Insider Selling: Guidewire Software (NYSE:GWRE) CEO Sells 1,200 Shares

Key Points

• Guidewire Software CEO Michael George Rosenbaum sold 1,200 shares on June 22 at an average price of $105.67, totaling $126,804. The trade was made under a pre-arranged Rule 10b5-1 plan, and his direct holdings fell by 0.60% to 198,576 shares.
• The stock dropped 4.8% to $102.67 during Monday trading, bringing it close to its 52-week low of $102.30. Shares were trading well below both the 50-day moving average of $134.13 and the 200-day moving average of $153.76.
• Despite the recent weakness, Guidewire reported stronger-than-expected quarterly results, with EPS of $0.82 versus $0.74 expected and revenue of $372.54 million, up 26.9% year over year. Analysts still largely remain positive, with an average rating of “Moderate Buy” and a consensus price target of $229.00.

Guidewire Software, Inc. (NYSE:GWRE - Get Free Report) CEO Michael George Rosenbaum sold 1,200 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $105.67, for a total transaction of $126,804.00. Following the completion of the transaction, the chief executive officer directly owned 198,576 shares in the company, valued at approximately $20,983,525.92. This represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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 transaction of $692,254.20.
• On Monday, June 15th, Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock. The shares were sold at an average price of $123.85, for a total transaction of $148,620.00.
• 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 transaction 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 transaction 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 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 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 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.

Guidewire Software Trading Down 4.8%

NYSE:GWRE traded down $5.19 during trading hours on Monday, hitting $102.67. The company had a trading volume of 2,057,418 shares, compared to its average volume of 1,670,974. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average of $134.13 and a 200 day moving average of $153.76. The company has a market cap of $8.55 billion, a P/E ratio of 55.50 and a beta of 0.93. Guidewire Software, Inc. has a 1 year low of $102.30 and a 1 year high of $272.60.

Guidewire Software (NYSE:GWRE - Get Free Report) last posted its quarterly earnings results on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $355.92 million. During the same quarter in the previous year, the firm earned $0.88 EPS. The company's quarterly revenue was up 26.9% compared to the same quarter last year. Sell-side analysts expect that Guidewire Software, Inc. will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On Guidewire Software

Hedge funds have recently made changes to their positions in the stock. Capital World Investors acquired a new stake in Guidewire Software in the 4th quarter valued at approximately $202,405,000. Principal Financial Group Inc. lifted its stake in Guidewire Software by 547.3% during the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company's stock worth $176,537,000 after purchasing an additional 997,992 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Guidewire Software by 405.1% during the second quarter. Alliancebernstein L.P. now owns 538,303 shares of the technology company's stock worth $126,743,000 after buying an additional 431,725 shares during the period. Stockbridge Partners LLC boosted its position in shares of Guidewire Software by 39.0% during the fourth quarter. Stockbridge Partners LLC now owns 1,445,206 shares of the technology company's stock worth $290,501,000 after buying an additional 405,850 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Guidewire Software by 179.0% in the first quarter. Assenagon Asset Management S.A. now owns 628,759 shares of the technology company's stock valued at $94,037,000 after buying an additional 403,370 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GWRE. Stifel Nicolaus decreased 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. Wells Fargo & Company cut their price target on shares of Guidewire Software from $210.00 to $190.00 and set an "overweight" rating for the company in a report on Friday, June 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Guidewire Software in a research report on Wednesday, June 3rd. BTIG Research reaffirmed a "buy" rating and set a $200.00 price target on shares of Guidewire Software in a research report on Tuesday, June 2nd. Finally, Royal Bank Of Canada lowered their price objective on Guidewire Software from $250.00 to $215.00 and set an "outperform" rating for the company in a research report on Friday, June 5th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $229.00.

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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