Guidewire Software Sees Unusually Large Options Volume (NYSE:GWRE)

Guidewire Software, Inc. (NYSE:GWRE) was the target of some unusual options trading activity on Wednesday. Investors bought 1,297 call options on the company. This is an increase of 1,563% compared to the typical daily volume of 78 call options.

Guidewire Software Stock Down 0.5 %

Shares of Guidewire Software stock opened at $191.18 on Friday. The stock has a 50-day simple moving average of $193.01 and a 200-day simple moving average of $189.75. Guidewire Software has a 52-week low of $107.00 and a 52-week high of $219.59. The firm has a market cap of $16.04 billion, a price-to-earnings ratio of 531.06, a P/E/G ratio of 37.21 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 2.66.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings results on Thursday, March 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.44). The company had revenue of $289.48 million for the quarter, compared to the consensus estimate of $285.74 million. Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. On average, equities research analysts expect that Guidewire Software will post 0.52 earnings per share for the current fiscal year.

Insider Activity

In other news, President John P. Mullen sold 2,300 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.95, for a total transaction of $432,285.00. Following the transaction, the president now directly owns 164,030 shares of the company’s stock, valued at $30,829,438.50. This represents a 1.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $167.82, for a total transaction of $234,948.00. Following the completion of the transaction, the chief executive officer now directly owns 258,593 shares of the company’s stock, valued at approximately $43,397,077.26. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,471 shares of company stock valued at $7,272,821 in the last ninety days. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC increased its holdings in shares of Guidewire Software by 7.2% during the first quarter. Conestoga Capital Advisors LLC now owns 255,970 shares of the technology company’s stock worth $47,959,000 after buying an additional 17,180 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Guidewire Software by 7.8% during the 1st quarter. QRG Capital Management Inc. now owns 7,935 shares of the technology company’s stock valued at $1,487,000 after purchasing an additional 573 shares in the last quarter. Jackson Square Capital LLC bought a new position in Guidewire Software in the 1st quarter valued at $2,459,000. Elevation Point Wealth Partners LLC acquired a new position in Guidewire Software in the first quarter worth $579,000. Finally, NorthCrest Asset Manangement LLC boosted its stake in Guidewire Software by 14.7% in the first quarter. NorthCrest Asset Manangement LLC now owns 1,431 shares of the technology company’s stock worth $268,000 after purchasing an additional 183 shares in the last quarter.

Analyst Upgrades and Downgrades

GWRE has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Guidewire Software from $228.00 to $231.00 and gave the company an “overweight” rating in a report on Friday, March 7th. The Goldman Sachs Group raised their target price on shares of Guidewire Software from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Robert W. Baird boosted their price target on Guidewire Software from $230.00 to $236.00 and gave the company an “outperform” rating in a report on Friday, March 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.08.

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.