Guidewire Software (NYSE:GWRE) CEO Michael George Rosenbaum Sells 72,290 Shares

Key Points

• Guidewire CEO Michael Rosenbaum sold 72,290 shares at an average price of $144.47, generating approximately $10.44 million. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax obligations from vested equity awards, leaving him with 280,866 shares.
• Rosenbaum has also made a series of smaller 1,200-share sales since July, indicating continued insider selling, though the transactions were disclosed as planned trades.
• Guidewire shares rose 3.5% to $149.39, while the company’s latest quarterly results beat expectations: EPS was $0.99 versus $0.93 expected, and revenue increased 15.3% year over year to $411.09 million. Analysts maintain a “Moderate Buy” consensus rating with a $216.23 average price target.

Guidewire Software, Inc. (NYSE:GWRE - Get Free Report) CEO Michael Rosenbaum sold 72,290 shares of Guidewire Software stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $144.47, for a total value of $10,443,736.30. Following the completion of the transaction, the chief executive officer directly owned 280,866 shares of the company's stock, valued at approximately $40,576,711.02. This represents a 20.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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, September 21st, Michael Rosenbaum sold 1,200 shares of Guidewire Software stock. The shares were sold at an average price of $145.92, for a total transaction of $175,104.00.
• On Monday, September 14th, Michael Rosenbaum sold 1,200 shares of Guidewire Software stock. The shares were sold at an average price of $145.87, for a total transaction of $175,044.00.
• On Tuesday, September 8th, Michael Rosenbaum sold 1,200 shares of Guidewire Software stock. The stock was sold at an average price of $160.52, for a total transaction of $192,624.00.
• On Monday, August 31st, Michael Rosenbaum sold 1,200 shares of Guidewire Software stock. The stock was sold at an average price of $204.44, for a total transaction of $245,328.00.
• On Monday, August 24th, Michael Rosenbaum sold 1,200 shares of Guidewire Software stock. The shares were sold at an average price of $187.82, for a total transaction of $225,384.00.
• On Monday, August 17th, Michael Rosenbaum sold 1,200 shares of Guidewire Software stock. The shares were sold at an average price of $172.88, for a total transaction of $207,456.00.
• On Monday, August 10th, Michael Rosenbaum sold 1,200 shares of Guidewire Software stock. The stock was sold at an average price of $169.50, for a total transaction of $203,400.00.
• On Monday, August 3rd, Michael Rosenbaum sold 1,200 shares of Guidewire Software stock. The shares were sold at an average price of $155.92, for a total value of $187,104.00.
• On Monday, July 27th, Michael Rosenbaum sold 1,200 shares of Guidewire Software stock. The shares were sold at an average price of $142.31, for a total value of $170,772.00.
• On Monday, July 13th, Michael Rosenbaum sold 1,200 shares of Guidewire Software stock. The stock was sold at an average price of $138.47, for a total value of $166,164.00.

Guidewire Software Stock Up 3.5%

Shares of GWRE stock traded up $5.10 during mid-day trading on Monday, hitting $149.39. The company's stock had a trading volume of 990,880 shares, compared to its average volume of 1,595,100. Guidewire Software, Inc. has a 52-week low of $102.30 and a 52-week high of $255.89. The business has a 50-day moving average price of $164.08 and a 200 day moving average price of $147.50. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market cap of $12.44 billion, a price-to-earnings ratio of 91.65 and a beta of 0.97.

Guidewire Software (NYSE:GWRE - Get Free Report) last released its quarterly earnings data on Thursday, September 3rd. The technology company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.93 by $0.06. Guidewire Software had a return on equity of 12.66% and a net margin of 9.44%.The company had revenue of $411.09 million for the quarter, compared to analysts' expectations of $402.61 million. During the same period last year, the firm posted $0.84 earnings per share. Guidewire Software's revenue was up 15.3% compared to the same quarter last year. Research analysts predict that Guidewire Software, Inc. will post 2.46 EPS for the current fiscal year.

Institutional Trading of Guidewire Software

Several hedge funds have recently bought and sold shares of the stock. Castleark Management LLC raised its stake in shares of Guidewire Software by 1.6% in the first quarter. Castleark Management LLC now owns 5,180 shares of the technology company's stock valued at $775,000 after acquiring an additional 80 shares during the period. Avory & Company LLC boosted its stake in shares of Guidewire Software by 10.0% during the 4th quarter. Avory & Company LLC now owns 1,187 shares of the technology company's stock worth $239,000 after purchasing an additional 108 shares during the period. Harbour Investments Inc. grew its holdings in Guidewire Software by 83.0% during the 4th quarter. Harbour Investments Inc. now owns 247 shares of the technology company's stock valued at $50,000 after purchasing an additional 112 shares during the last quarter. Elevation Wealth Partners LLC raised its position in Guidewire Software by 35.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 458 shares of the technology company's stock worth $56,000 after purchasing an additional 119 shares during the period. Finally, D.A. Davidson & CO. lifted its stake in Guidewire Software by 3.0% in the first quarter. D.A. Davidson & CO. now owns 4,234 shares of the technology company's stock worth $633,000 after purchasing an additional 124 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GWRE shares. Royal Bank Of Canada reissued an "outperform" rating and set a $215.00 price objective on shares of Guidewire Software in a report on Friday, September 4th. Stifel Nicolaus dropped their target price on shares of Guidewire Software from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Friday, June 5th. Piper Sandler reiterated an "overweight" rating and set a $210.00 target price on shares of Guidewire Software in a research note on Friday, September 4th. Wells Fargo & Company increased their price target on Guidewire Software from $190.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, September 4th. Finally, BTIG Research lifted their price objective on Guidewire Software from $175.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, September 2nd. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $216.23.

Guidewire Software Company Profile

Guidewire Software, Inc NYSE: GWRE provides cloud-based software and technology services for the property and casualty insurance industry. Its solutions help insurers manage core operations, modernize legacy systems, improve customer engagement and use data to support underwriting and claims decisions.

The company's principal platform, InsuranceSuite, includes applications such as PolicyCenter for policy administration, BillingCenter for billing and payments, and ClaimCenter for claims management.

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