Guidewire Software (NYSE:GWRE) Shares Gap Down – Here’s What Happened

Guidewire Software, Inc. (NYSE:GWRE)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $206.57, but opened at $193.59. Guidewire Software shares last traded at $180.60, with a volume of 630,857 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GWRE. DA Davidson restated a “buy” rating and issued a $210.00 price target on shares of Guidewire Software in a report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Guidewire Software from $210.00 to $228.00 and gave the company an “overweight” rating in a report on Friday. Citigroup lifted their target price on Guidewire Software from $123.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Stifel Nicolaus raised their price objective on Guidewire Software from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, JMP Securities reissued a “market outperform” rating and set a $231.00 price target on shares of Guidewire Software in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Guidewire Software has an average rating of “Moderate Buy” and an average target price of $193.00.

Guidewire Software Stock Performance

The firm has a market cap of $14.57 billion, a P/E ratio of -2,224.47, a P/E/G ratio of 52.81 and a beta of 1.18. The firm has a fifty day moving average of $191.59 and a 200-day moving average of $160.19.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results 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 1.29%. The company had revenue of $291.50 million during the quarter, compared to analyst estimates of $283.84 million. During the same period in the prior year, the business posted $0.30 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts expect that Guidewire Software, Inc. will post 0.53 earnings per share for the current year.

Insider Activity at Guidewire Software

In other news, CFO Jeffrey Elliott Cooper sold 10,334 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $1,779,101.44. Following the transaction, the chief financial officer now directly owns 83,367 shares of the company’s stock, valued at approximately $14,352,462.72. This represents a 11.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President John P. Mullen sold 1,350 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $197.72, for a total value of $266,922.00. Following the completion of the transaction, the president now directly owns 189,261 shares in the company, valued at approximately $37,420,684.92. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,601 shares of company stock valued at $9,116,179 over the last ninety days. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On Guidewire Software

Several hedge funds have recently bought and sold shares of the business. Rothschild Investment LLC acquired a new position in shares of Guidewire Software during the 2nd quarter valued at about $31,000. Assetmark Inc. grew its stake in Guidewire Software by 537.0% in the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after buying an additional 145 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Guidewire Software in the 3rd quarter worth $33,000. DT Investment Partners LLC bought a new stake in Guidewire Software during the second quarter valued at about $41,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Guidewire Software in the third quarter valued at about $42,000.

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.