Guidewire Software (NYSE:GWRE) Reaches New 1-Year Low on Insider Selling

Guidewire Software, Inc. (NYSE:GWRE) shares reached a new 52-week low on Thursday following insider selling activity. The company traded as low as $164.32 and last traded at $164.47, with a volume of 298886 shares changing hands. The stock had previously closed at $170.85.

Specifically, CEO Michael George Rosenbaum sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $180.87, for a total transaction of $217,044.00. Following the sale, the chief executive officer directly owned 236,743 shares in the company, valued at approximately $42,819,706.41. The trade was a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Elliott Cooper sold 216 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $180.87, for a total value of $39,067.92. Following the completion of the transaction, the chief financial officer owned 72,753 shares in the company, valued at approximately $13,158,835.11. This represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Upgrades and Downgrades

GWRE has been the subject of several recent analyst reports. DA Davidson upgraded Guidewire Software from a “neutral” rating to a “buy” rating and increased their price target for the stock from $246.00 to $250.00 in a report on Wednesday, December 17th. Wall Street Zen lowered Guidewire Software from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Citizens Jmp restated a “market outperform” rating and set a $281.00 price objective on shares of Guidewire Software in a research report on Wednesday, December 10th. BTIG Research reissued a “buy” rating and set a $250.00 target price on shares of Guidewire Software in a report on Wednesday, December 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued 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 stock presently has an average rating of “Moderate Buy” and an average price target of $269.50.

Guidewire Software Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.48 and a current ratio of 3.48. The company has a market cap of $13.56 billion, a P/E ratio of 151.87, a P/E/G ratio of 10.82 and a beta of 1.08. The stock’s fifty day moving average price is $201.96 and its two-hundred day moving average price is $220.52.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.66. The business had revenue of $332.64 million for the quarter, compared to analysts’ expectations of $316.62 million. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period last 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 authorized a share repurchase plan on Thursday, January 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Guidewire Software

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new position in Guidewire Software during the 3rd quarter worth $51,967,000. Assenagon Asset Management S.A. boosted its holdings in Guidewire Software by 12.8% during the third quarter. Assenagon Asset Management S.A. now owns 150,957 shares of the technology company’s stock worth $34,699,000 after purchasing an additional 17,151 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Guidewire Software by 176.2% during the third quarter. Pacer Advisors Inc. now owns 11,215 shares of the technology company’s stock worth $2,578,000 after purchasing an additional 7,154 shares during the last quarter. CWM LLC grew its position in Guidewire Software by 43.8% in the 3rd quarter. CWM LLC now owns 31,772 shares of the technology company’s stock worth $7,303,000 after purchasing an additional 9,670 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Guidewire Software in the 2nd quarter valued at about $954,000.

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.