Key Points
- Guidewire Software CFO Jeffrey Elliott Cooper sold 2,594 shares on June 16 at an average price of $118.74, totaling about $308,012. The sale reduced his ownership by 3.93% and was made to cover tax withholding tied to vested equity awards.
- The company recently reported better-than-expected quarterly results, with EPS of $0.82 versus estimates of $0.74 and revenue of $372.54 million, up 26.9% year over year.
- Despite solid earnings, analysts remain mixed: the stock has a Moderate Buy consensus with an average price target of $229, though some firms have recently lowered targets and one downgraded the stock to hold.
Guidewire Software, Inc. (NYSE:GWRE - Get Free Report) CAO David Franklin Peterson sold 246 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total transaction of $29,210.04. Following the transaction, the chief accounting officer directly owned 12,287 shares in the company, valued at $1,458,958.38. The trade was a 1.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Guidewire Software Trading Down 2.1%
Shares of NYSE GWRE opened at $117.50 on Wednesday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51. Guidewire Software, Inc. has a 12-month low of $113.67 and a 12-month high of $272.60. The stock's 50 day simple moving average is $136.21 and its 200 day simple moving average is $155.98. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 63.51 and a beta of 0.93.
Guidewire Software (NYSE:GWRE - Get Free Report) last issued its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The firm had revenue of $372.54 million for the quarter, compared to the consensus estimate of $355.92 million. During the same period last year, the firm posted $0.88 EPS. Guidewire Software's quarterly revenue was up 26.9% compared to the same quarter last year. Equities research analysts expect that Guidewire Software, Inc. will post 1.83 EPS for the current year.
Hedge Funds Weigh In On Guidewire Software
A number of institutional investors and hedge funds have recently bought and sold shares of GWRE. Vanguard Group Inc. grew its holdings in Guidewire Software by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 9,039,377 shares of the technology company's stock worth $2,077,791,000 after acquiring an additional 116,726 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Guidewire Software by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company's stock valued at $357,504,000 after acquiring an additional 145,924 shares during the last quarter. Stockbridge Partners LLC increased its position in shares of Guidewire Software by 39.0% in the 4th quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company's stock valued at $290,501,000 after buying an additional 405,850 shares in the last quarter. AQR Capital Management LLC grew its stake in Guidewire Software by 3.6% in the fourth quarter. AQR Capital Management LLC now owns 1,316,817 shares of the technology company's stock valued at $264,693,000 after acquiring an additional 45,289 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Guidewire Software by 547.3% during the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company's stock worth $176,537,000 after purchasing an additional 997,992 shares during the period.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on GWRE. Stifel Nicolaus dropped their price objective on Guidewire Software from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, June 5th. Royal Bank Of Canada cut their target price on shares of Guidewire Software from $250.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, June 5th. The Goldman Sachs Group lowered their price target on shares of Guidewire Software from $255.00 to $225.00 and set a "buy" rating on the stock in a report on Friday, June 5th. Weiss Ratings reissued a "hold (c)" rating on shares of Guidewire Software in a research report on Wednesday, June 3rd. Finally, DA Davidson cut their price objective on shares of Guidewire Software from $246.00 to $222.00 and set a "buy" rating for the company in a research report on Monday, June 8th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Guidewire Software has an average rating of "Moderate Buy" and a consensus price target of $229.00.
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Guidewire Software Company Profile
(
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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.
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