Insider Selling: Guidewire Software, Inc. (NYSE:GWRE) Insider Sells $779,387.24 in Stock

Guidewire Software, Inc. (NYSE:GWRE) insider James Winston King sold 4,514 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $172.66, for a total value of $779,387.24. Following the completion of the transaction, the insider now owns 48,237 shares in the company, valued at $8,328,600.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Guidewire Software Price Performance

Shares of Guidewire Software stock opened at $174.54 on Friday. Guidewire Software, Inc. has a 1 year low of $85.15 and a 1 year high of $176.00. The firm has a market cap of $14.43 billion, a PE ratio of -1,342.62 and a beta of 1.18. The stock has a fifty day moving average price of $151.15 and a 200-day moving average price of $131.80.

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

Institutional Investors Weigh In On Guidewire Software

Several large investors have recently added to or reduced their stakes in GWRE. Norges Bank purchased a new stake in Guidewire Software in the 4th quarter worth about $97,829,000. PNC Financial Services Group Inc. increased its holdings in Guidewire Software by 8.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,900 shares of the technology company’s stock worth $970,000 after acquiring an additional 678 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Guidewire Software in the 4th quarter worth about $14,583,000. Corient Private Wealth LLC boosted its stake in Guidewire Software by 126.6% in the 4th quarter. Corient Private Wealth LLC now owns 8,912 shares of the technology company’s stock worth $972,000 after purchasing an additional 4,979 shares during the period. Finally, Fortis Capital Advisors LLC bought a new position in Guidewire Software in the 4th quarter worth about $315,000.

Analyst Ratings Changes

A number of brokerages recently issued reports on GWRE. Citigroup increased their target price on Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Robert W. Baird increased their price target on Guidewire Software from $152.00 to $165.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. increased their price target on Guidewire Software from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. Oppenheimer increased their price target on Guidewire Software from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Finally, DA Davidson reissued a “buy” rating and issued a $168.00 price target on shares of Guidewire Software in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Guidewire Software has a consensus 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.