Guidewire Software (NYSE:GWRE) Stock Price Down 5.4% Following Analyst Downgrade

Guidewire Software, Inc. (NYSE:GWRE) shares fell 5.4% during mid-day trading on Monday after DA Davidson lowered their price target on the stock from $246.00 to $222.00. DA Davidson currently has a buy rating on the stock. Guidewire Software traded as low as $128.10 and last traded at $128.7460. 310,370 shares were traded during trading, a decline of 81% from the average session volume of 1,599,491 shares. The stock had previously closed at $136.06.

A number of other analysts also recently commented on GWRE. Royal Bank Of Canada reduced their price objective on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday. BTIG Research restated a “buy” rating and issued a $200.00 target price on shares of Guidewire Software in a research note on Tuesday, June 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Guidewire Software in a research note on Wednesday. Oppenheimer reduced their target price on Guidewire Software from $250.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, May 18th. Finally, Zacks Research lowered shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Guidewire Software presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.00.

Insiders Place Their Bets

In other news, CEO Michael George Rosenbaum sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $158.92, for a total value of $190,704.00. Following the sale, the chief executive officer directly owned 208,006 shares in the company, valued at approximately $33,056,313.52. This represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,479 shares of company stock worth $5,015,270 over the last 90 days. 0.46% of the stock is currently owned by insiders.

Institutional Trading of Guidewire Software

Several institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc grew its position 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 during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Guidewire Software by 9.3% during the third quarter. Smartleaf Asset Management LLC now owns 624 shares of the technology company’s stock valued at $145,000 after acquiring an additional 53 shares during the period. American Trust lifted its holdings in shares of Guidewire Software by 3.9% during the third quarter. American Trust now owns 1,632 shares of the technology company’s stock valued at $375,000 after acquiring an additional 61 shares during the period. Vident Advisory LLC boosted its stake in shares of Guidewire Software by 1.7% in the 3rd quarter. Vident Advisory LLC now owns 4,074 shares of the technology company’s stock valued at $936,000 after purchasing an additional 70 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Guidewire Software by 18.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 505 shares of the technology company’s stock valued at $102,000 after purchasing an additional 78 shares in the last quarter.

Guidewire Software Trading Down 5.3%

The firm has a market cap of $10.90 billion, a P/E ratio of 69.57 and a beta of 0.93. The company has a current ratio of 2.44, a quick ratio of 2.93 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average price is $140.07 and its two-hundred day moving average price is $160.52.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. The firm 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 last year, the firm posted $0.88 EPS. As a group, sell-side analysts predict that Guidewire Software, Inc. will post 1.84 EPS for the current fiscal year.

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.