Guidewire Software, Inc. (NYSE:GWRE) CEO Sells $4,024,928.64 in Stock

Guidewire Software, Inc. (NYSE:GWRE) CEO Michael George Rosenbaum sold 23,379 shares of Guidewire Software stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $4,024,928.64. Following the sale, the chief executive officer now directly owns 287,662 shares in the company, valued at approximately $49,523,889.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Guidewire Software Stock Down 0.4 %

Shares of GWRE traded down $0.62 on Wednesday, reaching $172.41. The stock had a trading volume of 939,250 shares, compared to its average volume of 669,982. The firm has a 50-day moving average of $148.98 and a 200 day moving average of $130.69. The firm has a market capitalization of $14.25 billion, a PE ratio of -1,331.00 and a beta of 1.18. Guidewire Software, Inc. has a twelve month low of $85.15 and a twelve month high of $173.72.

Guidewire Software (NYSE:GWRE) last announced its earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.32%. The company had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. During the same quarter in the previous year, the business posted $0.30 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Guidewire Software, Inc. will post 0.49 earnings per share for the current fiscal year.

Institutional Trading of Guidewire Software

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Guidewire Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock worth $949,430,000 after acquiring an additional 67,439 shares during the period. Wasatch Advisors LP lifted its position in Guidewire Software by 4.2% during the first quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock worth $335,513,000 after buying an additional 115,600 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Guidewire Software by 23.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock worth $378,832,000 after buying an additional 516,942 shares during the last quarter. Linonia Partnership LP grew its holdings in Guidewire Software by 8.4% in the 2nd quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after buying an additional 185,077 shares during the period. Finally, Whale Rock Capital Management LLC grew its holdings in Guidewire Software by 23.4% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock valued at $148,323,000 after buying an additional 240,622 shares during the period.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Royal Bank of Canada boosted their target price on Guidewire Software from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. The Goldman Sachs Group raised their target price on Guidewire Software from $146.00 to $170.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Needham & Company LLC reissued a “hold” rating on shares of Guidewire Software in a research report on Friday, September 6th. DA Davidson reaffirmed a “buy” rating and set a $168.00 target price on shares of Guidewire Software in a research note on Friday, September 6th. Finally, Robert W. Baird boosted their price target on shares of Guidewire Software from $152.00 to $165.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Guidewire Software presently has an average rating of “Moderate Buy” and an average price target of $161.69.

About Guidewire Software

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.