David Franklin Peterson Sells 246 Shares of Guidewire Software (NYSE:GWRE) Stock

Guidewire Software, Inc. (NYSE:GWRE) CAO David Franklin Peterson sold 246 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $29,210.04. Following the sale, the chief accounting officer owned 12,287 shares in the company, valued at approximately $1,458,958.38. The trade was a 1.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 Stock Down 2.1%

GWRE traded down $2.53 during midday trading on Tuesday, hitting $117.50. 1,542,169 shares of the company’s stock traded hands, compared to its average volume of 1,791,430. The company has a market cap of $9.78 billion, a PE ratio of 63.51 and a beta of 0.93. The stock’s fifty day simple moving average is $136.21 and its 200-day simple moving average is $155.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 2.44. Guidewire Software, Inc. has a one year low of $113.67 and a one year high of $272.60.

Guidewire Software (NYSE:GWRE) 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. The firm had revenue of $372.54 million for the quarter, compared to analyst estimates of $355.92 million. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The company’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. As a group, equities analysts anticipate that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Guidewire Software

Several institutional investors have recently modified their holdings of the business. Empowered Funds LLC lifted its holdings in shares of Guidewire Software by 239.1% during the 1st quarter. Empowered Funds LLC now owns 7,538 shares of the technology company’s stock valued at $1,127,000 after purchasing an additional 5,315 shares in the last quarter. Parallel Advisors LLC raised its position in Guidewire Software by 44.7% in the 1st quarter. Parallel Advisors LLC now owns 4,561 shares of the technology company’s stock valued at $682,000 after buying an additional 1,409 shares during the last quarter. Glenmede Trust Co. NA raised its position in Guidewire Software by 35.5% in the 1st quarter. Glenmede Trust Co. NA now owns 2,030 shares of the technology company’s stock valued at $304,000 after buying an additional 532 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Guidewire Software in the 1st quarter valued at approximately $637,000. Finally, California State Teachers Retirement System raised its position in Guidewire Software by 22.5% in the 1st quarter. California State Teachers Retirement System now owns 98,191 shares of the technology company’s stock valued at $14,685,000 after buying an additional 18,042 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research report on Wednesday, June 3rd. 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, June 5th. Oppenheimer reduced their price objective 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. The Goldman Sachs Group lowered their price objective on Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Finally, Zacks Research cut Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and a consensus target price of $229.00.

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.