Guidewire Software (NYSE:GWRE) Releases Quarterly Earnings Results, Misses Estimates By $0.38 EPS

Guidewire Software (NYSE:GWRE) posted its quarterly earnings results on Thursday. The technology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.38), Zacks reports. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.

Guidewire Software Stock Performance

Shares of GWRE stock traded up $9.46 on Thursday, reaching $202.22. The stock had a trading volume of 1,975,953 shares, compared to its average volume of 1,567,772. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44. Guidewire Software has a 1 year low of $102.30 and a 1 year high of $272.60. The stock has a market cap of $16.84 billion, a P/E ratio of 109.31 and a beta of 0.96. The company has a 50 day simple moving average of $158.37 and a 200 day simple moving average of $145.73.

Insider Transactions at Guidewire Software

In other Guidewire Software news, insider James King sold 1,684 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $130.64, for a total value of $219,997.76. Following the transaction, the insider owned 30,018 shares of the company’s stock, valued at approximately $3,921,551.52. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO David Peterson sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $200.00, for a total value of $500,000.00. Following the completion of the transaction, the chief accounting officer directly owned 9,787 shares in the company, valued at $1,957,400. The trade was a 20.35% 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. Insiders have sold a total of 47,093 shares of company stock worth $7,185,902 in the last three months. 0.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Guidewire Software

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Zacks Research downgraded Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. The Goldman Sachs Group lowered their target price on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. 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 report on Friday, June 5th. JPMorgan Chase & Co. reduced their price target on shares of Guidewire Software from $300.00 to $258.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Finally, Robert W. Baird boosted their price objective on shares of Guidewire Software from $202.00 to $235.00 and gave the company an “outperform” rating in a report on Monday. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Guidewire Software has a consensus rating of “Moderate Buy” and an average price target of $223.93.

About Guidewire Software

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.