Traders Buy High Volume of Guidewire Software Call Options (NYSE:GWRE)

by · The Markets Daily

Guidewire Software, Inc. (NYSE:GWREGet Free Report) was the target of some unusual options trading on Wednesday. Stock investors bought 1,297 call options on the stock. This represents an increase of 1,563% compared to the average volume of 78 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GWRE shares. Citizens Jmp reissued a “market outperform” rating and set a $281.00 target price on shares of Guidewire Software in a research report on Wednesday, December 10th. Zacks Research downgraded shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Wall Street Zen cut shares of Guidewire Software from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. BTIG Research cut their price target on shares of Guidewire Software from $225.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Guidewire Software in a research note on Thursday, January 22nd. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $255.92.

Get Our Latest Research Report on Guidewire Software

Guidewire Software Stock Up 4.1%

Guidewire Software stock traded up $6.38 during midday trading on Thursday, hitting $160.17. 1,711,916 shares of the company’s stock were exchanged, compared to its average volume of 1,765,464. Guidewire Software has a 12 month low of $120.37 and a 12 month high of $272.60. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.48 and a current ratio of 3.48. The company has a market cap of $13.62 billion, a PE ratio of 152.54, a P/E/G ratio of 9.79 and a beta of 1.06. The firm has a 50-day moving average of $156.32 and a two-hundred day moving average of $201.52.

Guidewire Software (NYSE:GWREGet Free Report) last released its quarterly earnings data on Wednesday, December 3rd. The technology company reported $0.66 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.66. The firm had revenue of $332.64 million for the quarter, compared to the consensus estimate of $316.62 million. Guidewire Software had a net margin of 7.23% and a return on equity of 10.15%. The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. As a group, analysts expect that Guidewire Software will post 0.52 earnings per share for the current fiscal year.

Guidewire Software declared that its Board of Directors has approved a share buyback program on Thursday, January 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider James Winston King sold 1,860 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $195.00, for a total value of $362,700.00. Following the completion of the transaction, the insider owned 33,702 shares in the company, valued at $6,571,890. The trade was a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael George Rosenbaum sold 1,200 shares of Guidewire Software stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $125.50, for a total value of $150,600.00. Following the completion of the sale, the chief executive officer owned 229,543 shares of the company’s stock, valued at $28,807,646.50. The trade was a 0.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 42,760 shares of company stock valued at $7,978,508. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Guidewire Software

Several institutional investors have recently bought and sold shares of GWRE. Wealth Enhancement Advisory Services LLC lifted its position in Guidewire Software by 57.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 51,694 shares of the technology company’s stock worth $11,735,000 after acquiring an additional 18,774 shares during the period. Scalar Gauge Management LLC purchased a new position in shares of Guidewire Software in the third quarter worth about $5,287,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Guidewire Software during the third quarter worth about $51,967,000. American Century Companies Inc. boosted its position in Guidewire Software by 3.4% in the third quarter. American Century Companies Inc. now owns 520,390 shares of the technology company’s stock valued at $119,617,000 after buying an additional 17,104 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in Guidewire Software by 59.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 27,763 shares of the technology company’s stock worth $6,382,000 after buying an additional 10,364 shares during the period.

Guidewire Software Company Profile

(Get Free Report)

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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