Guidewire Software (NYSE:GWRE) CEO Sells $148,620.00 in Stock

Key Points

• CEO Michael George Rosenbaum sold 1,200 shares of Guidewire Software for $148,620, under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards. After the trade, he still held more than 205,000 shares worth about $25.5 million.
• GWRE stock fell 2.1% to $117.50, near its 52-week low of $113.67 and well below its 52-week high of $272.60. The stock also traded below its 50-day and 200-day moving averages.
• Guidewire beat quarterly expectations, reporting EPS of $0.82 versus $0.74 expected and revenue of $372.54 million versus $355.92 million estimated. Revenue rose 26.9% year over year, even as analysts’ price targets have recently been trimmed.

Guidewire Software, Inc. (NYSE:GWRE - Get Free Report) CEO Michael George Rosenbaum sold 1,200 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $123.85, for a total value of $148,620.00. Following the sale, the chief executive officer directly owned 205,606 shares of the company's stock, valued at $25,464,303.10. This represents a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 Tuesday, June 16th, Michael George Rosenbaum sold 5,830 shares of Guidewire Software stock. The shares were sold at an average price of $118.74, for a total value of $692,254.20.
• On Monday, June 8th, Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock. The shares were 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 shares were 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 shares were 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 shares were 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 stock was 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 stock was 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 stock was 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%

GWRE stock traded down $2.53 during midday trading on Tuesday, reaching $117.50. 1,542,169 shares of the company traded hands, compared to its average volume of 1,791,430. Guidewire Software, Inc. has a 52-week low of $113.67 and a 52-week high of $272.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.44 and a current ratio of 2.44. The business has a 50 day moving average of $136.21 and a 200-day moving average of $155.98. The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of 63.51 and a beta of 0.93.

Guidewire Software (NYSE:GWRE - Get Free Report) last issued its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 earnings per share (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 for the quarter, compared to the consensus estimate of $355.92 million. During the same period in the prior year, the business posted $0.88 earnings per share. The company's quarterly revenue was up 26.9% compared to the same quarter last year. As a group, sell-side analysts expect that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Zacks Research cut Guidewire Software from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Royal Bank Of Canada dropped their price objective on Guidewire Software from $250.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, June 5th. Citizens Jmp lowered their target price on Guidewire Software from $300.00 to $220.00 and set a "market outperform" rating for the company in a report on Friday, June 5th. Wells Fargo & Company dropped their target price on Guidewire Software from $210.00 to $190.00 and set an "overweight" rating on the stock in a research report on Friday, June 5th. Finally, BTIG Research reaffirmed a "buy" rating and set a $200.00 target price on shares of Guidewire Software in a research report on Tuesday, June 2nd. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $229.00.

Institutional Trading of Guidewire Software

Several hedge funds and other institutional investors have recently made changes to their positions in GWRE. Advisors Asset Management Inc. purchased a new stake in shares of Guidewire Software during the 1st quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Guidewire Software during the 3rd quarter valued at $29,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Guidewire Software during the 4th quarter valued at $36,000. Leonteq Securities AG purchased a new stake in shares of Guidewire Software during the 1st quarter valued at $36,000. Finally, Bogart Wealth LLC raised its stake in Guidewire Software by 127.8% in the 1st quarter. Bogart Wealth LLC now owns 246 shares of the technology company's stock worth $37,000 after acquiring an additional 138 shares during the last quarter.

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.

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