Insider Selling: Guidewire Software, Inc. (NYSE:GWRE) Insider Sells $1,156,570.88 in Stock

Guidewire Software, Inc. (NYSE:GWRE) insider John P. Mullen sold 6,718 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $1,156,570.88. Following the completion of the sale, the insider now directly owns 160,099 shares in the company, valued at approximately $27,562,643.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Guidewire Software Price Performance

Guidewire Software stock opened at $174.62 on Friday. The stock has a market cap of $14.43 billion, a PE ratio of -1,343.23 and a beta of 1.18. The stock’s fifty day moving average is $149.67 and its two-hundred day moving average is $130.98. Guidewire Software, Inc. has a 1-year low of $85.15 and a 1-year high of $174.68.

Guidewire Software (NYSE:GWRE) last released its quarterly earnings data on Thursday, September 5th. The technology company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Guidewire Software had a negative net margin of 0.62% and a negative return on equity of 1.32%. The company had revenue of $291.50 million for the quarter, compared to analysts’ expectations of $283.84 million. During the same quarter last year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, research analysts expect that Guidewire Software, Inc. will post 0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Guidewire Software

Large investors have recently bought and sold shares of the stock. Rothschild Investment LLC acquired a new stake in shares of Guidewire Software during the second quarter worth about $31,000. ORG Partners LLC purchased a new stake in Guidewire Software in the first quarter valued at approximately $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Guidewire Software in the fourth quarter valued at approximately $27,000. DT Investment Partners LLC purchased a new position in shares of Guidewire Software during the second quarter worth approximately $41,000. Finally, Lynx Investment Advisory acquired a new position in shares of Guidewire Software in the 2nd quarter valued at $41,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GWRE. JPMorgan Chase & Co. lifted their price objective on Guidewire Software from $133.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, June 5th. Oppenheimer boosted their price target on shares of Guidewire Software from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Stifel Nicolaus raised their price objective on shares of Guidewire Software from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. JMP Securities upped their target price on shares of Guidewire Software from $141.00 to $179.00 and gave the stock a “market outperform” rating in a research note on Friday, September 6th. Finally, Bank of America raised their price target on shares of Guidewire Software from $80.00 to $95.00 and gave the company an “underperform” rating in a research report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Guidewire Software currently has an average rating of “Moderate Buy” and an average price target of $161.69.

About Guidewire Software

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.