Guidewire Software (NYSE:GWRE) Shares Down 4.6% – Here’s Why

Guidewire Software, Inc. (NYSE:GWRE) shares dropped 4.6% during trading on Friday . The stock traded as low as $192.50 and last traded at $191.7770. Approximately 79,958 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 1,163,994 shares. The stock had previously closed at $201.01.

Analyst Upgrades and Downgrades

GWRE has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Guidewire Software from $242.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Wall Street Zen downgraded shares of Guidewire Software from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. BTIG Research restated a “buy” rating and issued a $250.00 target price on shares of Guidewire Software in a report on Wednesday, December 17th. DA Davidson raised Guidewire Software from a “neutral” rating to a “buy” rating and raised their target price for the stock from $246.00 to $250.00 in a research report on Wednesday, December 17th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $281.00 price target on shares of Guidewire Software in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $271.29.

Guidewire Software Stock Performance

The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $15.96 billion, a PE ratio of 178.83, a PEG ratio of 12.22 and a beta of 1.08. The firm’s fifty day moving average price is $212.70 and its 200 day moving average price is $224.60.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. Guidewire Software had a return on equity of 10.15% and a net margin of 7.23%.The business had revenue of $332.64 million during the quarter, compared to analyst estimates of $316.62 million. During the same period last year, the company earned $0.43 earnings per share. Guidewire Software’s quarterly revenue was up 26.5% compared to the same quarter last year. On average, research analysts anticipate that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other Guidewire Software news, CFO Jeffrey Elliott Cooper sold 1,232 shares of Guidewire Software stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $195.00, for a total value of $240,240.00. Following the completion of the sale, the chief financial officer directly owned 72,969 shares in the company, valued at $14,228,955. The trade was a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David Franklin Peterson sold 358 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $192.08, for a total transaction of $68,764.64. Following the completion of the sale, the chief accounting officer directly owned 12,806 shares of the company’s stock, valued at $2,459,776.48. This represents a 2.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,140 shares of company stock worth $11,181,164 in the last quarter. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Several institutional investors and hedge funds have recently modified their holdings of the business. Measured Wealth Private Client Group LLC acquired a new position in Guidewire Software during the third quarter worth $29,000. Root Financial Partners LLC bought a new stake in shares of Guidewire Software during the 3rd quarter worth about $29,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Guidewire Software during the 2nd quarter worth about $30,000. Advisors Asset Management Inc. acquired a new position in shares of Guidewire Software during the 1st quarter valued at about $25,000. Finally, Westside Investment Management Inc. bought a new position in shares of Guidewire Software in the 2nd quarter valued at approximately $32,000.

Guidewire Software Company Profile

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.