Guidewire Software’s (GWRE) “Buy” Rating Reiterated at DA Davidson

Guidewire Software (NYSE:GWRE)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $246.00 price target on the technology company’s stock. DA Davidson’s price target would suggest a potential upside of 51.37% from the company’s current price.

GWRE has been the subject of a number of other research reports. Royal Bank Of Canada lowered their price target on shares of Guidewire Software from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Stifel Nicolaus lowered their target price on shares of Guidewire Software from $300.00 to $250.00 and set a “buy” rating for the company in a report on Friday, March 6th. BTIG Research reaffirmed a “buy” rating and set a $200.00 target price on shares of Guidewire Software in a report on Tuesday. Oppenheimer lowered their target price on shares of Guidewire Software from $250.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, May 18th. Finally, Zacks Research lowered shares of Guidewire Software from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Eleven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $244.46.

Guidewire Software Price Performance

Shares of Guidewire Software stock traded up $9.85 during midday trading on Tuesday, reaching $162.52. The company had a trading volume of 2,628,093 shares, compared to its average volume of 1,301,634. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $13.76 billion, a price-to-earnings ratio of 75.20 and a beta of 0.93. The stock has a fifty day simple moving average of $140.20 and a 200 day simple moving average of $162.43. Guidewire Software has a 1-year low of $115.57 and a 1-year high of $272.60.

Guidewire Software (NYSE:GWRE) last issued its quarterly earnings results on Thursday, March 5th. The technology company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.40. The business had revenue of $359.10 million during the quarter, compared to analyst estimates of $342.88 million. Guidewire Software had a net margin of 14.11% and a return on equity of 13.44%. Guidewire Software’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 earnings per share. As a group, equities research analysts forecast that Guidewire Software will post 1.84 earnings per share for the current year.

Insider Transactions at Guidewire Software

In other news, CEO Michael George Rosenbaum sold 4,737 shares of Guidewire Software stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $163.86, for a total transaction of $776,204.82. Following the transaction, the chief executive officer directly owned 221,206 shares of the company’s stock, valued at $36,246,815.16. This trade represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President John P. Mullen sold 6,576 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $163.86, for a total transaction of $1,077,543.36. Following the completion of the sale, the president directly owned 135,407 shares in the company, valued at $22,187,791.02. This represents a 4.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,479 shares of company stock valued at $5,024,174 over the last three months. 0.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Guidewire Software

Several institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd boosted its holdings in Guidewire Software by 901.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 9,110 shares of the technology company’s stock valued at $2,094,000 after purchasing an additional 8,200 shares during the period. Comerica Bank lifted its stake in Guidewire Software by 52.0% in the 4th quarter. Comerica Bank now owns 78,659 shares of the technology company’s stock valued at $15,811,000 after purchasing an additional 26,912 shares during the last quarter. BDF Gestion bought a new position in Guidewire Software in the 4th quarter valued at approximately $1,803,000. American Century Companies Inc. lifted its stake in Guidewire Software by 3.4% in the 3rd quarter. American Century Companies Inc. now owns 520,390 shares of the technology company’s stock valued at $119,617,000 after purchasing an additional 17,104 shares during the last quarter. Finally, Fieldview Capital Management LLC bought a new position in Guidewire Software in the 3rd quarter valued at approximately $2,862,000.

About Guidewire Software

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.