John P. Mullen Sells 6,718 Shares of Guidewire Software, Inc. (NYSE:GWRE) Stock

Guidewire Software, Inc. (NYSE:GWRE) insider John P. Mullen sold 6,718 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 owns 160,099 shares in the company, valued at approximately $27,562,643.84. The transaction was disclosed in a filing with the SEC, which is available at this link.

Guidewire Software Stock Up 1.3 %

Shares of NYSE GWRE opened at $174.62 on Friday. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of -1,343.23 and a beta of 1.18. Guidewire Software, Inc. has a 52 week low of $85.15 and a 52 week high of $174.68. The firm has a 50-day simple moving average of $149.67 and a 200-day simple moving average of $130.98.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on GWRE. JMP Securities increased their price target on shares of Guidewire Software from $141.00 to $179.00 and gave the stock a “market outperform” rating in a report on Friday, September 6th. BTIG Research lifted their price target on Guidewire Software from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company upped their price target on Guidewire Software from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Citigroup raised their price objective on Guidewire Software from $123.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. increased their target price on Guidewire Software from $133.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.69.

Hedge Funds Weigh In On Guidewire Software

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Guidewire Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,134,952 shares of the technology company’s stock valued at $949,430,000 after purchasing an additional 67,439 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Guidewire Software by 4.2% in the first quarter. Wasatch Advisors LP now owns 2,874,758 shares of the technology company’s stock valued at $335,513,000 after acquiring an additional 115,600 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Guidewire Software by 23.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock worth $378,832,000 after acquiring an additional 516,942 shares during the last quarter. Linonia Partnership LP raised its position in Guidewire Software by 8.4% in the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock valued at $330,329,000 after purchasing an additional 185,077 shares during the period. Finally, Whale Rock Capital Management LLC increased its position in shares of Guidewire Software by 23.4% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after purchasing an additional 240,622 shares during the last quarter.

Guidewire Software Company Profile

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.