Guidewire Software (NYSE:GWRE) CEO Michael George Rosenbaum Sells 5,830 Shares

Key Points

• Guidewire CEO Michael George Rosenbaum sold 5,830 shares on June 16 at an average price of $118.74, totaling about $692,254. The sale was made under a pre-arranged 10b5-1 plan to cover tax withholding tied to equity awards.
• The stock traded lower on Tuesday, falling 2.1% to $117.50, near its 1-year low of $113.67 and well below its 50-day and 200-day moving averages. Guidewire has a market cap of about $9.78 billion.
• Guidewire’s latest quarter beat expectations, posting EPS of $0.82 versus the $0.74 consensus and revenue of $372.54 million, up 26.9% year over year. Analysts currently rate the stock a consensus “Moderate Buy” with an average price target of $229.

Guidewire Software, Inc. (NYSE:GWRE - Get Free Report) CEO Michael George Rosenbaum sold 5,830 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $118.74, for a total value of $692,254.20. Following the transaction, the chief executive officer directly owned 199,776 shares of the company's stock, valued at $23,721,402.24. The trade was a 2.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michael George Rosenbaum also recently made the following trade(s):

• On Monday, June 15th, Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock. The stock was sold at an average price of $123.85, for a total value of $148,620.00.
• On Monday, June 8th, Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock. The stock was sold at an average price of $135.62, for a total value of $162,744.00.
• On Monday, June 1st, Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock. The stock was sold at an average price of $158.92, for a total value of $190,704.00.
• On Tuesday, May 26th, Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock. The stock was sold at an average price of $138.51, for a total value of $166,212.00.
• On Monday, May 18th, Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock. The stock was sold at an average price of $128.19, for a total value of $153,828.00.
• On Monday, May 11th, Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock. The shares were sold at an average price of $136.38, for a total value of $163,656.00.
• On Monday, May 4th, Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock. The shares were sold at an average price of $141.91, for a total value of $170,292.00.
• On Monday, April 27th, Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock. The shares were sold at an average price of $138.09, for a total value of $165,708.00.
• On Monday, April 20th, Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock. The shares were sold at an average price of $139.75, for a total value of $167,700.00.
• On Monday, April 13th, Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock. The shares were sold at an average price of $118.77, for a total value of $142,524.00.

Guidewire Software Trading Down 2.1%

Shares of NYSE:GWRE traded down $2.53 during midday trading on Tuesday, reaching $117.50. The company's stock had a trading volume of 1,542,169 shares, compared to its average volume of 1,791,430. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 63.51 and a beta of 0.93. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. Guidewire Software, Inc. has a 1 year low of $113.67 and a 1 year high of $272.60. The business has a 50 day moving average price of $136.21 and a 200 day moving average price of $155.98.

Guidewire Software (NYSE:GWRE - Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.08. Guidewire Software had a return on equity of 12.62% and a net margin of 11.25%.The business had revenue of $372.54 million during the quarter, compared to the consensus estimate of $355.92 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. The business's revenue for the quarter was up 26.9% on a year-over-year basis. Research analysts forecast that Guidewire Software, Inc. will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its stake in Guidewire Software by 239.1% during the first quarter. Empowered Funds LLC now owns 7,538 shares of the technology company's stock valued at $1,127,000 after buying an additional 5,315 shares in the last quarter. Parallel Advisors LLC raised its stake in Guidewire Software by 44.7% during the first quarter. Parallel Advisors LLC now owns 4,561 shares of the technology company's stock valued at $682,000 after buying an additional 1,409 shares in the last quarter. Glenmede Trust Co. NA raised its stake in Guidewire Software by 35.5% during the first quarter. Glenmede Trust Co. NA now owns 2,030 shares of the technology company's stock valued at $304,000 after buying an additional 532 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Guidewire Software during the first quarter valued at approximately $637,000. Finally, California State Teachers Retirement System raised its stake in Guidewire Software by 22.5% during the first quarter. California State Teachers Retirement System now owns 98,191 shares of the technology company's stock valued at $14,685,000 after buying an additional 18,042 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GWRE shares. Zacks Research downgraded Guidewire Software from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. BTIG Research reissued a "buy" rating and set a $200.00 price target on shares of Guidewire Software in a research report on Tuesday, June 2nd. Stifel Nicolaus lowered their price target on Guidewire Software from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, June 5th. Citizens Jmp lowered their price target on Guidewire Software from $300.00 to $220.00 and set a "market outperform" rating for the company in a research report on Friday, June 5th. Finally, Wells Fargo & Company lowered their price target on Guidewire Software from $210.00 to $190.00 and set an "overweight" rating for the company in a research report on Friday, June 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Guidewire Software presently has a consensus rating of "Moderate Buy" and an average price target of $229.00.

About Guidewire Software

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.

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