Shares of property and casualty insurance software provider Guidewire Software  (GWRE) - Get Report  were down 6.25% to $91.96 Wednesday after the company issued weak fiscal fourth-quarter guidance.  

The Foster City, Calif.-based company reported adjusted earnings of 18 cents per share on revenue of $162.9 million, well ahead of Wall Street's expectation of 8 cents per share on revenue of $155.2 million.

However, the company also provided fourth-quarter earnings guidance of 47 cents per share on revenue between $199 million and $207 million, below forecasts of 61 cents per share on revenue $226.4 million. 

"Total revenue and profitability were above our guidance ranges in the third quarter," said Marcus Ryu, CEO of Guidewire Software. "During the quarter we added two additional InsuranceSuite Cloud customers amidst robust demand for Guidewire Cloud overall, as new and existing customers increasingly seek Guidewire as a trusted partner to shoulder a broader role in their digital transformations. We also continue to ramp our product, operational, and delivery capacity to serve this wave of change for the $2 trillion global P&C industry."