Guidewire Software Sees Unusually Large Options Volume (NYSE:GWRE)
by Amy Steele · The Cerbat GemGuidewire Software, Inc. (NYSE:GWRE – Get Free Report) was the target of unusually large options trading activity on Wednesday. Traders acquired 1,297 call options on the company. This is an increase of 1,563% compared to the typical daily volume of 78 call options.
Guidewire Software Stock Down 2.6%
Shares of GWRE opened at $225.15 on Friday. The stock has a market cap of $18.96 billion, a price-to-earnings ratio of 562.88, a P/E/G ratio of 20.51 and a beta of 1.16. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.49. Guidewire Software has a 12 month low of $132.01 and a 12 month high of $263.20. The company has a 50-day moving average price of $228.17 and a two-hundred day moving average price of $204.09.
Guidewire Software (NYSE:GWRE – Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.41. The firm had revenue of $293.51 million during the quarter, compared to analysts’ expectations of $286.40 million. Guidewire Software had a net margin of 3.04% and a return on equity of 6.96%. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 earnings per share. Equities analysts predict that Guidewire Software will post 0.52 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, President John P. Mullen sold 3,000 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $235.05, for a total value of $705,150.00. Following the transaction, the president directly owned 146,489 shares of the company’s stock, valued at approximately $34,432,239.45. This represents a 2.01% 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, CEO Michael George Rosenbaum sold 1,400 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $256.50, for a total transaction of $359,100.00. Following the completion of the transaction, the chief executive officer directly owned 245,993 shares in the company, valued at $63,097,204.50. This trade represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,860 shares of company stock worth $4,214,136 over the last ninety days. 0.48% of the stock is currently owned by company insiders.
Institutional Trading of Guidewire Software
Several hedge funds have recently modified their holdings of GWRE. Massachusetts Financial Services Co. MA increased its holdings in shares of Guidewire Software by 29.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,436,873 shares of the technology company’s stock valued at $747,968,000 after purchasing an additional 1,009,966 shares in the last quarter. Linonia Partnership LP increased its holdings in shares of Guidewire Software by 41.8% in the first quarter. Linonia Partnership LP now owns 3,396,310 shares of the technology company’s stock valued at $636,333,000 after purchasing an additional 1,000,709 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Guidewire Software by 70.4% in the first quarter. Invesco Ltd. now owns 1,427,104 shares of the technology company’s stock valued at $267,382,000 after purchasing an additional 589,424 shares in the last quarter. Congress Asset Management Co. acquired a new stake in shares of Guidewire Software in the first quarter valued at approximately $85,453,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Guidewire Software by 79.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 946,158 shares of the technology company’s stock valued at $159,503,000 after purchasing an additional 418,642 shares in the last quarter.
Analysts Set New Price Targets
Several research firms have commented on GWRE. Wells Fargo & Company increased their target price on shares of Guidewire Software from $220.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Oppenheimer upped their price target on shares of Guidewire Software from $230.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a report on Wednesday, June 4th. Bank of America upped their price target on shares of Guidewire Software from $135.00 to $160.00 and gave the company an “underperform” rating in a report on Wednesday, June 4th. Finally, JMP Securities upped their price target on shares of Guidewire Software from $250.00 to $281.00 and gave the company a “market outperform” rating in a report on Wednesday, June 4th. One 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, Guidewire Software currently has a consensus rating of “Moderate Buy” and an average price target of $248.31.
Get Our Latest Research Report on Guidewire Software
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.
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