Guidewire Software (NYSE:GWRE) Reaches New 52-Week Low Following Insider Selling

Guidewire Software, Inc. (NYSE:GWRE)’s share price hit a new 52-week low on Wednesday after an insider sold shares in the company. The stock 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 value of $168,012.00. Following the sale, the chief executive officer owned 233,143 shares in the company, valued at approximately $32,642,351.43. The trade was a 0.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GWRE. Wells Fargo & Company lowered their target price on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday. Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Citizens Jmp restated a “market outperform” rating and issued a $281.00 price objective on shares of Guidewire Software in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Guidewire Software in a research note on Thursday, January 22nd. Finally, DA Davidson upgraded shares of Guidewire Software from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $246.00 to $250.00 in a research note on Wednesday, December 17th. Twelve research 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $266.64.

Guidewire Software Trading Up 1.8%

The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 125.73, a P/E/G ratio of 8.45 and a beta of 1.06. The business’s 50 day moving average is $185.11 and its 200 day moving average is $213.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.48 and a quick ratio of 3.48.

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

Guidewire Software announced that its Board of Directors has authorized a stock repurchase program on Thursday, January 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Guidewire Software

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted its stake in Guidewire Software by 4.6% in the third quarter. IFP Advisors Inc now owns 1,104 shares of the technology company’s stock valued at $254,000 after acquiring an additional 49 shares in the last quarter. Earned Wealth Advisors LLC increased its position in shares of Guidewire Software by 5.4% during the third quarter. Earned Wealth Advisors LLC now owns 989 shares of the technology company’s stock worth $227,000 after purchasing an additional 51 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Guidewire Software by 9.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 624 shares of the technology company’s stock valued at $145,000 after purchasing an additional 53 shares during the last quarter. PDS Planning Inc boosted its position in shares of Guidewire Software by 6.4% in the 3rd quarter. PDS Planning Inc now owns 911 shares of the technology company’s stock valued at $209,000 after purchasing an additional 55 shares during the period. Finally, American Trust grew its stake in Guidewire Software by 3.9% during the 3rd quarter. American Trust now owns 1,632 shares of the technology company’s stock worth $375,000 after buying an additional 61 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.