Guidewire Software (NYSE:GWRE) Insider James Winston King Sells 11,814 Shares of Stock

Key Points

• Insider sale: James Winston King sold 11,814 Guidewire shares for approximately $1.71 million at an average price of $144.47, reducing his direct holdings by 20.46% to 45,939 shares. The transaction occurred under a pre-arranged Rule 10b5-1 plan to cover taxes from vested equity awards.
• Operating performance: Guidewire reported quarterly earnings of $0.99 per share, exceeding estimates of $0.93, while revenue rose 15.3% year over year to $411.09 million, above expectations.
• Market and analyst view: The stock recently traded at $149.39, with a consensus “Moderate Buy” rating and an average price target of $216.23 from analysts.

Guidewire Software, Inc. (NYSE:GWRE - Get Free Report) insider James King sold 11,814 shares of Guidewire Software stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $144.47, for a total transaction of $1,706,768.58. Following the transaction, the insider directly owned 45,939 shares of the company's stock, valued at $6,636,807.33. This represents a 20.46% decrease in their position. The sale 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.

James Winston King also recently made the following trade(s):

• On Friday, September 18th, James King sold 1,381 shares of Guidewire Software stock. The stock was sold at an average price of $144.98, for a total transaction of $200,217.38.
• On Thursday, July 9th, James King sold 1,684 shares of Guidewire Software stock. The shares were sold at an average price of $130.64, for a total transaction of $219,997.76.

Guidewire Software Stock Up 3.5%

NYSE GWRE traded up $5.10 on Monday, hitting $149.39. 990,880 shares of the company were exchanged, compared to its average volume of 1,595,100. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.57. The company has a market cap of $12.44 billion, a PE ratio of 91.65 and a beta of 0.97. The stock has a fifty day moving average of $164.08 and a 200-day moving average of $147.50. Guidewire Software, Inc. has a 12 month low of $102.30 and a 12 month high of $255.89.

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

Hedge Funds Weigh In On Guidewire Software

A number of hedge funds have recently bought and sold shares of the company. Bamco Inc. NY bought a new stake in shares of Guidewire Software in the 2nd quarter worth $1,106,768,000. Linonia Partnership LP purchased a new position in Guidewire Software during the second quarter worth about $853,165,000. Route One Investment Company L.P. purchased a new position in Guidewire Software during the second quarter worth about $227,564,000. Geode Capital Management LLC grew its position in Guidewire Software by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company's stock worth $357,504,000 after purchasing an additional 145,924 shares in the last quarter. Finally, Van ECK Associates Corp bought a new stake in Guidewire Software in the 2nd quarter worth about $149,611,000.

Analysts Set New Price Targets

GWRE has been the subject of several recent research reports. Citigroup boosted their price objective on Guidewire Software from $137.00 to $181.00 and gave the company a "neutral" rating in a report on Friday, September 4th. JPMorgan Chase & Co. reduced their price target on shares of Guidewire Software from $300.00 to $258.00 and set an "overweight" rating for the company in a research report on Tuesday, July 14th. Guggenheim boosted their price target on shares of Guidewire Software from $180.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, August 27th. BTIG Research raised their price objective on shares of Guidewire Software from $175.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Finally, The Goldman Sachs Group reduced their price objective on shares of Guidewire Software from $255.00 to $225.00 and set a "buy" rating for the company in a report on Friday, June 5th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Guidewire Software currently has a consensus rating of "Moderate Buy" and a consensus price target of $216.23.

About Guidewire Software

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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