Guidewire Software (NYSE:GWRE) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Guidewire Software (NYSE:GWRE) issued its earnings results on Thursday. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.79 by $0.03, FiscalAI reports. Guidewire Software had a return on equity of 13.44% and a net margin of 14.11%.The company had revenue of $372.54 million during the quarter, compared to the consensus estimate of $355.92 million.

Guidewire Software Price Performance

NYSE GWRE traded down $3.74 during midday trading on Thursday, hitting $151.27. The company had a trading volume of 2,675,123 shares, compared to its average volume of 1,578,012. The company has a market capitalization of $12.81 billion, a PE ratio of 68.76 and a beta of 0.93. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $140.32 and a 200-day moving average price of $161.58. Guidewire Software has a twelve month low of $115.57 and a twelve month high of $272.60.

Wall Street Analysts Forecast Growth

GWRE has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Guidewire Software from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Oppenheimer reduced their price target on Guidewire Software from $250.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, May 18th. Zacks Research downgraded Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. BTIG Research restated a “buy” rating and issued a $200.00 price target on shares of Guidewire Software in a research note on Tuesday. Finally, Stifel Nicolaus reduced their price target on Guidewire Software from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Guidewire Software presently has a consensus rating of “Moderate Buy” and an average price target of $251.50.

Insider Buying and Selling at Guidewire Software

In other news, CFO Jeffrey Elliott Cooper sold 4,757 shares of the business’s stock in a transaction on Friday, March 13th. The stock was 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 owned 67,996 shares of the company’s stock, valued at approximately $10,792,325.12. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael George Rosenbaum sold 4,737 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $163.86, for a total value of $776,204.82. Following the transaction, the chief executive officer directly owned 221,206 shares of the company’s stock, valued at $36,246,815.16. This trade represents a 2.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 33,679 shares of company stock valued at $5,214,878 in the last three months. Corporate insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new position in Guidewire Software in the 1st quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new position in Guidewire Software in the 3rd quarter worth about $29,000. Daiwa Securities Group Inc. acquired a new position in Guidewire Software in the 4th quarter worth about $76,000. Employees Retirement System of Texas increased its holdings in Guidewire Software by 26.4% in the 3rd quarter. Employees Retirement System of Texas now owns 781 shares of the technology company’s stock worth $180,000 after purchasing an additional 163 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Guidewire Software by 15.8% in the 4th quarter. UMB Bank n.a. now owns 990 shares of the technology company’s stock worth $199,000 after purchasing an additional 135 shares in the last quarter.

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.