James Winston King Sells 999 Shares of Guidewire Software (NYSE:GWRE) Stock

Guidewire Software, Inc. (NYSE:GWRE) insider James Winston King sold 999 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $118,621.26. Following the transaction, the insider owned 31,702 shares in the company, valued at approximately $3,764,295.48. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Guidewire Software Stock Performance

Shares of NYSE:GWRE traded down $2.53 during midday trading on Tuesday, hitting $117.50. The company’s stock had a trading volume of 1,542,169 shares, compared to its average volume of 1,791,430. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 63.51 and a beta of 0.93. The stock’s 50 day simple moving average is $136.21 and its 200 day simple moving average is $155.98. Guidewire Software, Inc. has a fifty-two week low of $113.67 and a fifty-two week high of $272.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. The company had revenue of $372.54 million for the quarter, compared to the consensus estimate of $355.92 million. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The firm’s revenue was up 26.9% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. As a group, research analysts anticipate that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Guidewire Software by 1.3% in the third quarter. Vanguard Group Inc. now owns 9,039,377 shares of the technology company’s stock valued at $2,077,791,000 after acquiring an additional 116,726 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Guidewire Software by 8.9% in the fourth 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 raised its stake in shares of Guidewire Software by 39.0% in the fourth quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company’s stock valued at $290,501,000 after acquiring an additional 405,850 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of 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 last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Guidewire Software by 547.3% in the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock valued at $176,537,000 after acquiring an additional 997,992 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. BTIG Research reissued a “buy” rating and set a $200.00 target price on shares of Guidewire Software in a research report on Tuesday, June 2nd. Wells Fargo & Company decreased their target price on Guidewire Software from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. The Goldman Sachs Group decreased their target price on Guidewire Software from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, June 5th. Royal Bank Of Canada decreased their target price on Guidewire Software from $250.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Finally, Zacks Research downgraded Guidewire Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.