John P. Mullen Sells 6,718 Shares of Guidewire Software, Inc. (NYSE:GWRE) Stock

by · The Markets Daily

Guidewire Software, Inc. (NYSE:GWRE – Get Free Report) insider John P. Mullen sold 6,718 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total transaction of $1,156,570.88. Following the completion of the transaction, the insider now owns 160,099 shares of the company’s stock, valued at approximately $27,562,643.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Guidewire Software Stock Down 0.1 %

Shares of GWRE stock opened at $174.54 on Friday. Guidewire Software, Inc. has a 52 week low of $85.15 and a 52 week high of $176.00. The firm has a 50 day moving average of $151.15 and a 200-day moving average of $131.67. The company has a market cap of $14.43 billion, a price-to-earnings ratio of -1,342.62 and a beta of 1.18.

Guidewire Software (NYSE:GWRE – Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.08. The firm had revenue of $291.50 million during the quarter, compared to the consensus estimate of $283.84 million. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.32%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. Analysts anticipate that Guidewire Software, Inc. will post 0.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GWRE. Needham & Company LLC reaffirmed a “hold” rating on shares of Guidewire Software in a research note on Friday, September 6th. BTIG Research raised their target price on Guidewire Software from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Bank of America lifted their target price on Guidewire Software from $80.00 to $95.00 and gave the stock an “underperform” rating in a report on Wednesday, June 5th. Wells Fargo & Company increased their price target on Guidewire Software from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Robert W. Baird raised their price objective on Guidewire Software from $152.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Guidewire Software presently has an average rating of “Moderate Buy” and a consensus target price of $161.69.

Read Our Latest Analysis on GWRE

Institutional Inflows and Outflows

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

About Guidewire Software

(Get Free Report)

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.

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