its 200-day simple moving average is $140.80. The stock has a market cap of $12.67 billion, a price-to-earnings ratio of 82.51 and a beta of 0.95. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51.

Guidewire Software (NYSE:GWREGet Free Report) last released its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share 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 the consensus estimate of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The firm’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. Analysts forecast that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider James Winston King sold 1,684 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $130.64, for a total transaction of $219,997.76. Following the sale, the insider directly owned 30,018 shares of the company’s stock, valued at approximately $3,921,551.52. This represents a 5.31% 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 2,594 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $308,011.56. Following the completion of the transaction, the chief financial officer owned 63,467 shares in the company, valued at $7,536,071.58. The trade was a 3.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 30,193 shares of company stock worth $3,797,922 in the last quarter. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Several institutional investors and hedge funds have recently bought and sold shares of GWRE. Advisors Asset Management Inc. acquired a new stake in Guidewire Software during the first quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Guidewire Software in the 3rd quarter valued at approximately $29,000. Flagship Harbor Advisors LLC bought a new stake in shares of Guidewire Software during the 4th quarter worth approximately $36,000. Leonteq Securities AG bought a new stake in shares of Guidewire Software during the 1st quarter worth approximately $36,000. Finally, Bogart Wealth LLC boosted its position in shares of Guidewire Software by 127.8% during the 1st quarter. Bogart Wealth LLC now owns 246 shares of the technology company’s stock worth $37,000 after acquiring an additional 138 shares in the last quarter.

About Guidewire Software

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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.

Further Reading

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