We are investigating Guidewire Software, Inc. (GWRE) (“Guidewire” or the “Company”) for potential violations of the federal securities laws. 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. In addition, Guidewire 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, Guidewire indicated 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, Guidewire’s stock price fell $18.92 per share, or 16.82%, to close at $93.56 per share on March 5, 2020.