The Law Offices of Frank R. Cruz Announces Investigation of Guidewire Software, Inc. (GWRE) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of Guidewire Software, Inc. ("Guidewire" or the "Company") (NYSE: GWRE) investors concerning the Company and its officers’ possible violations of federal securities laws.

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On March 4, 2020, Guidewire announced its financial results for the second quarter of fiscal year 2020 and slashed its full-year revenue guidance by $57 million, from a range of $759 million to $771 million to only $702 million to $714 million. Additionally, the Company cut its Annual Recurring Revenue guidance from a range of 14% to 16%, down to 11% to 12% for the third quarter of 2020. During the accompanying earnings conference call, the Company specified that the Company's cloud products needed to be improved in order to meet customer needs and successfully compete against rival systems, and also revealed that a large swath of Guidewire customers no longer wanted the Company's traditional on-premise products and had not adopted Guidewire's cloud products.

On this news, the Company’s share price fell $18.92 per share, or over 16%, to close at $93.56 per share on March 5, 2020.

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If you purchased Guidewire securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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