Key Points
- CFO Jeffrey Elliott Cooper sold 4,757 shares on March 13 at an average price of $158.72 for proceeds of $755,031.04, cutting his ownership by 6.54% to 67,996 shares (worth about $10.79M).
- Guidewire beat quarterly estimates, reporting $1.17 EPS vs. $0.77 expected and $359.1M in revenue (up 24% year-over-year), and its board authorized a $500 million buyback to repurchase up to ~3.1% of outstanding shares.
Guidewire Software, Inc. (NYSE:GWRE - Get Free Report) CFO Jeffrey Elliott Cooper sold 4,757 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $158.72, for a total transaction of $755,031.04. Following the completion of the transaction, the chief financial officer directly owned 67,996 shares of the company's stock, valued at $10,792,325.12. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Jeffrey Elliott Cooper also recently made the following trade(s):
- On Tuesday, January 13th, Jeffrey Elliott Cooper sold 216 shares of Guidewire Software stock. The stock was sold at an average price of $180.87, for a total transaction of $39,067.92.
- On Thursday, December 18th, Jeffrey Elliott Cooper sold 1,232 shares of Guidewire Software stock. The shares were sold at an average price of $195.00, for a total transaction of $240,240.00.
- On Tuesday, December 16th, Jeffrey Elliott Cooper sold 2,872 shares of Guidewire Software stock. The stock was sold at an average price of $192.08, for a total transaction of $551,653.76.
Guidewire Software Trading Up 1.9%
NYSE:GWRE opened at $160.56 on Friday. Guidewire Software, Inc. has a 12 month low of $120.37 and a 12 month high of $272.60. The firm has a fifty day simple moving average of $150.75 and a 200-day simple moving average of $199.05. The company has a current ratio of 2.93, a quick ratio of 3.48 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $13.59 billion, a P/E ratio of 72.98, a PEG ratio of 10.16 and a beta of 1.06.
Guidewire Software (NYSE:GWRE - Get Free Report) last announced its quarterly earnings data on Thursday, March 5th. The technology company reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.40. The firm had revenue of $359.10 million for the quarter, compared to analyst estimates of $342.88 million. Guidewire Software had a net margin of 14.11% and a return on equity of 13.44%. The business's quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. On average, equities research analysts anticipate that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.
Guidewire Software announced that its board has authorized a stock buyback plan on Thursday, January 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on GWRE shares. Wall Street Zen cut Guidewire Software from a "buy" rating to a "hold" rating in a research note on Friday, November 28th. Oppenheimer cut their price target on shares of Guidewire Software from $300.00 to $250.00 and set an "outperform" rating on the stock in a report on Tuesday, February 24th. Wells Fargo & Company reduced their price target on shares of Guidewire Software from $250.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, February 4th. Royal Bank Of Canada decreased their price objective on shares of Guidewire Software from $300.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, March 6th. Finally, BTIG Research upped their price objective on shares of Guidewire Software from $175.00 to $200.00 and gave the company a "buy" rating in a report on Friday, March 6th. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Guidewire Software currently has a consensus rating of "Moderate Buy" and an average target price of $249.85.
Check Out Our Latest Report on GWRE
Institutional Trading of Guidewire Software
A number of hedge funds have recently modified their holdings of GWRE. Advisors Asset Management Inc. acquired a new stake in Guidewire Software during the first quarter worth about $25,000. Root Financial Partners LLC acquired a new position in Guidewire Software in the third quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC acquired a new position in Guidewire Software in the third quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. purchased a new stake in Guidewire Software in the 2nd quarter worth approximately $30,000. Finally, Cornerstone Planning Group LLC boosted its position in Guidewire Software by 620.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 144 shares of the technology company's stock worth $34,000 after purchasing an additional 124 shares in the last quarter.
About Guidewire Software
(
Get Free Report)
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.
Further Reading
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