Guidewire Software, Inc. (NYSE:GWRE – Get Free Report) shares were down 6.3% on Wednesday . The company traded as low as $132.08 and last traded at $133.5160. Approximately 648,250 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 1,651,158 shares. The stock had previously closed at $142.53.
Wall Street Analysts Forecast Growth
GWRE has been the topic of a number of research reports. 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. Guggenheim started coverage on Guidewire Software in a research note on Thursday. They set a “buy” rating and a $180.00 target price for the company. Royal Bank Of Canada dropped their price target on shares of Guidewire Software from $250.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Oppenheimer cut their price target on shares of Guidewire Software from $250.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, May 18th. Finally, The Goldman Sachs Group reduced their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.00.
Get Our Latest Stock Report on GWRE
Guidewire Software Stock Performance
Guidewire Software (NYSE:GWRE – Get Free Report) last issued its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The business had revenue of $372.54 million during the quarter, compared to the consensus estimate of $355.92 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The firm’s quarterly revenue was up 26.9% on a year-over-year basis. As a group, research analysts predict that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.
Insider Activity at Guidewire Software
In other news, President John P. Mullen sold 4,292 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $509,632.08. Following the completion of the sale, the president owned 131,115 shares in the company, valued at $15,568,595.10. This represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeffrey Elliott Cooper sold 1,348 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $105.67, for a total value of $142,443.16. Following the completion of the sale, the chief financial officer directly owned 62,119 shares of the company’s stock, valued at approximately $6,564,114.73. This trade represents a 2.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 30,193 shares of company stock worth $3,792,858. Insiders own 0.46% of the company’s stock.
Institutional Investors Weigh In On Guidewire Software
A number of institutional investors have recently bought and sold shares of GWRE. Geode Capital Management LLC grew its stake in Guidewire Software by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company’s stock valued at $357,504,000 after acquiring an additional 145,924 shares in the last quarter. Stockbridge Partners LLC grew its position in Guidewire Software by 39.0% during the fourth quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company’s stock valued at $290,501,000 after purchasing an additional 405,850 shares in the last quarter. AQR Capital Management LLC increased its stake in Guidewire Software by 3.6% in the 4th quarter. AQR Capital Management LLC now owns 1,316,817 shares of the technology company’s stock valued at $264,693,000 after buying an additional 45,289 shares during the period. Principal Financial Group Inc. lifted its position in Guidewire Software by 547.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock worth $176,537,000 after buying an additional 997,992 shares in the last quarter. Finally, Capital World Investors acquired a new stake in shares of Guidewire Software during the 4th quarter valued at $202,405,000.
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.
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