John Mullen Sells 39,683 Shares of Guidewire Software (NYSE:GWRE) Stock

by · The Markets Daily

Guidewire Software, Inc. (NYSE:GWRE – Get Free Report) President John Mullen sold 39,683 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $144.47, for a total value of $5,733,003.01. Following the sale, the president owned 183,647 shares in the company, valued at approximately $26,531,482.09. This trade represents a 17.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Guidewire Software Price Performance

Shares of NYSE GWRE traded up $5.10 during trading on Monday, reaching $149.39. The company had a trading volume of 990,880 shares, compared to its average volume of 1,595,100. Guidewire Software, Inc. has a twelve month low of $102.30 and a twelve month high of $255.89. The stock has a market capitalization of $12.44 billion, a PE ratio of 91.65 and a beta of 0.97. The stock has a 50-day moving average price of $164.08 and a two-hundred day moving average price of $147.50. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.57.

Guidewire Software (NYSE:GWRE – Get Free Report) last posted its quarterly earnings data on Thursday, September 3rd. The technology company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The business had revenue of $411.09 million for the quarter, compared to analyst estimates of $402.61 million. Guidewire Software had a return on equity of 12.66% and a net margin of 9.44%.The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. As a group, sell-side analysts predict that Guidewire Software, Inc. will post 2.46 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Bamco Inc. NY purchased a new position in shares of Guidewire Software during the 2nd quarter worth about $1,106,768,000. Linonia Partnership LP acquired a new stake in shares of Guidewire Software in the second quarter worth approximately $853,165,000. Route One Investment Company L.P. purchased a new stake in Guidewire Software in the second quarter valued at approximately $227,564,000. Van ECK Associates Corp purchased a new stake in Guidewire Software in the second quarter valued at approximately $149,611,000. Finally, Capital World Investors acquired a new position in Guidewire Software during the fourth quarter worth approximately $202,405,000.

Wall Street Analyst Weigh In

GWRE has been the topic of several analyst reports. Zacks Research cut shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Citizens Jmp reissued a “market outperform” rating and set a $220.00 price objective on shares of Guidewire Software in a research note on Friday, September 4th. DA Davidson restated a “buy” rating and set a $222.00 target price on shares of Guidewire Software in a research report on Friday, September 4th. JPMorgan Chase & Co. decreased their target price on shares of Guidewire Software from $300.00 to $258.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Finally, The Goldman Sachs Group lowered their target price on shares of Guidewire Software from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $216.23.

Read Our Latest Research Report on Guidewire Software

About Guidewire Software

(Get Free Report)

Guidewire Software, Inc (NYSE: GWRE) provides cloud-based software and technology services for the property and casualty insurance industry. Its solutions help insurers manage core operations, modernize legacy systems, improve customer engagement and use data to support underwriting and claims decisions.

The company’s principal platform, InsuranceSuite, includes applications such as PolicyCenter for policy administration, BillingCenter for billing and payments, and ClaimCenter for claims management.

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